Retaining More Revenue with Front-End Solutions

December 31, 2018

Patients financial liability in paying for healthcare services isalmost unrecognizable from that prior to the early 2000s, yet many organizations, including clinical laboratories, have struggled to modernize their collection practices in turn. As a result of this mismatch, labs risk not just losing out on uncollected revenue, but also wasting time and resources on futile or minimally effective back-end collection efforts. Reversing the problem is possible, however, by implementing the right best practices and revenue cycle management technologies. In particular, maximizing patient access early in the revenue cycle can
help patients manage their financial responsibility and preempt many unnecessary denials, payment delays, and uncollected balances.

Spotlight

Valley Medical Center

Valley Medical Center (VMC), also known as King County Public Hospital District No. 1, is located in Renton, WA. The Medical Center’s service area includes the communities of Renton, Kent, Tukwila, Covington, Maple Valley, Auburn, Newcastle and the surrounding environs. A 303-bed acute care hospital and clinic network, VMC is committed to providing safe, quality compassionate care and has done so for more than 63 years. Seattle magazine named VMC the #1 non-profit in the state for 2011, the Puget Sound Business Journal honored VMC as “Washington’s Best Workplace” for 2011 in the extra large company category, and for ten consecutive years VMC has been named a “Best Workplace” by regional publications. For the past four out of four years VMC has been named a “Best Place to Work in Healthcare” in the nation by Modern Healthcare magazine, including twice achieving a top 10 ranking. Valley Medical Center is a component entity of UW Medicine. For more information please visit valleymed.org.

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Spotlight

Valley Medical Center

Valley Medical Center (VMC), also known as King County Public Hospital District No. 1, is located in Renton, WA. The Medical Center’s service area includes the communities of Renton, Kent, Tukwila, Covington, Maple Valley, Auburn, Newcastle and the surrounding environs. A 303-bed acute care hospital and clinic network, VMC is committed to providing safe, quality compassionate care and has done so for more than 63 years. Seattle magazine named VMC the #1 non-profit in the state for 2011, the Puget Sound Business Journal honored VMC as “Washington’s Best Workplace” for 2011 in the extra large company category, and for ten consecutive years VMC has been named a “Best Workplace” by regional publications. For the past four out of four years VMC has been named a “Best Place to Work in Healthcare” in the nation by Modern Healthcare magazine, including twice achieving a top 10 ranking. Valley Medical Center is a component entity of UW Medicine. For more information please visit valleymed.org.

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