Hospitals bear more than half of the industry’s total bad debt, and the likelihood that patients will pay their bill drops dramatically once they leave the hospital. In an industry plagued with rising costs that are increasingly shifted to patients who are increasingly unwilling or unable to pay, providers must take a proactive approach and collect from patients at all points of service to successfully manage bad debt.
Hospitals and healthcare systems are also feeling increasing pressure to better understand their data. What often makes that data difficult to access and utilize to its fullest potential is the sheer amount of it – an explosion of data has resulted from compliance, quality, payer and interoperability initiatives.
That's why RelayHealth offers several solutions that can facilitate successful healthcare revenue cycle management and analysis. Organizations need to know what is happening now, what is likely to happen in the future, and what actions they should take to get optimal outcomes.
Pre-service and point-of-service financial solutions enable staff to conduct complex financial discussions, manage patient expectations, handle pre-service financial clearance activities, and accept payments anywhere in the facility.
RelayHealth’s healthcare analytics solutions give hospital leaders instant insight into the key areas that impact their financial revenue cycles. Through our leading healthcare business intelligence technologies, your facility can identify new opportunities, keep up with financial trends and gain an overall insight into the data you need to support your decisions.
Using the right side navigation, explore our hospital revenue cycle management solutions and resources, or contact us if you have additional questions. Our hospital revenue cycle management solutions adhere to HIPAA compliance requirements so your facility can begin to maximize revenue while adhering to industry standards.