5 Advantages of Streamlining Healthcare Payments

Streamlining the entire healthcare remittance process can benefit hospitals and healthcare providers in a variety of ways, according to KeyBank.

Advertisement

Here are five benefits of using an automated, all-payer system to manage payments.

1. Enhanced payment control with robust data posting and reporting.
2. Minimized losses and recaptured revenue resulting from denial trend recognition.
3. Greater efficiency, compared with manual data processing.
4. Better revenue decisions because of automated reconciliation of third-party reimbursement reports.
5. Simplified secondary claims process, allowing for the collection of more billable revenue.

More Articles on Healthcare Finance:
Lawmakers Question Why Sovaldi Costs $1k a Pill
Multi-Tracking Financing: Box Butte Funds $40M Renovation, Expansion
Moody’s Revises Aurora Health Care Outlook to Positive

 

Advertisement

Next Up in Financial Management

  • Healthcare leaders are often expected to compartmentalize emotion to make difficult decisions, drive results, and maintain operational focus. For many years, I led…

  • Chicago-based CommonSpirit recorded an operating income of $2 million (0% operating margin) in the second quarter of fiscal 2026, down…

  • Amy Assenmacher, RN, senior vice president of revenue cycle at Grand Rapids, Mich.-based Corewell Health, is confident that healthcare is…

Advertisement

Comments are closed.