According to the American Hospital Association, the United States’ 5,534 registered hospitals have:
- A total of 894,574 staffed beds
- More than 35 million admissions per year
- And more than $991 billion in annual expenses
Even small changes in a hospital administration’s business practices can have large-scale results in this industry. From billing to form management to payment processing, improvements in processes may result in greater efficiency, higher returns, and better relationships with patients and local communities.
InStream helps healthcare organizations streamline their processes and improve hospital/patient relationships through a variety of strategies. Take a look at three ways we help hospitals improve their business processes…
#1 Organize from the Start With Forms Management
Hospitals rely on many forms that are integral to their daily operations. From consent and release forms to informational brochures and discharge instructions, these documents may change frequently. In most cases, it’s absolutely critical that the latest versions are in circulation.
Without a centrally located form and document management system, it can be difficult to determine the most recent version of a document, resulting in multiple variations being used throughout the hospital.
With InStream’s form and document management system, hospitals can implement a structured solution that offers the following benefits:
- Formalized workflow process which enforces institution-defined protocols for the review and approval of changes to forms and documents
- Full audit trail of approvals, edits, and feedback of each form and document
- One centralized location for hospital employees to go to in order to retrieve the latest version of a document, ensuring all employees in all departments are always utilizing the newest version available
#2 Billing Made Easy With Intuitive Printing
InStream helps hospitals automatically generate, print, and send bills to patients at business-defined intervals. Following all security protocols and compliance regulations, InStream can automatically populate patients’ bills with the correct information, whether the patient is paying entirely out of pocket or simply covering the dollar amount beyond their insurance provider’s portion. The billing department just has to choose the appropriate template based on the patient’s account or healthcare services provided.
#3 Processing Checks With Virtual Lockbox
Once the patient receives the bill and submits the payment, InStream can handle the processing of the payment on your hospital’s behalf. With InStream’s virtual lockbox services, we make it easy for hospitals by processing and remotely depositing customer payments directly to your bank. InStream also provides you with a deposit file that can import directly to your hospital’s AP system, as well as copies of all checks and remittance advices, so you can maintain a full audit trail while simultaneously freeing up your internal workload.
Partner With InStream for Improved Efficiency
Are you ready to streamline your hospital’s business processes? Let us help you maximize the efficiency of your hospital’s current processes, or develop new systems to help your team accomplish more. Contact us to start the conversation!