Perspectives on AI, Denial Prevention, Revenue Cycle | Sift Healthcare
Sift Perspectives
Every Revenue Cycle Improvement Matters
Improving the revenue cycle means minimizing costs and increasing collections, from both patients and payers. Even on a small scale, artificial intelligence has a meaningful impact on healthcare payments and operations.
4 Innovative Strategies For Patient Payments
When healthcare providers leverage their patient payments data to drive their collections strategies, they create new and powerful opportunities to increase the revenue they collect, building patient relationships and using payments data to inform business operations.
Rural & Community Hospitals Need AI The Most
Unpaid patient medical bills are a growing problem for community hospitals and a downright crippling problem for rural hospitals. These healthcare providers can’t afford not to optimize their revenue cycle, improve their understanding of patient payment behavior and implement collection strategies.
High Dollar Denials Are Often The Least Likely To Be Paid.
Healthcare providers face an uphill battle when it comes to claim denials. Their denials management strategy should be to prioritize the denials that are most likely to be overturned (paid).
3 Healthcare Payments Processes That Are Still Manual
The healthcare payments market is in desperate need of approaches and innovations that reduce manual intensive processes — and save money.
Surprise Medical Bills Are Bad For Healthcare Providers
Patient payments are often difficult for healthcare providers. Even more so when the expense is unexpected, as in surprise billing.
Self-Pay Patients & Regulation Around Medical Billing
Healthcare providers must understand federal regulations that apply to payments from self pay-patients, specifically the Fair Debt Collection Practices Act (FDCPA).
Your Data Is Too Messy For Data Science
In healthcare payments, where data flows from multiple systems and standards are a moving target, data can be pretty filthy. This means mismatched formats, errors and inconsistencies.
Stop Using Credit Scores For Propensity To Pay
Consumer debt on credit reports is not an indicator of a patient's ability or willingness to pay their healthcare bills. Most propensity to pay models rely on credit scores.
Is Your Patient Payment Targeting Legal?
As the volume of patient payments increases, many healthcare providers unknowingly violate regulation around patient targeting (like ECOA).