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There is still a significant amount of untapped revenue with upfront collections, say patient access leaders. By putting information on the patient's responsibility in the hands of registrars, Danbury Hospital now collects 95% of revenue due at the time of service, up from 50% in 2006.
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After implementing incentives in 2013, OSF Healthcare collected more than $30,000 in copays, up from $2900 in 2012.
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After price estimation technology was implemented at Ohio Health, collections increased from $12.8 million in FY 2013 to more than $19 million in FY 2013.
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Difficulty getting pricing info is challenge
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To excel at upfront collections, patient access need real-time insurance verification, patient risk scoring, and payment estimation tools, according to revenue cycle experts.
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Patient access leaders should explain to employees why collection is important to the hospital and instruct staff on how to correct mistakes.
