These days, value-based care is the buzz word in the healthcare industry. However, many providers are struggling to get on board. There are a number of obstacles that are responsible for this reticence to adopt value-based care. Could the options for payment processing healthcare practices are adopting be one of these obstacles? Here, we take a look at the reasons so many providers are still not on board with the latest changes.
Perhaps the biggest obstacle in the way of value-based care adoption is the number of small practices out there. Around 60 percent of providers are serving in practices that have less than 10 physicians. These small practices have fewer resources and less time to stay on top of patient quality measures and care gaps.
Complex Health Plan Value Contracts
Although health plan value contracts may offer guidelines on quality measures, they’re not very user-friendly. These complex and large documents are difficult to understand. Therefore, they are hard to apply with any consistency in practices.
Excessive Administrative Workloads
Providers aren’t able to free up staff from their other responsibilities. With phone calls to chase after payments and excessive invoicing paperwork, value-based care becomes impossible to deliver.
The Financial Incentive Isn’t Worth All the Effort
Financial and clinical quality information aren’t currently delivered together. This makes it harder for healthcare providers to grasp the true financial benefits that accompany best practices.
How Could the Right Payment Processing for Healthcare Organizations Help?
Choosing the right healthcare payment processing options can make a big difference in at least one of the above obstacles. Solutions, such as those offered by BillingTree, can free up administrative staff members and reduce their burdens.
The latest patient payment solutions can reduce the amount of paperwork front office staff members have to deal with. Automated payment plans and online payment options streamline processes exponentially. Traditional payment methods require staff to handle paper checks and process manual invoices. This becomes irrelevant with the most state-of-the-art technological advances. IVR systems and web portals are accessible to patients 24 hours a day, seven days a week. They can use their preferred cards or ACH payments to pay their bills. Electronic billing eliminates the need for paper invoices that people must print and mail. The ability to secure credit card details on file for later recall and automated invoice payment frees up staff time.
Employees are under a considerable burden in medical practices at the moment. Having to deal with difficult or distressed patients is challenging enough without adding chasing after nonpayers into the mix. When practices have eradicated the need to do this, they can function more effectively and in a more streamlined way. Front office staff can focus on providing outstanding patient care from end to end.
The Benefits for Patients
While the advantages for practices are clear, patients can benefit, too. These days, convenience is king. No patient enjoys paying his or her medical bills, so simplifying the process is key. These days, consumers are used to making real-time payments online. They want this functionality from their healthcare provider, too. Automated payment plans relieve the burden on overstressed patients with large outstanding balances. It’s one less thing to think about. For those with lower balances, the ability to pay through a web portal streamlines making payments. With no need to write out or mail a check, it’s easy to pay at a convenient time. BillingTree’s cutting-edge solutions for payment processing for healthcare organizations are the ideal answer. Making it easier than ever before to receive timely payments, BillingTree addresses some of the obstacles to adopting value-based care.