Unpaid self-pay balances are a leading source of bad-debt and elevated days in AR for providers, from small providers to the largest health systems and, unfortunately, that isn't likely to change any time soon. Bad debt in healthcare is..
Welcome to the ZirMed Connections blog! This is your direct connection to the insight from ZirMed’s massive cloud-based network of more than 300,000 healthcare providers, millions of patients and billions of healthcare transactions. You’ll hear from ZirMed’s leaders on the hottest topics in the healthcare industry and the inside scoop on the latest technology projects and company updates.
Collecting from patients has never been easy and, thanks to recent industry trends, it continues to become more and more difficult. Verifying insurance eligibility is still an important step but it isn’t always an indicator that payment is in the..
Did you know 65% of bad debt in healthcare comes from unpaid patient balances? With the rise in high deductible health plans, providers are challenged with collecting from patients on a continually increasing basis.
Leadership teams at hospitals and health systems are under constant pressure to grow their revenue, but at the same time, they’re stuck watching as margins shrink quickly. In 2014, 61.3% of hospitals reported a decrease in their profit margins..
While the goal of claims management is to get claims accurately processed and reimbursed the first time they are submitted, the reality is that complex and changing payer reimbursement policies and procedures make it a challenge. In..
Patient collections continues to be a challenging endeavor and that likely won't change any time soon. With the consumerization of healthcare, Patients’ expectations are informed by their more general expectations as consumers – yet patients also..
Denial management in healthcare continues to be a challenge for providers—in part because the traditional way of working denials is time-consuming, costly, and prone to error. Most denials are preventable, yet up to 65% are never reworked.
Think your medical practice has a healthy revenue cycle? If you haven’t focused – really focused – on managing denials, then think again. Statistics show that 90% of denials are preventable - that's right, 90%! And yet, many are never reworked.
Patients want convenient payment options, while providers need secure, flexible solutions to educate and collect from patients quickly. To make things more complicated, patient responsibility continues to increase and, unfortunately, collecting from..
Today 15 to 20% of gross charges are denied. Given new payment models that continue to shrink margins, it’s time for change management. How can you make a difference? Gain an immediate impact by identifying denial root causes and executing prevention..