Revenue Cycle Webinar Series 1 - Best Practices for an Effective Bad Debt Program

  • 11 Dec 2019
  • 12:00 PM - 1:00 PM
  • Webinar
Revenue Cycle Series 1
Best Practices for an Effective Bad Debt Program

Summary: In today’s health care environment, improving the patient journey is critical. Especially when an estimated 30 percent of hospital revenue is dependent on patient payments. 

High deductible health plans (HDHPs) require patients to bear a greater portion of their health care costs. This makes patients feel overwhelmed by incoming medical bills causing Accounts Receivable days to increase, leading to bad debt. Although a health care organization’s bad debt to net patient revenue should be under three percent, most hospitals are trending much higher due to increasing patient liability. This reflects the staggering 42.9 million Americans who are estimated to have a health care bill in collections today.

To avoid patient collections, hospitals need to educate their patients on understanding their responsibility and guide them on their financial journey.  The result is an empowered patient, not a confused one. Along with streamlining the billing process across the organization, other steps should be taken to build an effective bad debt program that educates patients and provides quality answers to their questions. By becoming their partner, it is possible to engage patients earlier in the process and get them to pay more of what they owe.

Learning Objectives:

  • Understand market trends for increased risk of medical debt, uncompensated care and rising collection costs. 
  • Examine strategies to increase payments and decrease patient objections through education and guidance that result in understanding of patient financial responsibilities. 
  • Understanding compliance and the impact on bad debt best practices.
  • Discover how propensity to pay can help accelerate your reimbursement and improve cash flow. 

Who Should Attend: Revenue cycle leaders, controllers, patient access professionals and CFOs

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