How Self-Pay Balances Are Threatening Your Revenue Stream

14M11D21 SKW How-Self-Pay-Balances-Are-Threatening-Your-Revenue-Stream

CardioSource WorldNews

Both employer- and individual-sponsored health insurance plans are mitigating the rising healthcare costs by passing them on to consumers, which is making patients more financially responsible for their healthcare utilization than ever before. As a result, cardiology practices will now need to actively collect self-pay dollars from patients to maintain the same cash flow. The inability to do this can quickly eat into an organization’s bottom line, turning a profitable physician group into one that is operating in the red. This column discusses the changing payer landscape and offers management strategies for self-pay receivables to help cardiology practices protect their revenue streams.

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