It’s easy to think that aged commercial health insurance claims (those that have gone through all three state-level appeals without being paid) and patient experience have nothing in common. This isn’t true at all. According to a recent article in Becker’s Hospital CFO Report, upgrades to technology can help with both verifying the accuracy of claims and with tracking them. It all comes down to the appropriate use of analytics.
How Technology Helps Hospital Billing Departments
Technological advances come out all of the time, and the more that hospital billing departments embrace these changes, the easier things become. According to the experts, “Technology solutions, such as artificial intelligence, automation and predictive analytics, help hospitals and health systems streamline manual processes and offer a more consumer-oriented approach to revenue cycle management. Automating tasks, such as authorization and eligibility checks, allow front-end revenue cycle staff to give patients the information they need in real-time. Advanced technologies like predictive analytics and AI can help determine whether patients would benefit from a payment plan.”
This goes a little beyond the limits of the billing department, but the effects are obvious, “From registration through billing and payment, healthcare providers must eliminate any unnecessary friction during patient interactions to create a convenient experience. Digital service integration helps front-end staff get the patient experience right from the start by compiling information into an easy to access platform. Revenue cycle team members are more engaged with the patient when the distraction of juggling multiple tools is removed, leading to a better patient experience.”
Hiring the right people helps as well, “The combination of tech and talent is the key to improving revenue cycle performance and the patient experience. Technology alone can make a big difference, but it cannot replace the human element of the revenue cycle process. Therefore, healthcare organizations should focus on hiring the right type of talent and training revenue cycle staff to enhance the patient experience.”
Aged Claims? Get the Help That You Need to Clear Them Up
It’s time for you to take control of your hospital’s financial future. You need to ensure that your collection rate from commercial health insurance companies is 100%, including your aged claims. This is why you need to contact ERISA Recovery today so that we can help put the Federal ERISA appeals process in motion. You can reach us at (972) 331-4140 or by filling out the contact form on our website.