It’s no secret: Americans are drowning under heaps of medical debt. In fact, a recent study conducted by the Kaiser Family Foundation found that more than 25% of patients struggle to pay for the medical treatment they have received, and that medical debt is the number one cause of personal bankruptcy filings in America. These figures are staggering, and as a health care provider, you probably wish there was something you could do to lessen the financial struggle for your patients. Thankfully, there is! At Epic River, we can provide you with patient billing solutions that not only benefit your practice, but also your patients.

Does your medical office struggle with finding the right balance between providing patients the affordable care they need and maintaining efficient healthcare billing and revenue cycle management? If so, you aren’t alone. The American Hospital Association reports that community hospitals provided more than $38 billion in uncompensated care to patients in 2016, undoubtedly leaving many medical professionals unpaid for their services. Finding a solution to this problem is challenging, but finding and implementing the right healthcare billing platform can help.

Have you ever put off getting medical care that you knew you needed? Even those who work in the healthcare industry avoid getting the treatment they need for one reason or another, whether it's due to financial concerns, a busy schedule, or simply a fear of treatment. At Epic River, we believe that finances should never be a hindrance to obtaining necessary medical care, so we set out to break down the financial barriers that patients often face. Our healthcare billing solutions benefit patients and physicians alike, making it easier for individuals to get the care they need to enjoy optimal health.

Does your physician’s office struggle to maintain low days in accounts receivable (DAR)? If so, then you have probably made a variety of administrative and procedural changes with the hope of recovering outstanding patient responsibility more efficiently. Some of these changes may have proven more effective than others, but if they are not sustainable, then you’ll likely find yourself back at square one. At Epic River, we understand that profitability is important to your practice, and we are here to help by providing medical billing solutions that work.

If your physician’s office is plagued with a large number of accounts that have an outstanding patient responsibility, then you likely know the negative impact late payments can have on your cash flow. Managing your revenue cycle efficiently and reducing your days in accounts receivable (DAR) is essential to having the funds you need for office improvement, employee training, and other expenses that ultimately contribute to patient satisfaction. Requiring payment at the time of service is a sure way to lower your DAR, however, this is not a feasible option for many providers and patients.

Like any industry in America, the healthcare industry faces many challenges. Recruiting and retaining qualified physicians, driving revenue growth, and encouraging employee engagement are among the most compelling overall. But, for many healthcare finance administrators, revenue cycle challenges are equally daunting. One reason for this is the constant struggle to collect payments from patients, which makes it difficult to maintain a low ‘Days in Accounts Receivables’ (DAR) rate. If this struggle sounds familiar to you, then Epic River is here to help.

Whether it is for a routine preventive health exam or treatment for a medical condition, everyone needs to go to the doctor at some point. Unfortunately, not everyone can afford to pay the medical bills associated with their treatment, leaving many Americans drowning in medical debt. In fact, a recent study concluded that nearly 43 million people in our country have unpaid medical debts. There are many reasons why a patient’s medical bills may go unpaid and in today’s post, we’ll review a few of the more common causes of the troubling impact this has on both personal bank accounts and the larger economy.

See the original press release here: https://www.prweb.com/releases/2018/07/prweb15624140.htm

As a medical provider, your number one concern is always that of patient health and safety. So what happens when outdated billing practices make it challenging for a patient to pay off their medical debt or worse, inadvertently prevents them from seeking the care that they need? In June 2017, the CDC reported that nearly 40 percent of Americans between 18 and 64 years old have a high-deductible health insurance plan, and that 15.5 percent of them reported difficulty paying their medical bills. It is an unfortunate fact that many individuals who seek care often can’t afford their out-of-pocket portion of the resulting bills because of these high deductibles.

Lately everyone is talking about strategies for improving upfront collections, providing estimates to patients sooner, clarifying patient expectations, and so forth. All of this is an effort to improve collection of patient responsibility. With the rise of high-deductible health plans (HDHPs), providers have been forced to adjust their collections processes in order to maintain financial health. According to a revenue cycle survey conducted by The Advisory Board Company, hospitals have doubled their median point-of-service collections over the last four years.