Survey: Hospitals saw 10% increase in self-pay dollars in past 5 years

http://www.beckershospitalreview.com/finance/survey-hospitals-saw-10-increase-in-self-pay-dollars-during-past-5-years.html

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With the rising popularity of high-deductible health plans, hospital and health system executives know they must find effective ways of communicating with patients about their financial responsibility and develop strategies to ensure proper payment. Many executives have made strides in these areas, but there is still room for improvement, according to a Healthcare Financial Management Association survey sponsored by Parallon.

HFMA researchers surveyed 117 senior finance executives and revenue cycle leaders to examine their organizations’ self-pay processes and patient financial engagement efforts.

Here are six survey findings:

Senior finance executives name their top 10 RCM initiatives

http://www.beckershospitalreview.com/finance/senior-finance-executives-name-their-top-10-rcm-initiatives.html

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To optimize revenue cycle workflows, senior healthcare finance executives are more likely to implement updated IT and hire additional staff than contract with outside consulting services, according to a recent survey by Connance.

Connance, in conjunction with Porter Research, surveyed 93 senior finance executives in an 11-question online survey regarding their organizations’ revenue cycle improvement priorities. Respondents completed the questionnaire in July.

Below are six survey findings.