How finding missing coverage can boost your bottom line
With the evolution of healthcare, including the advent of the Affordable Care Act (ACA), changing reimbursement models and shrinking margins are placing greater financial risk on healthcare providers, forcing them to manage a growing number of self-pay, high-deductible health plan (HDHP) and/or health savings account patients from which to collect. In fact, the Centers for Disease Control and Prevention reports the number of people with HDHPs has risen from 25.3 percent in 2010 to 36.0 percent in March of 2015. These complex changes can be difficult for anyone to navigate.
Additionally, since 2000, hospitals of all types have provided more than $459 billion in uncompensated care to their patients. As a health system executive, you may only have previous experience managing in an environment where reimbursement was expanding. However, in this new reimbursement world and with shrinking margins and increased pressure to effectively manage the revenue cycle, it’s critical for your organization to think outside the box.
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