Hospitals Keep Up with Emerging Insurance Options

In the wake of the Affordable Care Act, more health insurance coverage options have been introduced, allowing patients to enjoy adequate healthcare services—provided that they meet eligibility requirements. As confusing as it is for patients to realize all the options before them, it can also be just as perplexing to the hospitals treating those very patients. With so many things to take note of, hospitals need a more versatile method of keeping track of the latest developments in covered healthcare, as well as manage their patients.

Although all hospitals are called to immediately attend to the needs of their patients, they still need to generate enough revenue to ensure that they continue to operate. Earning revenue through dispensing medicine is easier said than done, however, since patients have health insurance coverages paying for their treatments, which often convolutes the revenue cycle of hospitals. The bureaucratic procedures to facilitate the reimbursement, as well as actually confirming the eligibility of a patient for coverage, can be too much for hospitals to bear alone.

With more insurance options to be considered in the years to come, hospitals might want to streamline or enhance their revenue cycle to keep up. They should start with implementing systems that track patient eligibility, particularly patients registered under SSDI and Medicaid, which are closely related to the ACA. By focusing on eligibility, hospitals no longer have to worry about patients who appear seemingly unenrolled, which can hold back healthcare centers from their vital revenue.

 

 

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