Patient Payments

The landscape of healthcare is changing. High Deductible Plans with heavy copay and co-insurance requirements are the new normal. The days of relying on insurance companies to cover the majority of the costs associated with patient care are ending, and more of the expense responsibility is falling directly to the patient. This means your group has to change as well.  Ignore the signs and it will cost you dearly.  There are many ways you can do this and here are just a few.

  • Collecting the amount the patient owes at their visit, and collect the patient’s responsibility.  Using Real-Time Eligibility and patient estimation tools provided by PHIcure can help.
  • Offer multiple ways to pay.  Cash and check should be supplemented by credit cards both at the office and online.  Our On-line bill pay solutions can help.
  • Staff Training.  Don't assume your staff understands what to ask for and how to ask. Regular training on how to request payment and utlizing the tools available to them is an ongoing priority.  Our consultants can prepare a program for you. 
All of  these ideas are great and only work if you measure them at the end and that is where our analytics come in.  Understanding what was collected by who and when is the last piece of the puzzle.  If you don't track you can't change the behavior and improve your results.  PHIcure analytics changes all that. Contact us today to learn more.

The best way to avoid denials is not to have any. Unfortunately, that is an impossible task.  However, you can make the process easier and more manageable if you first understand why you are getting the denials in the first place.  PHIcure Analytics can help you uncover those reasons, put a plan in place to work them, and minimize their occurrence in the future.

Can your system seamlessly show you:
  • The breakdown between contractual and non contractual adjustments?
  • Denial trends by payer?
  • 100% of  the CARC codes on your denials?

With PHIcure Analytics we can not only drill down to the details but we can map the trends which is not always as easy in the Practice Management System (PMS). Contact us today and learn how we can use the data we already have for you in the form of the 837 and 835.  We then marry it to outside sources to provide you with the full picture and better yet.... a roadmap to manage your denials more effectively.
What are you tracking?

Keeping the train on the tracks is much easier than getting it back on if it has derailed.  Either way you need to be tracking the indicators that keep your practice healthly.  There are many indicators that can keep you informed and below are just a few.

Revenue Indicators

  • Daily and Monthly Charges
  • Monthly Adjustments categorized
  • Monthly Payments by provider/location/payer/etc.
  • Payer Mix
  • Insurance Payments
  • Self-Pay Payments
Denial and Rejection Indicators
  • Front-End Rejection percentage and reason
  • Denials by Payer
  • Denials by CARC 
As you can see the list can be endless and what should you be tracking.  Our consultants can help you answer that and then help you stick to it.  By regularly reviewing these key performance indicators and taking action based on the results, improvements can be made.  PHIcure Analytics can help with that. Contact us today to learn more.  Remember, if you don't track it you can't change it.

About PHIcure

PHIcure, Inc. is a leading healthcare communications company connecting healthcare organizations to their payers, providers, and patients. Our secure cloud based solutions allow organizations to manage their revenue cycle from any web browser in any location. We connect our partners to thousands of payers throughout the US and to their patients to successfully manage every aspect of communication in the revenue cycle.

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09 August 2017

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