Hospital Access Management – January 1, 2014

January 1, 2014

• 95% of revenue collected at time of service: Exceed ‘low hanging fruit’

  There is still a significant amount of untapped revenue with upfront collections, say patient access leaders. By putting information on the patient's responsibility in the hands of registrars, Danbury Hospital now collects 95% of revenue due at the time of service, up from 50% in 2006.

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• Find better fit for struggling collectors

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• 30-minute session sharpens skills

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• Price estimate is biggest challenge

  After price estimation technology was implemented at Ohio Health, collections increased from $12.8 million in FY 2013 to more than $19 million in FY 2013.

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• Collections are now at $540,000 monthly

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• These collections tips are tried and true

  Successful collectors agree that requests for money should be respectful and matter-of-fact.

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• Collections to top $8 million in 2013

  Difficulty getting pricing info is challenge

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• 1% of net revenue: Tools needed to do it

  To excel at upfront collections, patient access need real-time insurance verification, patient risk scoring, and payment estimation tools, according to revenue cycle experts.

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• Patients to have Web, bedside pay options

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• Teach staff to fix collection mistakes

  Patient access leaders should explain to employees why collection is important to the hospital and instruct staff on how to correct mistakes.

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• Have staff members learn from top collectors

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• Training is key to pre-service center

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• Offer incentives to top collectors

  After implementing incentives in 2013, OSF Healthcare collected more than $30,000 in copays, up from $2900 in 2012.

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• Provision of Obamacare fuels sticker shock

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