Adventist Health Sees 20 Percent Increase In POS Collections With Patient Access
With uncompensated care on the rise, Adventist Health uses MedeAnalytics Patient Access to increase point-of-service collections, improve the patient experience, and streamline patient registration workflows.
Challenge: Point-of-Service Collections Represent Untapped Opportunity
According to a 2011 TransUnion survey 1 , seven out of ten hospitals and health systems reported collecting less than 30 percent of payments at the point of service.
This directly affects back-end collections and bad debt. Of payments that go to the back end for collections, most respondents said that less than 60 percent of payments were made. In fact, nearly a quarter of those polled said that recovery rates were less than 15 percent. In the same survey, respondents noted that determining what a patient owes is the biggest hurdle to increasing point-of-service collections.
Given the disparity between front-end collections and back-end recovery rates, any improvements in point-of-service collections enable hospitals to realize a relatively untapped source of revenue and reduce bad debt.
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