Healthcare Connection – March 21, 2017
Benchmarking Report – Revenue Recognition and HDHPs: The Greater the Patient Portion, the Lower the Collections
Over the course of the past two years, the increase in high-deductible health plans has been dramatic, and the self-pay collections on these plans also have been dramatically … lower. The percentage of collections from patients with balances greater than $5,000 are four times lower than collections from low-deductible plan patients. The new revenue recognition guidance focuses on recording revenue at the amount the entity expects to be entitled. Read the full Crowe RCA benchmarking quarterly report for additional analyses.
Four Strategies for Handling the Increase in Patient Responsibility
Since the Affordable Care Act (ACA) was signed into law, several provisions of the act have led to a rise in uncompensated care and an increase in patient responsibility. Hospitals’ revenue cycles have been significantly affected by several changes resulting from the ACA, including increased access to healthcare coverage and a rise in high-deductible health plans. While the impacts of the ACA are unavoidable, organizations can take steps to mitigate financial risks caused by the increase in patient responsibility. In this article, learn more about four revenue cycle operational strategies for handling the increase in patient responsibility.