In a recent article Becker’s ASC gave the following 5 solutions to generate improved ASC cash flow:
1. Prepare for more risk patient payments.
2. Expect collection early or at time of service.
3. Develop payment protocols for patients and make sure they understand it.
4. Remove ambiguity from the process.
5. Shorten accounts receivable days with better claims organization.
Many ASC’s, physician groups, and hospital systems are seeing great success working to solidify pricing and collect payment from patients upfront instead of waiting until after the procedure(s) has been completed. In a new healthcare environment that is seeing skyrocketing deductibles, and fast-growing patient responsibility, patient financing can become every healthcare providers new best friend.
Deductible financing and loans for high deductibles are the new reality of the modern day healthcare environment.
By using American HealthCare Lending’s financing platform, ASC’s (and other healthcare providers) are following all 5 of these tips. Patients who obtain a loan through AHCL are able to afford a treatment or procedure they may desperately need. Being able to pay over time instead of coming up with the entire amount upfront can be life saving in many different ways.
Through American HealthCare Lending’s innovative, Financing as a Service™ (FaaS™) model, healthcare providers can access a fast, easy, and convenient financing platform that will lead to lower accounts receivable and increased revenues. To learn more visit: www.americanhealthcarelending.com