![]() And if you screw your key suppliers today, they’ll remember for a long time after the recession ends. ![]() You will have a hard time responding to these surges if you are not a preferred customer. An adaptive supply chain can efficiently respond to unexpected surges in demand. Finance may do this without informing supply chain managers, but this works against the mantra of establishing an adaptive, demand-driven supply chain. The most obvious action is to lengthen payment terms with key suppliers. What can your supply chain team do to improve cash flow? What processes and technologies can help? To find out if Curae™ is right for your organization or to learn more about Curae™, contact us here.In a recession, cash is king. Partner with Curae™ to help with your RCM financial challenges. Get back to what matters most in healthcare….” taking care of patients.” Simple: The paper-less process takes less than 2 minutes and does not impact your credit score.įlexible: Customized solutions to meet your RCM objectives.Įfficient: Instantly process a transaction and get funds with 24-48 hours with no recourse.Īddress the challenges of collecting self-pay responsibility by utilizing Curae™ and create an ideal patient-centric financial experience that is right for your organization. ![]() With a significant increase in accounts that are “paid-in-full” through Curae™, health systems are finding balance with increasing patient responsibility challenges.Ĭonsider leveraging Curae™ to help patients meet their out-of-pocket expenses and increase cash flow with our simple, flexible, and efficient solution? Health systems are now able to offer a unique patient-friendly financing solution tailored to meet their revenue cycle objectives that can reduce accounts receivable, bad debt, and the cost of collection. So how are health systems able to satisfy the patient while still increasing cash flow and staying financially stable? It starts with Curae™.īy leveraging the flexibility of Curae’s propriety technology platform, healthcare providers are provided with non-recourse funding within 24-48 hours. Just as consumers have become accustomed to online retail-like shopping convenience, they are looking for healthcare financial convenience. Patients are not only seeking quality care but also a streamlined financial experience. Patients are increasingly looking for price transparency, estimates and the availability of payment options. In the age of healthcare consumerism, cost, quality, and convenience are key metrics that drive patient satisfaction resulting in improved financial performance. Most healthcare organizations have RCM technology to identify patients that may qualify for financial assistance, but they still lack a patient payment solution in place to improve cash, recognize revenue and reduce accounts receivable without adding default risk. Additionally, many patients who have received an emergency procedure could most likely be facing a challenging financial situation. Many patients, however, cannot afford to pay the up-front out-of-pocket expenses for themselves or their families. ![]() Up-Front cash collection strategies offer many benefits such as reducing accounts receivable, reducing billing and back-end collection costs, decreasing administrative burdens of tracking bad debt, and increasing cash flow. Industry experts suggest that greater payment options within healthcare organizations lead to a positive payment outcome and an increase in cash flow. The reality is, consumers today are much more empowered and informed and expect a seamless consumer experience, where electronic payments can be made easily in the comfort of their home from a computer or mobile device. How Health Systems can use Technology to Increase Cash FlowĪs deductibles and coinsurance amounts continue to rise, so has uncollected patient financial responsibility, leading to a significant increase in accounts placed in Bad Debt and ultimately the decrease in cash and an increase in AR days.
0 Comments
Leave a Reply. |