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Medical Bill

Half of the Patients With High-Deductible Health Plans Have Received Surprise Medical Bills

by Syed Hamza Sohail 01/27/2023 Leave a Comment

Medical Bills Continue to Plague Consumers as Source of Anxiety, Mystery and Frustration

What You Should Know: - AKASA™, the leading developer of AI for healthcare operations, released findings from a survey conducted on its behalf by YouGov. - The findings highlight how patients with high-deductible health plans (HDHPs) suffer the downstream effects of a complex medical billing process, including surprise medical bills, inaccuThe findings highlight how patients with high-deductible health plans (HDHPs) suffer the downstream effects of a complex medical billing process,
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43% of Consumers Spend Up To A Month Correcting Billing Errors

by Syed Hamza Sohail 01/16/2023 Leave a Comment

43% of Consumers Spend up to a Month Correcting Billing Errors

What You Should Know: - In the online survey administered to 800 U.S. consumers who had found at least one medical billing error in the last five years, 41% of the consumers are significantly frustrated trying to address billing errors.   - Zelis, a company modernizing the business of healthcare, announced findings from a new study on consumer billing conducted in partnership with Hanover Research, an independent research firm. The full results and insights are featured in the
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Payers Must Increasingly See The Consumer As The Customer

by Seth Cohen, President at Cedar 10/21/2022 Leave a Comment

Payers Must Increasingly See The Consumer As The Customer

Last year, the average annual premium for employer-sponsored family health coverage rose 4% to $22,221—including employer and worker contributions—according to the Kaiser Family Foundation. While employers are most often the ones selecting the health plan options and insurance for employees, the worker is the one who is left to navigate the healthcare continuum (including their true cost of care). In a recent study,  96% of patients indicated that the quality of their financial experience
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Cost Transparency Ecosystem in Healthcare

by Paul Ketchel, CEO of MDsave 09/23/2022 Leave a Comment

Transparency Ecosystem in Healthcare

Cost transparency is a driving force in the American market. Whether consumers are looking to purchase a latte, a plane ticket, or surgery, they increasingly expect to pay an “out-the-door” price– something that includes all labor and materials as well as the finished product or service. When polled, 66% of Americans indicated that they would shop for care if prices were publicly disclosed. And in pursuit of competitively and transparently priced services, some patients attempt to shop locally;
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Modernizing Medical Payments: Why Providers Must Enrich the Patient Financial Experience

by Fred Pennic 08/17/2022 Leave a Comment

Modernizing Medical Payments: Why Providers Must Enrich the Patient Financial Experience

Medical billing issues cause many consumers to shop for different providers. Customers expect a simple, automated billing experience. Insider Intelligence’s recent Spotlight on Modernizing Medical Payments looks at what drives consumers away from their medical providers, and what providers can do to modernize their billing processes. Incorrect or Confusing Bill Cause Patients to Leave Their Doctors According to a December 2021 report on Patient Payment Technology, 64% of respondents
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Breaking Down the Implications of New No Surprises Act Regulations

by Lynne Rinehimer, Esq, GRC Sales Engineer and Compliance SME for symplr 06/17/2022 Leave a Comment

Breaking Down the Implications of New No Surprises Act Regulations

The importance of the No Surprises Act (NSA) cannot be overstated, as surprise medical bills have long been burdensome for patients in the U.S. healthcare system. In fact, more than half of all U.S. consumers have received an unexpectedly large medical bills.  The purpose of the No Surprises Act is to prevent surprise out-of-network bills, often for emergency services. For example, if your appendix bursts while at work, you would be rushed to the nearest hospital for an emergency
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The No Surprises Act: How Payers Can Stay Compliant

by Michael Gardner, Chief Strategy Officer at Virsys12 06/13/2022 Leave a Comment

The No Surprises Act: How Payers Can Stay Compliant

As the healthcare system continues to evolve to adopt a more patient-centric approach, surprise billing has become a topic discussed by consumers and policymakers. Surprise billing can occur when a patient unknowingly receives care from providers that are outside their network. This can result in balance billing, the practice of billing a patient the difference between what their health plan covers and what the provider charges. Unfortunately, these bills are often the result of care provided in
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Cerner & AKASA Partner on AI-Powered Revenue Cycle Automation

by Fred Pennic 05/05/2022 Leave a Comment

AKASA Raises $60M to Automate Revenue Cycle Operations for Health Systems

What You Should Know: - Health IT leader Cerner and AI developer for healthcare operations AKASA announce a partnership to scale automation within the revenue cycle at hospitals and health systems using AI and machine learning. - The collaboration offers Cerner customers access to AKASA’s AI-based Unified Automation® platform which is purpose-built for healthcare. Growing Need for Revenue Cycle Automation Staff shortages are particularly concerning for healthcare revenue cycle
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Waystar Launches Price Transparency Solutions to Meet Consumer Demand

by Jasmine Pennic 03/08/2021 Leave a Comment

Waystar Launches New Text Patient Statements and Offers Price Transparency Solutions to Meet Consumer Demand

What You Should Know:  - Waystar, a provider of healthcare payments software, today announced the addition of the Text Statements feature to its suite of payment tools. This new solution enables patients to easily view and pay medical bills directly from their smartphone, bringing transparency and convenience to the patient financial experience – a long-standing focus for Waystar. - Patients frequently don’t know what they’ll owe weeks, if not months after the point of care, If
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Report: Poor Digital Experiences Are Driving Consumers to Switch Providers

by Fred Pennic 10/09/2019 Leave a Comment

Report: Poor Digital Experiences Are Driving Consumers to Switch Providers

- Consumer frustration is driving more than 2 in 5 U.S. people to consider switching their providers over the lack of digital engagement.- Outdated provider billing processes and a lack of digital payment options & plans are major contributing factors to late/missed payments, and the overall digital transformation of healthcare administration has been a major sore spot within U.S. healthcar- Younger healthcare consumers are significantly more frustrated, more likely to stop seeing providers
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