Here are five articles published by Becker's Hospital Review this past week offering insight on billing, how different payers affect hospitals' revenue cycle management, an Ohio medical group's RCM turnaround and more.
1. Survey: Nearly 70% of patients more likely to pay bill if they receive cost estimate on day of service
Apex Revenue Technologies released its latest patient financial experience survey.
2. For commercially insured patients, observation status may improve cost savings
Providers are increasingly putting patients under observation before deciding to admit them for inpatient stays, resulting in substantial cost savings for commercially insured patients and their insurers, according to a study published in Health Affairs.
3. Price of ER fee nearly doubled between 2009 and 2015: 7 things to know
When patients face excruciating pain, sometimes their only option is an emergency room. But ER visits are becoming increasingly expensive due to facility fees, according to a Vox analysis.
4. Small differences between payers have significant affect on hospitals' AR, Crowe Horwath finds
A number of factors affect hospital revenue, and one of those is small disparities between commercial insurers, according to a Crowe Horwath analysis.
5. Lessons from an Ohio medical group's RCM turnaround
As medical groups strive for revenue cycle optimization, it is important they benchmark and keep track of key indicators. Failing to do so can lead to a number of issues, such as high days in accounts receivable and low monthly collections.