Creating Access and Engagement Across the Revenue Cycle

Creating Access and Engagement Across the Revenue Cycle

Posted Jan 30, 2021 from

Patient demand isn't the only reasonable access, and engagement is important; they also significantly affect practice revenue. Because of patients' greater financial responsibility, physician practices should think of them as a payer. From a bottom-line perspective, writing off self-pay dollars is no longer an option. Third-party reimbursement dollars are increasingly difficult to secure, especially due to value-based care, which intensifies the need for a patient payment strategy that educates patients regarding their financial responsibility and promotes payment.

For all these reasons, addressing the patient experience — including price transparency, plus patient access and engagement — will be crucial to physician practices' success and long-term growth.

Increasing patient financial responsibility has made the front desk's role in revenue cycle management (RCM) more important; therefore, the technology they use to determine and collect patient payments must be user friendly and able to streamline formerly tedious processes such as cost estimation.

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