Improving self-pay is not a set it and forget it proposition. It requires much focus for continuous bottom-line improvements.
Today, patient financial engagement is more challenging than ever due to increases in patient payment responsibility. As a result, providers have seen their billing-related costs and accounts receivable levels increase.
To combat these challenges, healthcare revenue cycle managers must track and evaluate their revenue cycle metrics to run their operations more effectively. These metrics inform providers on what’s working and what’s not, in order to guide overall patient financial engagement initiatives and optimize results.
Apex’s “6 Patient Revenue Cycle Metrics You Should Be Tracking” SlideShare identifies key metrics that all healthcare revenue cycle managers should monitor to increase collection yield and reduce costs. These include: cash collected, statement billing costs, eStatement performance, payment performance by channel, revenue performance, and other billing-related costs.
For more information on each of these revenue cycle metrics, and their value to providers’ bottom-lines, follow this link to the full SlideShare presentation: http://bit.ly/1gce59o.