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The Impact of Falling Interest Rates and Lower Inflation on Your Behavioral Health Practice

Valant

Potential for More Out-of-Pocket Spending: As economic pressures ease, patients might be more willing to spend more on mental health services, potentially increasing revenue. Focus on Patient Experience : With potentially increased competition, ensuring high-quality patient experiences will be crucial.

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Understand your Revenue Cycle to set your medical practice for success 

Health Prime

The revenue cycle is a complex and multifaceted system that involves various stakeholders, including healthcare providers, payers (insurance companies), and patients. Comprehensive patient registration Ensuring accurate and thorough patient registration is the first crucial step in the revenue cycle.

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5 benefits of having a patient portal for your practice 

Health Prime

Moreover, patient portals adhere to stringent security and privacy standards, promoting compliance with regulations like the Health Insurance Portability and Accountability Act (HIPAA). Read more about strategies to optimize patient collections in our whitepaper How to Improve your Patient Collections Process.

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7 key components to improve your patient collections 

Health Prime

This process starts before the patient is checked in. Establish a robust system that verifies insurance information before the appointment. Remember to inform patients ahead of time of their benefits so they understand what they are paying for. Clear and concise statements are essential for effective communication.

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