Healthcare Providers
Banks have a number of ways they can grow by offering new services in the healthcare payments space. This healthcare payments video series features interviews with Mark Brousseau, President of Brousseau & Associates. In these forward thinking interviews, Mr. Brousseau provides insight to the marketplace of healthcare payments by helping to identify the challenges in today’s market, identify a path toward streamlining revenue cycle management and offers a roadmap for banks to better support the needs of healthcare providers.
Read MorePractice management (PMS) software runs the business side of healthcare, from scheduling patients to billing to generating monthly reports. Unlike with electronic health records (EHRs), selecting and overseeing a PM system isn’t typically the physician’s domain. In a large practice, it typically falls on the office manager’s or IT manager’s shoulders.
Read MoreFormer Health and Human Services Secretary and Governor of Wisconsin, Tommy Thompson is interviewed by healthcare payments expert, Mark Brousseau, President of Brousseau & Associates in Q&A Session #8. Healthcare providers are finding the current business environment to be very challenging from a financial standpoint. Major market factors such as the Affordable Care Act (ACA), a slow growth economy and consumerism are squeezing the bottom line of providers.
Read MoreFormer Health and Human Services Secretary and Governor of Wisconsin, Tommy Thompson is interviewed by healthcare payments expert, Mark Brousseau, President of Brousseau & Associates in Q&A Session #7. There are many pain points in the healthcare industry today. Many of them are due to the uncertainties of the future, which are tied to a general confusion on the implications of new regulations. Healthcare providers, payers and other players are all affected.
Read MoreFormer Health and Human Services Secretary and Governor of Wisconsin, Tommy Thompson is interviewed by healthcare payments expert, Mark Brousseau, President of Brousseau & Associates in Q&A Session #4. Gov. Thompson talks about how patient responsibility may increase out of pocket expenses for the individual. If the end result is not “extreme”, this will be a positive influencer to the healthcare process and reduce excessive procedures, therein reducing costs within the process because there will be less denials.
Read MoreFormer Health and Human Services Secretary and Governor of Wisconsin, Tommy Thompson is interviewed by healthcare payments expert, Mark Brousseau, President of Brousseau & Associates in Q&A Session #3. In this interview, Gov. Thompson talks about the impact of Accountable Care Organization (ACOs). ACOs are groups of doctors, hospitals, and other health care providers, who come together voluntarily to give coordinated high quality care to their Medicare patients.
Read MoreHealthcare providers are now outsourcing more of their revenue cycle functions. Large banks saw this medical banking potential several years ago and moved quickly to offer added-value services such as EOB conversion and treasury management capabilities specifically for this niche.
Read MoreThe casual observer can be excused for believing that a single government web site represents the extent of healthcare technology. But behind the scenes, the following major technology trends will have a significant impact on the healthcare industry in 2014 and on revenue cycle management (RCM).
Read MoreThe Affordable Care Act (ACA), aka Obamacare, is unlikely to bring together Republicans and Democrats. But ACA is bringing innovation to healthcare payments arena. Standards within the law make it easier to reconcile electronic funds transfer (EFT) payments, most commonly Automated Clearing House (ACH) transactions, received by providers with the corresponding electronic remittance advice (ERAs), including EDI 835 or EOBs.
Read MoreWorking with a financial institution for healthcare payment processing via a medical lockbox is an excellent method to eliminate inefficient in-house manual processes for healthcare providers. Providers can typically reduce overhead, improve collections in receivables, decrease bad debt/write-offs, reduce fraud and eliminate paper in the office. While the benefits can be impressive, selecting the right vendor can often be a confusing task.
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