The PFX Voice

Insights into improving engagement, net patient collections, cost to collect and loyalty.

Ensure Revenue Cycle Leaders Have These 3 Skills

By: Mike Sowinski

With the recent shift in the White House, the entire healthcare industry is bracing for changes over the next year or more. Many of the changes will directly impact the revenue cycle for hospitals and health systems. Revenue cycle leaders though, should take this shakeup as an opportunity to focus on their most essential skills and applying them in ways that guide their organizations in the near future.

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Accelerate Cash Flow by Creating a Unified Patient Financial Experience

By: Suzanne Lestina

Before patients even walk through your doors, they have expectations.

Those expectations cover everything from their treatment and recovery to what your facility should look like. One expectation that too often gets overlooked is how, exactly their financial experience with you will play out. Consider this — patients are conditioned from other industries to know their financial responsibilities up front (HFMA even advises them to be proactive in gathering this information). This means that if you want to foster a positive financial relationship and accelerate your cash flows, you must communicate in a timely manner with your patients.

"Financial Toxicity" a Real Risk for Cancer Patients

By: Mike Sowinski

Survey finds that financial stress can mean real barriers to care.

A recent survey offers support that the patient financial experience can have impacts that reach far beyond bills and payment plans.

Financial toxicity, the financial stress that out-of-pocket costs present to patients, affects patient wellbeing and can even contribute to an adverse event of treatment. Studies have also found that these costs can impact not only patient adherence to treatment regimens, but also increase mortality and affect the quality of life patients enjoy.

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