This is an important analysis - Benefits Verification, Prior Auth, and payment transfers are a burden on a lot of practices, and often when we flip it to payors - they see upcoding/billing issues, and offering services without prior auth as some of the thorny points that extend the life of an episode/transaction. A lot of private practices also run on low to no profit margins - ACH transaction fees matter to them and add to that the problem of accounts receivables sitting at 60-90 days which means they often need to borrow money to cover monthly operational costs (a lot more prevalent in rural settings), this can make tech adoption a luxury for them. Would love to hear your perspectives on what policy changes/incentives can drive such an adoption.
This is an important analysis - Benefits Verification, Prior Auth, and payment transfers are a burden on a lot of practices, and often when we flip it to payors - they see upcoding/billing issues, and offering services without prior auth as some of the thorny points that extend the life of an episode/transaction. A lot of private practices also run on low to no profit margins - ACH transaction fees matter to them and add to that the problem of accounts receivables sitting at 60-90 days which means they often need to borrow money to cover monthly operational costs (a lot more prevalent in rural settings), this can make tech adoption a luxury for them. Would love to hear your perspectives on what policy changes/incentives can drive such an adoption.