Practice Management
This month, Banner Health is moving to a cashless payment system as a cost-savings measure, according to a press release. The nonprofit system has rolled out the cashless model across Arizona and will phase in the policy across other locations (California, Colorado, Nebraska, Nevada, and Wyoming ) in the coming months with a target date to complete the transition by March 2026. Cash collection creates administrative costs that represent more than a third of the …
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While it may take patients a little time to get used to the idea, prepayment and credit card holds are becoming more and common among urgent care operators who are tired of chasing down payment from patients who’ve already received care—or having to write off charges altogether. Revenue cycle management leaders like Practice Velocity actively promote the concept to their partners. As with anything new (especially anything new involving money), some patients object to the …
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