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Showing posts with the label #rcm

Accepting Cryptocurrency as Payment from Patients for Provider Medical Bills

Bitcoin image by Petre Barlea from Pixabay Cryptocurrency (Crypto) is a popular dizzying array, for the most part, of non-government regulated currency. With wildly fluctuating values, crypto is gaining more adherents each day and uses for paying bills. While not yet every day in healthcare, providers have started to accept digital currency for medical bills.  The hospitals that are known to accept cryptocurrency can be primarily found in the medical tourism industry. Bitcoin, Ethereum, Cardano (ADA), Binance Coin (BNB), Tether, Solana, XRP, Dogecoin, Polkadot (DOT), and USD (USDC) are some of the more popular cryptocurrencies as outlined by SoFi Learn in “Understanding the Different Types of Cryptocurrency,” September 17, 2021.   CryptoSlate has compiled a list of 21 Healthcare Cryptocurrencies that you may wish to review, including performance along six dimensions. Ethereum image by WorldSpectrum from Pixabay. Now it is true that few counties have declared cryptocurrency t...

Lessons from the Field- the Hospital as an RCM Outsourced Enterprise -15 Benefits

Clarity image by Gerd Altmann from Pixabay Suppose there are some intuitive insights that have occurred during the SARS-CoV-2 pandemic for hospitals. In that case, it may very well be that to gain organizational efficiencies, increase cash flow, and provide a higher quality of patient care, experience, and engagement, that outsourcing will be required.    It is understood that one does not outsource every department in the hospital as some functions still need direct organizational control, such as nursing.  However, it has become increasingly apparent as healthcare 3.0 is further defined with digital healthcare, the decentralization of care to community-based sites, innovations in treatment, technology, and pharmaceuticals, the hospital or health system faces formidable challenges. Changes and reductions in reimbursement also have significant impacts are that can negatively impact cash flow and the ability to meet internal or external demands. While leadership understa...