By: Doug Bilbrey, VP of Sales
Like it or not, our industry has experienced a significant shift over the past few years and will be dealing with major changes in the years to come. Many hospitals, especially those in rural areas, have not been able to maintain their autonomy and have either closed or joined larger health systems. There are several reasons for this, including: financial pressures, declining volumes, staffing, and leadership.
While some hospitals have gone under, others have found ways to thrive. There are hospitals that have adopted new practices to ensure they capture all possible cash from revenue. Patients that use these facilities fully expect to pay for services and, with the exception of Emergency Department treatment, are expected to either pay in advance or have a payment plan established.
By: Sheila Schweitzer, CEO PatientMatters
The patient as a consumer is disruptive! Disruption isn’t bad, however, it requires an innovative response to survive and thrive. It demands a change in culture and an execution process performed with discipline and clarity.
Hospitals have traditionally used the same business practices for all patients. These practices are rooted in a different time and environment. They deliver bad experiences for both the patient and the hospital. Over the past couple of years, there have been significant discussions around the need for doing patient estimates, insurance verification, point of service collections, etc., but the discussions have really just been a re-packaging of old business practices from the same vendors.