Date post: | 07-May-2015 |
Category: |
Healthcare |
Upload: | nextgen-healthcare |
View: | 102 times |
Download: | 0 times |
To learn more about how NextGen RCM Services can improve your bottom line contact us at (314) 989-0300 or visit nextgen.com/RCM.
INF2-5/14
ACTION STRATEGY NEXTGEN RCM SERVICES
Have a defined credit and collection policy
Implement a Credit Card on File Program (CCOF)
Collect patient balances up front
Make sure staff is well trained
Make staff accountable for collecting
Assess patient’s propensity to pay
Offer online payment options
Maintain current patient demographics
Template supplied by RCM, best practice implemented by RCM
RCM implementation of CCOF
AutoFlow, contract management, set up best practices
Train staff on best practices
AutoFlow collect note
RTS, NextGen® Eligibility Self Pay (ESP), Retro Eligibility Checker, Patient Estimator,
Patient Financial Counselor, Pended Payment HIX
NextGen® Patient Portal
NextGen® EDI FastForward
Adopt patient-friendly statements
Adherence to HFMA's Patient Friendly Billing Guidelines
CLIENT SHOWCASE
Keith Froleiks, Practice Administrator I Rockland Eye Physicians & Surgeons
Working with NextGen RCM Services to collect more self-pay from our patients at the time of service, we have improved our procedures
to the point that in the recent months, self-pay patients are Rockland’s
number one source of collections on a monthly basis.
WATCH VIDEO
MAXIMIZEself-pay collections at every opportunity
Bill
ing
& C
olle
ctio
ns Exp
ertise Patient Services Staff Training
M
ax Use of Technology Best Softw
are Impl
emen
tati
on
Follow-Up
Appt.Scheduling
Pre-Visit
Check-InCheckout
Outsource inbound and outbound patient calls, statements, and letters
Provide patient-friendlystatements
Alert front desk of past due balances and estimated
patient responsibility
Optimize work flows fromfront to back office functions
Apply best technology configuration for
optimal collections
Identify uninsured and verify insurance
Maximize use of automation for patient and insurance
info prior to appointments
Provide Staff training on best practices for collecting efficiently
Use online payment tools
Establish/maintain bad dept policy
NextGen RCM Services
NextGen RCM Services provides a dedicated outsourced resource to help your practice fully optimize
revenue while maximizing technology use and streamlining billing and A/R processes. This one-platform
approach connects and synchronizes the clinical, administrative, and revenue solutions across all areas
of a practice ensuring you capture every dollar you deserve.
Outsource revenue cycle managementto NextGen RCM services
OPTIMIZEYOUR SELF-PAY COLLECTIONS
Patients are typically responsible for 30-35% OF THEIR MEDICAL BILLAccording to Intuit 2012, MGMA 2012, McKinsey & Company 2013
Overall, the number of people with high deductible plans rose TO 15.5 MILLION IN 2013 FROM 1 MILLION IN 2005 (annual deductible of $1,250 or more for individual coverage)
According to America’s Health Insurance Plans, the industry’s lobbying group in Washington.
If patient payments are not managed correctly, THEY CAN COST THREE TO FIVE TIMES MORE TO COLLECT THAN PAYER PAYMENTSAccording to Trends in Healthcare Payments Annual Report: 2012.
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •
QUICK FACTS
0
10
50
100
Before theysee their physician
At checkout After leaving medical practice
90%
70% 40%
% LIKELY TO PAY
Source: McKinsey & Company 2013
Collected
COLLECTED AFTER TIME OF SERVICE
Not Collected
79%
21%
Source: SuccessEHS study - Increasing Patient Collections:A Study on Patient A/R - Oct. 2013