HealthTech Solutions Group® Releases New White Paper— "Reducing the Cost to Collect" in its Revenue Cycle Basics Series for Health Care Providers

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HealthTech Solutions Group's latest white paper discusses how cloud-based workflow tools can reduce collection costs by up to 50 percent.

HealthTech Solutions Group White Paper

HealthTech's latest white paper, "Reducing the Cost to Collect"

With new options like cloud-based technology, there are opportunities to support better accounts receivables practices and reduce the cost to collect.

Healthcare revenue cycle solutions provider, HealthTech Solutions Group has issued a new white paper outlining the benefits of using cloud-based collections management applications versus traditional on-site software to improve collector workflow and reduce costs.

"We find that most health care facilities use inefficient workflow models and outdated systems within their central business office," said Derek Morkel, CEO of HealthTech Solutions Group. "With new options like cloud-based technology, there are opportunities to support better accounts receivables (AR) practices and reduce the cost to collect."

In the white paper, Morkel points out three principle areas that cause the greatest inefficiencies:

  • Lack of specialized talent to resolve difficult claims.
  • A staffing model that is hospital specific and staffed the entire year for the peak 3-4 months of claim activity.
  • A staffing model that is focused on using high-cost employees to compensate for their current patient accounting (PA) systems' inability to manage different types of claim activity.

"In this white paper, health care financial professionals can quickly identify where they should focus their efforts to gain control over their collections costs," said Morkel. "By using cloud-based collections management tools, like HealthTech's myCLAIMIQ AlphaCollector™, they can not only reduce collection expenses but improve employee workflow."

To download a copy of "Reducing the Cost to Collect," please visit http://www.ht-llc.com/print/Revenue-Cycle-Basics-pt.8-Reduce-Cost.pdf.

About HealthTech Solutions Group
HealthTech Solutions Group provides cloud-based revenue cycle software applications and accounts receivables services for hospitals and health care systems across the country. HealthTech Solutions Group offers its core Virtual Business Office software application, myCLAIMIQ AlphaCollector, and provides an a-la-carte suite of collections applications focused on collecting more cash, more efficiently. For more information or to request a demo, visit http://www.ht-llc.com.

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Karen Griffin

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