Too many cooks make the healthcare broth incredibly expensive
Why would someone pay for the cost of documenting, abstracting and transmitting their health records? Yet, this is what patients have been unquestioningly doing forever and a day. It is not just the patients who are at the receiving end of a byzantine administrative and billing process. Physicians get the short end of the stick as well. The pressure to lower their cost base and rising overheads have backed healthcare organizations into a corner.
Healthcare costs have risen steadily over the years. Though efforts are being taken to lower the cost of care, unify fragmented processes and drive efficiencies across the healthcare continuum.
Do you know that it takes a minimum of seven people to complete billing related tasks? In the consumer-driven healthcare industry it is essential that patients are kept in the loop. The steep hike in patient payment responsibilities have made it mandatory that physicians focus on patient billing. Medical practices are now investing in expensive technology advancements to ensure robust management of patient receivables.
To lower the cost base of medical practices BillingParadise has taken proactive steps to shorten the billing cycle through automating processes, hiring experienced billers and coders to prevent denials as reworking denials is pretty expensive and help healthcare organizations to transition from paper-based processes to tech-driven ones. Our wildly successful EHR payment program covers the monthly EHR subscription fee of our clients so they are strongly incentivized to take the big leap.
But do things need to be expensive and complex to keep the healthcare industry running?
This news article by New York Times reveals the hidden costs that are a thorn in the flesh of both patients and providers. Though some costs are necessary, as this article says, there are some money drainers that can be avoided.
