Since the inception of the Affordable Care Act on March 23, 2010, the responsibility of payment on healthcare related services has shifted significantly to the private patient. Industry data suggest the patient’s responsible portion of the $1.00 of service rendered today meets or exceeds .17￠, and by the year 2020, will approach or breach .30￠. Providers are more prone today than ever to recover these patient responsible balances due to the impact they have on their organization’s cash flow.
Presenting episode two in our Building Towards Successful Policy Management webinar series - "Steps for Rolling Out a Policy Management Process". Now that we've appropriately established the foundation of a comprehensive policy management strategy for your organization, the second step toward comprehensive policy management is to begin the implementation process.
At Etactics, we are constantly striving to improve the experience we provide to both our clients and new users. It is important to us that we bring you with the best experience possible and in order to achieve this, we must continue to stay up-to-date on the latest design trends. As such we've decided to kick off Q2 of the 2018 year by completely redesigning our corporate website.
All organizations need well-managed policies and procedures. Your policies and procedures are the first line of defense against risk, and they help your organization run smoothly. Is your policy management process effective? Is it up-to-date? Now is a good time to review your policy management process. We've created a three-part webinar series to help you.
It's no secret that many American companies thrive on their morning cup of coffee. In fact, it can be said that the general population of America is obsessed with coffee since we consume around 400 million cups of the stuff per day. With that cup of coffee, you require a physical cup and likely a lid, which are more than likely made of both paper and plastic materials. For one person, it may not seem like this cup of coffee is harmful to the environment but if all 146 billion cups of consumed coffee used disposable paper and plastic containers, it would have a huge negative impact on the environment.
We are pleased to announce a new partnership as EncounterWorks' preferred clearinghouse. We look forward to working with their clients and place a special emphasis on the customer service we provide for them. Furthermore, current EncounterWorks clients can look forward to a plethora of new features that make it easier than ever to send and receive claims.
If your patients can't pay their statements, your accounts receivables days go up, cash flow slows down, bad debt mounts and revenue shortfalls are inevitable.
Self-pay is an additional burden for hospitals that are already struggling to reduce costs and increase revenue. Increasing efforts toward collecting past due medical debts on is a necessary process that many hospitals who have limited resources cannot afford to do on their own. Luckily, there are is a plethora of affordable outside services that can aid in this process, many of which are cloud-based.
2018 is upon us and as many accounting businesses prepare for the new year, it's important to understand some of the biggest industry trends. If you take a look back at the accounting trends in 2017, the majority of them were surrounding cloud-based and automated solutions. So, what are some of the changes that we can expect to see in 2018? Have the trends changed much? Well, the short answer is no. But continue reading if you'd like to know the accounting trends for 2018.