The PFX Voice

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

Hospital Revenue Cycle Training for Leaders Should Focus on 3 Skills

By: Mike Sowinski

Hospital revenue cycle training for executives should focus on understanding technology, developing a broad perspective as well as fostering collaboration and connectivity. 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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Learn How Patient Financial Experience Can Accelerate Cash Flow

By: Suzanne Lestina

Before patients even walk through your doors, they have expectations. This is why patient financial experience needs to be managed in a unified way starting with those very first interactions. 

Patient expectations cover everything from their treatment and recovery to what your facility should look like. But one expectation that too often gets overlooked is how, exactly their patient financial experience (PFX) 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 in Cancer Patients is Real Risk

By: Mike Sowinski

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

Financial toxicity in cancer patients is a real risk that can even have wide-ranging effects on the patient and their financial experience. A recent survey offers support that the patient financial experience can have impacts that reach far beyond bills and payment plans.

Financial toxicity in cancer patients, 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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