For patients, it is about a frictionless experience at the time of service. At the heart of payment, acceptance is the reduction of outstanding patient balances and the reduction of bad debt. According to one study by Aite Group, as much as 40% of patient responsibilities are uncollected. To optimize healthcare payments, providers need an effective tool in practice management that would include integrating patient statements with EOBs, payment options at the time of service and afterward, in-office and remote [telehealth] payment options, and comprehensive patient education for payment management. The US healthcare system is complicated, and affordable care remains challenging for providers and patients alike. Billing rules and regulations change frequently and can cause revenue losses due to billing errors and revenue cycle failures.
the difference between a rejected claim and a denied claim, minimizing coding errors, handling denied and rejected claims with prompt appeals and resubmissions, finding ways to improve to implement proactive billing practices, and then tracking performance for efficiencies. Given today's economic realities and healthcare affordability, many patients are in high-deductible plans and focused on managing out-of-pocket expenses – especially for exclusions, unmet deductibles, and self-insured costs. Offering real-time information and collecting balances due at the time of service is becoming the norm in healthcare.
Billing tips to maximize revenue include having a clear collections process with terms and conditions for patient responsibilities, managing claims properly and understanding
enTrust Healthcare Payments Tools to increase pa�ent payments for medical, dental, and home care offices. We offer a suite of services to help you get paid faster! Contact us to learn more about our complete suite of payment solu�ons and begin to op�mize your healthcare revenue cycle management strategies. Call: 610.216.1442 Visit: www.entrustmerchant.com Email: info@entrustmerchant.com
enTrust Payment Services A company of Sherwood Management Group LLC
enTrust Payment Systems is a managing ISO/Agent of BAC | Credoma�c [NYSE:AVAL] and a registered ISO/MSP of BAC Florida Bank, Miami, FL. enTrust Payment Systems is an ISO/Agent of Priority Payment Systems LLC [NASDAQ:PRTH] and a registered ISO/MSP of Wells Fargo Bank, N.A., Concord, CA; Synovous Bank, Columbus, GA; and Axion Bank, N.A., Maitland, FL.
MyNetworkMag.com
NETWORK MAGAZINE™
25