A recent article by VisitPay dives into how revenue cycle is affected when patient responsiblity is increased.
Editor's Note: This article originally appeared on VisitPay's website.
Patient payment behavior is changing the revenue cycle. Rising insurance deductibles and higher out-of-pocket medical expenses mean up to 30% of a health system’s revenue is now derived from the patient-as-payer population. In an interview at the 2019 Annual HIMSS Conference and Exhibition, Will Reilly, Vice President of Client and Consumer Marketing at VisitPay, addressed the impact increasing patient obligations has on the consumer experience in healthcare.
The revenue cycle is evolving from managing business-to-business transactions. It was designed in the age of government and commercial payers. Now the revenue cycle is a hybrid set of accounts receivable comprised of individual patients, insurance organizations, providers, as well as government agencies. The needs of the patient-as-payer are different from the needs of the more traditional government or commercial payers. But what does that mean for the revenue cycle team managing accounts receivable? Click here to continue>>
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