The health insurance industry is in a time of evolution, both from changes in the last 10 years, and the next 10 yet to come. Through the shift in presidential administrations between the last three terms, there has been repeated efforts to repeal or significantly change the healthcare insurance landscape. From administering the Affordable Care Act, to modifying and attempting to repeal or replace it, changes have left providers on the edge of their seat, trying to manage it all.
For healthcare facilities, all of these factors combine to create an environment where patients could easily face a significantly different health insurance situation year after year. It's up to vendors and providers to continue to provide solutions that effectively capture patient payments and maintain a steady revenue stream, despite all the changes.
A Rapidly Changing Environment for Healthcare
"The end result is a reliable solution in an uncertain environment."
There are so many changes in healthcare that it can be hard to keep up. With the ACA significantly changing the way providers and payers operate, there are even more changes to learn about and act upon. Many facilities had to make significant changes to administrative processes following the implementation of outcome-based payments for a variety of services covered by Medicaid. Plenty of other elements of the law required similar responses. In some cases, providers are still adjusting to the new normal.
The repeated efforts of the current presidential administration and Congress to remove the ACA adds another dimension of uncertainty for healthcare providers. That situation could lead to coverage changes for millions of Americans and have a significant impact on how a percentage of patients at nearly every organization pay for the care they receive.
Providers Have Options to Enhance Payment Capacity
While major changes in the market may require a response from providers, they aren't insurmountable problems. What can facilities like yours do to keep up? These three improvements put providers in a better position to continue moving forward in a positive direction:
- Implement a patient payment solution that gives your staff the tools necessary to easily and effectively capture revenue.
- Help patients pay their bills. Eliminate situations where patients are able to pay but don't have the right method to do so.
- When necessary, offer options to patients that allow them to pay their bills over time - without your facility entirely losing out sending to collections.
Secure Bill Pay offers providers the solution that removes roadblocks to capturing revenue. With tools like account on-file and recurring payment plans, your facility gives patients flexible options without reducing the reliability to which you capture revenue. With a single, unified platform for managing patient payments, your facility gains more insight into all aspects of operation, from point-of-service payments to reconciling and refunding. The end result is a reliable approach in an uncertain environment.