HFMA Webinar: "Creating a Patient Financial Profile Prior to Patient Arrival to Increase Up-Front Payments and Reduce Bad Debt"

Attend an HFMA Webinar to Learn More

As patients bear more responsibility for direct payment of their healthcare costs, there is an increased financial risk that hospital systems may not be fully compensated for services they provide.

Traditional revenue cycle management strategies typically triage this balance sheet issue mid-way through or after the patient encounter. Unfortunately, this approach limits the options available to providers to maximize payment and reimbursement.

In this session, Lakeland Healthcare will explore a new strategy for optimizing the financial health of provider organizations. Using a Patient Financial Profile System, providers can reduce their risk of denied claims, underpayments, bad debt and more easily identify and forecast charity care cases before the patient even receives medical treatment.

Providers will learn how to create a comprehensive Patient Financial Profile System using the following data points:
• Address verification
• Commercial insurance and managed care eligibility and benefits verification
• Patient financial responsibility estimation
• Credit Score
• Healthcare Risk Score
• Income
• Hospital Payment history
• Federal Poverty Guidelines

After this webinar you will:
• Understand how to create a Patient Financial Profile System for your organization
• Learn how to maximize revenue from claim reimbursements and patient payments

Using the Patient Financial Profile System, you will discover how to optimize your pre-admission workflow by creating three categories: Patient Payment, Charity Predicted and Medicaid Eligible.

Register now to attend an HFMA Webinar March 16th 3:00 to 4:30 pm EST to hear more about this topic! Lakeland HealthCare will share best practices and recommendations for using the Patient Financial Profile System.

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