This week's 5 must-reads for hospital RCM leaders

Here are five articles published by Becker's Hospital Review this past week offering insight on patient demands regarding healthcare payment options, reducing denials, revenue cycle management service expansions and more.

1. Despite strong patient interest, only 8% are offered no- or low-interest loans
A majority of healthcare providers fail to discuss pricing and payment options prior to providing care, despite patient demands, according to the HealthFirst Financial Patient Survey.

2. RCM tip of the day: Use analytics to reduce denials
Data is one of the optimum tools healthcare organizations have to reduce denials and improve revenue cycle management performance, according to Gina Stinson, vice president of managed care services at Alpharetta, Ga.-based nThrive.

3. 5 recent RCM service expansions
Here are five revenue cycle management portfolio expansions involving healthcare vendors and providers so far in September.

4. 1 in 6 physician practices pay fees for electronic payments
About one in six physician practices must pay fees for getting paid electronically, according to a Medical Group Management Association Stat poll.

5. How to improve collections and patient satisfaction with a consumer-centric revenue cycle: A Q&A with Change Healthcare's Stuart Hanson
Stuart Hanson, senior vice president and general manager of consumer payment solutions at Change Healthcare, talks about how to transform a traditional revenue stream into a patient-centric revenue cycle that will improve collections as well as patient satisfaction.

 

More articles on healthcare finance:
Steward Health Care withholds financial information amid growth
Analysis: HCA, Tenet see uncompensated care costs rise this year
Financial updates from Advocate Health Care, Cleveland Clinic & 3 other systems

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