In the 1990s, health systems began tackling the game-changing implementation of technology such as hospital information systems (HIS) and the earliest electronic health records (EHRs) to automate administrative and business processes. In the early 2000s, they prepared for HIPAA regulations and developed strategies to reduce medical errors, again with the help of technology systems. Now, in 2015, our industry is addressing a host of new trends and demands. Most of these directly result from healthcare reform and the technology needed to meet its requirements, which is changing nearly every facet of healthcare delivery.
In this three-part series, we’ll look at three top trends and challenges faced by today’s healthcare leaders: patient collections, value-based reimbursement, and collaborative care. We’ll examine how these trends will be impacted by ICD-10 and vice-versa – and how you can proactively tackle associated challenges in a way that will propel you toward success.
Patient collections would likely be a provider concern even in the absence of healthcare reform; however, the passage of the Patient Protection and Affordable Care Act (PPACA) has certainly made it more challenging. Financial responsibility of patients is rising on all fronts and across all types of insurance plans. In fact, research has shown that 30 percent of a healthcare organization’s revenue now comes from patients versus insurers. According to the 2013 census, 15.5 million Americans have high-deductible health plans. The Kaiser Family Foundation indicates that the average deductible for all employer-sponsored health plans increased 47 percent from 2009 to 2014. The millions of newly insured Americans under the PPACA face high deductibles, too: the average deductible for an individual Bronze plan is nearly $5,200.