Patient financial services represent the financial center of a healthcare organization. These functions include AR follow up, denials management, collections, revenue cycle consulting, extended business office, credit balance collections and charge capture. All of these activities impact financial health. Learn more about Patient Financial Services by visiting http://www.pyramidhs.com/.

1. Patient Financial Services
How to Maximize Cash Collections

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 Patient financial services represent the
financial center of healthcare
organizations
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A  Functions include: AR follow up, denials
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management, collection, revenue cycle
consulting, extended business
office, credit balance collections and
charge capture
 Therefore organizations should efficiently
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T manage and carefully analyze patient
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financial services to optimize cash
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collections

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The Nature of Patient Financial Services
 Functions performed under patient
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financial services are complex project
 Process span across different departments
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A
B
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E and contain repetitive tasks making errors
more likely to happen
 When errors happen, payments are
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delayed
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 Collections present biggest
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challenges, diagnosis codes and patient
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data may be incorrect

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Data and Documents
 Hospitals need to be concerned with all
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facets concerning patient financial services
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 Data captured must me accurate throughout
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the process
 Revenue cycle documents must be managed
correctly
 By expertly managing the
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process, hospitals and healthcare
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organizations can improve revenue cycle
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Data and Documents
 Revenue cycle consultants provide
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expertise to implement best practices and
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A manage process-intensive functions
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E  They identify risk and opportunities to
speed reimbursements and maximize
collections
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 Implementing best practices can reduce
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appropriate reimbursements
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The Focus on Patient Financial Services
 According to Healthcare Financial Management
Association’s (HFMA) recent
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conference, attendees highlighted reducing
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uncompensated care and bad debt, maximizing
E reimbursements and increasing patient
collections as prime issues
 Pyramid Healthcare Solutions is the leading
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Health Information Management and Revenue
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Cycle Management Services that you can
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financial services designed to maximize cash
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About the Author
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Nav Ranajee is VP of Sales and Marketing
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for Pyramid Health Solutions, a provider of
complete revenue cycle services.
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Learn more about Patient Financial
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Services by visiting
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http://www.pyramidhs.com/.
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8. THANK YOU
STRONG STABLE STRATEGIC
Trusted Revenue Cycle Partner Since 1985
800.927.8435
Email: info@pyramidhs.com Website: www.pyramidhs.com