A TransUnion Healthcare survey of healthcare executives found that hospitals and health systems across the country see point-of-service (POS) technology as a key tool for managing patient payment challenges threatening their bottom lines.
Ninety-three percent of executives participating in the survey said their institutions are either using POS technologies or have plans to invest in them. Most executives surveyed believe increased insight into patient payment ability would have a positive impact on patient payment rates (67%) and collection costs (62%).
“Hospitals are facing revenue cycle management challenges that will only get more difficult as health reform progresses,” said Milton Silva-Craig, executive vice president of TransUnion Healthcare. “Hospital executives recognize that they can’t get ahead of their financial challenges without getting in front of the revenue cycle, and they realize that point-of-service technologies must be part of the solution.”
Source: TransUnion Press Release