The term ‘Patient Access’ is
broadly used to define as barriers to healthcare as lack of insurance coverage.
High deductable health plans and financial limitations. However, these are
traditionally termed as front end operations of revenue cycle. Patient access
begins with the first point of contact that begins with initial encounter where
the staff confirms patient identity, verify insurance coverage provide
estimates of ordered services and more. Healthcare
industry is currently focusing on streamlining and improving the performance
of patient access as accuracy on the front end has proven to reduce bad debts
and denials after the patient is either in process or completed the treatment.
Technology is a key factor that allows visibility into insurance benefits and
other essential sources of information. Patient access solutions comprise web
based platforms that deals with electronic medical verification and claims
processing system. This system allows the healthcare providers to manage their
patient information, access the information in-house/remotely. This service
expands beyond traditional healthcare to home, dental, veterinary and
chiropractic industries. HealthCare
Industry Research Report reveals that the global
patient access solutions market is expected to grow at a CAGR of 7.7% for the period
2018-2022 and reaching approximately USD 2 Billion by the period end.
As patients engage first with
the healthcare system, easy access to all the key information is what he or she
looks forwards to. With introduction of healthcare reforms, rising patient bad
debt, patient access has become the first line of defense to proactively
provide patient access solutions and reach a healthcare bottom line. Health
Care Industry Analysis suggests that the Patient Access staff
is responsible for 80 cents of every dollar coming into a hospital facility.
The features and advantages to these solutions are innumerable. Appointments
can be scheduled into a single interface to improve workflows and enable
patient workflows. Patient access solutions allow patients to fill open
appointment slots by enabling patients to easily search for opportunities and
to self schedule. These solutions allow healthcare providers to move payment
cycle to the front of the revenue cycle. It allows patient to determine out of
pocket expenses by comparing cash prices with real time specific member
eligibility and other information. The goal is to holistically integrate
patient access within the revenue cycle for optimal performance and better
servicing the needs of the client. This includes human resources, education as
well as integration of scheduling within the billing cycle to create personalized
care for patients.
The patient access solution
market is dominant in the developed countries with high disposable income and
technological access. This industry has its roots in the US. Prominent players
in the patient access solutions market are The Advisory Board Company (US),
McKesson (US), Epic Systems (US), Cerner (US), Cognizant (US), Experian plc
(Ireland), Optum, Inc. (US), Conifer (US), Craneware, Inc. (UK), The 3M Company
(US), The SSI Group, LLC (US), ZirMed, Inc. (US), Cirius Group, Inc. (US), and
AccuReg Software (US). These services are not yet provided actively in India
but with recent technological upsurge, this might set its foot in the country
in the near future.
As technology further expands
to the other developing nations, this market shall see an overall increasing
growth rate, globally. The goal of Patient Access is to educate and support
individuals – patients, staff and providers – on their journey to deliver
comprehensive, quality health care services. Accessing quality care can yield
many benefits, including improved physical, social and mental health status
through prevention of disease and disability, detection and treatment of health
conditions, higher quality of life, preventable death and longer life
expectancy.
To
know more, click on the link below:
Related Report:
https://www.kenresearch.com/healthcare/general-healthcare/indonesia-healthcare-market/143541-91.html
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