Healthcare Revenue: A Process Checklist
By John Cook, Chief Client Officer
The rapidly changing atmosphere in healthcare revenue cycle requires a continual evaluation of current processes and discovery of where new processes need to be implemented.
Here is what your colleagues and peers feel is critical, some defining questions to ask, and it serves as a valuable checklist:
- Is Pre-Encounter/Pre-Admission a priority? What other processes could be streamlined or improved through a strong Pre-Encounter program?
- Are you providing a five-star Patient Experience and providing advocacy on the back end?
- Are you able to make patients aware of financial liabilities prior to admission? What tools or technology are you using for estimations?
- What attempts are being made at the point of service to collect co-pays, deductibles, or self-pay?
- Are financial counselors available at admission or pre-admission? Do you have programs in place to assist patients with other payment options?
- Are your current billing software packages efficient?
- Is your statement presentment concise and understandable? What options do you offer for online statements and online bill pay?
- Do you currently have an in-house staff working self-pay and balance after insurance? Have you considered outsourcing this task?
- Are your collection policies and procedures up to date? Is there complete buy-inn” from everyone involved?
Please feel free to reach out if I can assist. I may be contacted at firstname.lastname@example.org or 866-907-8023.