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TransUnion Healthcare on Tuesday released a report showing patient deductibles and out-of-pocket costs both increased by 13% between 2014 and 2015. “It’s clear that patients are becoming the new payer – a major source for payments to hospitals at both the time of service and after procedures,” said Jonathan Wiik, principal for revenue cycle management…
Read MoreBanks are facing bigger and bigger challenges to ensure new accounts are actually legitimate. Once fraudsters create an account under a false identity, it can be very difficult to stop before its too late. To make it more difficult, online applications and online account opening give fraudsters the upper hand in manipulating their identities. From the American…
Read MoreThe HFMA ANI conference in Las Vegas, Nevada concluded yesterday. The sessions and keynote presentations were well coordinated and integrated with the theme — “Out of the Box” — for the finance and revenue cycle groups within hospitals. The challenge of our healthcare revenue cycle and payment process is to understand how one can actually attain a level of…
Read MoreIt’s not a live-in-person teller, and it’s not an ATM. But, based on conversations I’ve had with some of my older, more set-in-their-ways relatives, it may be the only way to get certain people to make use of a “machine” to do their banking. The interactive video teller machine certainly looks like an ATM, but the remote…
Read MoreThe challenges of achieving an efficient healthcare system are far reaching. In the US, we are all familiar with HIPAA, healthcare fraud, delayed payments, PCI and the challenges of converting from traditional workflows into digital. As companies like OrboGraph help facilitate a transition to full automation of the insurance payment process, others are introducing innovations…
Read MoreFed. Government: “Technological and other processes exist that allow financial institutions to fully reconcile discrepancies in deposit accounts”
Read MoreJaeme Adams, cofounder and CEO of SwervePay, has an interesting take on improving the reliability of patient payments. He lists three very good reasons to take seriously what he calls an “illness” infecting Healthcare provider offices across the country: $32 billion could be recaptured annually if the patient billing and payment process was simplified. This can be…
Read MoreIn an article ostensibly about a new mobile pay program introduced by a little company called Google, there is interesting challenge that mobile payments needs to overcome to go truly mainstream. Volume decline…
Read MoreDo you agree with RevCycle Intelligence’s ranking of the top five most common pain points for the hospital revenue cycle? Billing and collections errors Health information technology challenges Lack of staff training Failure to monitor the entire claims process Failure to have a financial policy The article is well worth reading, because it offers useful solutions. Given the…
Read MoreIt should come as no surprise to security-obsessed online merchants that fraud is the leading concern of e-commerce merchants polled by the Merchant Risk Council, a Seattle-based worldwide association of e-commerce payments and risk-control executives. The MRC polled a total of 193 merchants in December and January at companies of varying industries and sizes (see their report…
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