BC Advantage - 2023 Issue 5
Overcoming Self-Pay Challenges in Revenue Cycle Management
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Article Overview
This article discusses how affordability challenges, insurance cost trends, and rising patient responsibility are affecting healthcare revenue cycle management. It is aimed at providers, billing and collections teams, and RCM leaders who want a high-level understanding of self-pay account management, collection challenges, and account segmentation concepts.
Why This Topic Matters
Patient out-of-pocket burden continues to affect collections, bad debt, and revenue realization for healthcare organizations. Understanding the broad operational issues around self-pay accounts can help revenue cycle teams assess workload, prioritize accounts, and plan for evolving collection challenges.
Article Sections
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Healthcare affordability and uninsured trends
This section reviews broad trends in insurance coverage and affordability in the U.S. It frames the financial pressures that can affect patient payment behavior and provider collections.
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More self-pay, more problems
This section describes the growth of patient responsibility and its impact on bad debt and collections. It focuses on the overall operational challenge created by higher balances and more frequent patient payment issues.
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A multi-pronged approach to self-pay accounts
This section outlines a general revenue cycle management approach for organizing self-pay accounts. It covers broad account segmentation and prioritization concepts used to support collection efforts.
What You Will Learn
- How healthcare affordability trends can influence patient payment patterns
- Why self-pay accounts create operational pressure for revenue cycle teams
- What broad categories are often used to organize self-pay account work
- How revenue cycle management teams can think about prioritizing patient receivables
Who Should Read This
- Revenue cycle management professionals
- Hospital billing and collections teams
- Healthcare finance leaders
- Provider practice administrators
- Patient accounts staff
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