BHG Patient Lending
Around the country, surgery centers are reopening or preparing to reopen, all with the goal of maximizing procedures and kickstarting revenue cycles after COVID-19 shutdowns. Most centers have focused significant energy and resources on preparing their staff and centers to meet CDC, state, and federal safety guidelines. However, there are additional preparatory measures you should consider in order to provide a positive experience for your patients and protect your revenue.
For most ASCs around the country, 50% of all patient financial responsibility goes uncollected following a procedure1. While several factors contribute to unpaid patient bills, there are simple steps that surgery centers can take to increase payment rates while also improving patient experience. It all starts with procedure price transparency.
With the current healthcare landscape in a state of flux, many ASCs have questions about how to navigate their business operations and maintain connection with patients. COVID-19 has put surgery centers in an unprecedented position, with many struggling to determine the answers to critical operational questions like, “Do we hold off on submitting insurance claims?” “Do we hold off on collections?” “Do we hold off on patient communication until we know more?” The truth of the matter is, to preserve patient relationships and financial viability, ASCs must act–now.
Physicians Practice recently interviewed Keith Gruebele of BHG Patient Lending about how a patient lending program can benefit both healthcare facilities and patients.