Best Practices: Is Your Hospital’s Accounts Payable Program Still Working for You?
Share Hospitals are pouring a wealth of resources and time into transforming how care is delivered, and sometimes, the Accounts Payable department gets left out when it comes to innovation. A patient might receive a revolutionary new treatment or visit their doctor via telemedicine, while the very vendor who provides those services is still being cut a […]
Offering Long-Term Payment Plans to Meet the Financial Needs of Patients
Share As healthcare payment liability continues to shift to patients, it has become increasingly important for healthcare organizations to offer convenient and accessible patient payment options. Prior to COVID-19, the exponential growth of high deductible health plans along with rising consumerism drove the need for more flexible payment vehicles. While those drivers are still valid, […]
How to Improve the Patient Financial Experience and Revenue Cycle Process
Share Patient financial management is no longer just a post-encounter, back-office effort. Modern patient financial management demands providers engage and educate patients about cost expectations as well as payment and financing options. During a virtual roundtable discussion sponsored by CommerceHealthcare® as part of Becker’s 6th Annual Health IT + Revenue Cycle Conference, attendees discussed challenges and experiences with […]
Duplicate Discounts Under 340B Program
Share There are not that many core requirements within the 340B Statute. For being on its face, what appears a fairly “simple” program, it is instead turning into a mighty complicated program. One of two main requirements is “no duplicate discounts.” A Possible Solution for Preventing Duplicate Discounts under 340B Program There are not that many core requirements […]
Healthcare Finance Trends for 2023: A Mid-Year Update
Share In late 2022, CommerceHealthcare® published its annual look ahead and assessment of leading issues and opportunities influencing providers. Healthcare Finance Trends for 2023 — Multiple Intersecting Challenges (Trends Report) offered themes in four overarching categories: Financial Patient financial experience Digital transformation Building trust As a leading bank, Commerce Bank maintains active industry and economic surveillance to help […]
Referral Claims Capture
Share Capturing referral claims is no doubt an important step to take to optimize 340B savings in your program. Here, we will define what a referral claim is, and why a covered entity can and should be capturing many of these prescriptions, and how to capture referral claims. What is a referral prescription or claim? […]
A 340B Discount Card Program Can Lessen the Healthcare Burden on the Uninsured
Share Providing affordable prescription medications to the uninsured and those with high copays. Hospitals and community health centers, including FQHCs (all, 340B Covered Entities) participating in 340B are not-for-profit and are required to provide a community benefit. The mission of Covered Entities (CEs) participating in the 340B program is to provide healthcare services to everyone […]
The Impact of Provider Enrollment
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340B Pharmacy Gateways
Share Gateways (aka HUBs) have become more common and more intrinsic in the workflows and processes of 340B Contract Pharmacy programs. Over the past five years, gateways (aka HUBs) have become more common and more intrinsic in the workflows and processes of 340B Contract Pharmacy programs. As the number of contracted pharmacies continue to increase […]
What’s So Special About Specialty Pharmacy?
Share “What’s so special about specialty pharmacy?” is a phrase that is often used to describe this growing area of pharmacy. Let us help you further understand this complex area by reviewing the basics of specialty pharmacy and how it impacts 340B. First, what exactly is Specialty Pharmacy? Specialty pharmacy can be defined in many […]
