The world of healthcare has changed dramatically, especially since the COVID-19 pandemic. There has been a shift in stressing the importance of fees based on a service that is provided to fees based on the value of the care that has been provided. Providers are now following up on patients and the outcomes of their care, rather than simply looking at the numbers when services were provided. It’s making administrators realize how value-based care has changed revenue cycle management. One of the most impressive findings has been that payment for services has improved when the value of the patient’s experiences from start to finish has been the priority. Patients are much more willing to pay their bill when they feel that they are important and their well-being is the driving force behind services.
Healthcare revenue cycle management has always followed the billing and payment process from the moment a patient first receives treatment to the day the bill is paid in full. It’s important to bring in professionals to have a better understanding of how value-based care has changed revenue cycle management. Find the connection between excellence in service and strong finances. Your patients are going to be much more willing to pay their bills in a reasonable amount of time when they feel like they have received the best treatment possible. If patients feel their healthcare system has failed them, they will let the bill go to collections. Learn how you can improve healthcare revenue cycle management when you visit GeBBS Healthcare Solutions.
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