Solutions Overview
Situation
Consumer-driven health plans with high deductibles, and cuts in funding to both public-assisted and employer-sponsored plans have made self-pay the fastest growing segment of hospital revenue. In order to survive, healthcare providers must rethink traditional hospital revenue cycle processes in order to know their patients' complete financial health while assisting them with appropriate resolutions to their healthcare financial obligations.
Challenge
Healthcare providers must improve registration efficiencies with proactive solutions to maximize the cash flow necessary to sustain operations and continually provide superior quality of care. Complete, immediate and integrated data returned on one platform is critical for registration staff to react immediately and guide patients through the challenges of their financial responsibilities. Knowing who can pay and available sources of funds, all at the point of registration, is essential to building a healthy revenue cycle.