A helpful financial experience not only builds patient loyalty and satisfaction but also generates repeat business and referrals. Here are some insights into how patients pay by generation.

According to the AHA, 79% of the 4840 US community hospitals today are nonprofit which means that these hospitals may qualify for favored tax treatment under federal tax laws, as well as a variety of state and local income, property and sales laws. Read more after the jump.

Hospitals under 501r. Did you know that your billing & collection policy must explicitly state the actions the hospital may take in the event of non-payment? Here are some other helpful insights...

With patients having more financial responsibility for their healthcare, outpatient settings like surgery centers are becoming more attractive to patients. In general, procedures at ASC’s are 35% to 50% than hospitals. This steady growth for ASC’s presents new opportunities but will also present some new challenges as well. What are the major challenges?

With an increasing number of patients with high deductible health plans, it is essential that ambulatory surgery centers leverage technology and automation to improve the patient financial experience. A recent report shows that the ASC market could grow to $120.8 billion industry by 2026 but there is a great need to begin using technology to make improvements to the patient financial experience.

To maximize revenue claims denials management, healthcare providers need to follow the advice “an ounce of prevention is worth a pound of cure.” For surgery centers and surgical hospitals, being proactive means preventing revenue leakage and being profitable. Building a solid strategy and doing regular checkups to maintain a healthy bottom line sets your facility up for growth.