With the rise in popularity of high-deductible health plans, patients are shouldering more of the cost for the care they receive, and hospitals are interfacing more than ever with patients to collect on accounts.
Bruce Haupt, CEO of patient financing company ClearBalance: As patients take on more financial responsibility for their medical care, the professional criteria for successful registration and billing department employees has changed. Revenue cycle leaders need to consider new applicants with a high-level of financial and insurance expertise who are capable of engaging patients in productive conversations about their benefits. Hospitals have a vested strategic interest in developing and recruiting RCM personnel with a higher skill set, and that requires capital investment.
To learn more about the change taking place in revenue cycle management, access the full interview with Mr. Haupt here.
If you would like to share your RCM best practices, please email Ayla Ellison at aellison@beckershealthcare.com to be featured in the "RCM tip of the day" series.