Healthcare Finance Series: The Proactive Practice- Part I
In 2020 and beyond, healthcare providers must become proactive and look to modernize their revenue cycle systems to prioritize patient care and drive business. Far too often, medical practices are not aware of any cash flow deficiencies until money starts drying out. Understanding the financial relationship and modern solutions between providers, payers, and patients is essential in taking the challenges out of healthcare financing. The time is now to become proactive and integrate with modern technologies to revamp your collections strategy and reap the benefits of a thriving business.
The first step in becoming a proactive practice is recognizing a financial problem(s).
This starts with predicting and developing the foresight to anticipate potential issues. Is your practice aware of technological advancements or financial constraints such as a lack of funding or patient payment difficulty? Once addressed, create a plan to prevent the current and future financial headaches from happening. Look to produce a future proof enterprise and ask what your practice can do today to ensure success tomorrow? But to truly be proactive, effective action must take place.
Creating a proactive revenue cycle is easier said than done, but fortunately, healthcare providers now have an easy solution with Aquina. Aquina Health helps medical professionals nationwide grow their businesses by providing working capital, accelerating claims payments, and creating patient financial flexibility to accelerate payments and normalize cash flows. Through the use of integrated technology, Aquina is empowering healthcare providers and removing the financial burdens with an easy and automated process.
Proactive practice creates a seamless and affective financial relationship between patients, payers, and providers.
Through Aquina’s technological tools: Via, Praxis, and Curae, healthcare providers, administrators, and revenue cycle managers can benefit from a smooth and stress-free experience. The proactive practice creates a seamless and affective financial relationship between themselves (provider), the payor, and the patient. Aquina makes this possible.
Provider: Funding needed for medical practices to grow. Praxis provides the working capital you as the provider need to achieve your business goals with repayment terms unlike anything in the industry.
Payer: Get paid immediately when submitting claims. Via allows you, the provider to see patients today without the worry of not getting paid tomorrow.
Patient: Financing your patients, so you don’t have to. Curae solves your patient’s problem of high out-of-pocket expenses and provides non-recourse funds exclusive to top U.S. health systems.
Aquina believes the revenue cycle model in healthcare is fundamentally broken but has the solutions for providers large or small. Becoming a proactive practice is attainable and the tools to create value-based care, with customers at the center of the healthcare experience exist. To learn more or take the first step in becoming a more proactive healthcare provider please visit Aquina Health.