We are back from the HFMA’s bustling annual conference in Las Vegas. We are happy to report that many of the busiest organizations at the conference were RCM companies, including some of our partners, CarePayment, Convergent, HBCS and Sutherland Healthcare.
The latest competitive strategy: Walk a mile in someone’s shoes. In healthcare, that means understanding and mapping the patient journey.
Keeping up with changing disclosure mandates, privacy laws, security regulations and other compliance requirements for customer billing statements and letters is a real high-wire act for many organizations, especially in heavily regulated sectors such as healthcare, financial services and collections.
The death—or pending death--of paper communications has been greatly exaggerated, according to a recent study of more than 2,100 U.S. consumers. A rousing 90%, including 88% of those aged 18 to 24, believe they should have the right to choose how they receive communications, print or electronic, from financial organizations and service providers, according to a June 2017 surveyby independent research company Toluna for Two Sides, a group of forestry, paper and printing companies.
Whether it’s mortgage or car payments, medical bills or homeowner association fees, people are changing how they handle their bills. Here’s some important trends to know, based on research including the 2017 report How Americans Pay Their Bills, and what to do about them: