MailMyStatements Blog

The recent shift to greater patient financial responsibility in the healthcare industry is amplifying collection issues for many organizations. Current revenue cycle processes are geared toward government and commercial payer collections. However, the growing patient fiscal responsibility is spearheading  industry initiatives  aimed at patient satisfaction and individual collections. Although research indicates that more than half of modern patients prefer to go paperless ( eStatements ) when it comes to their healthcare bills, most organizations still send paper statements. If medical practices want to increase their receivables and profits, they must adjust to focus on patient collections, which now account for more than  30 percent  of overall revenue in the industry. Patient Convenience Healthcare organizations have massive incentives for going paperless, one of those being greater  patient satisfaction . Increasing premiums and deductibles mean that patients are demanding a higher

Healthcare data is some of the most prized, valuable, and unperishable. The highly personal nature of healthcare data includes information such as Social Security numbers, birthdates, addresses, diagnosis codes, billing information and more. Thieves around the world covet this highly sensitive data for more than just identity theft, which is highly lucrative. They buy and resell drugs and medical equipment and even file false claims with insurers to rake in millions. Stolen healthcare credentials fetch up to  20 times more  than a stolen credit card on the black market. Hospitals and healthcare organizations are frequently targeted because of their low or outdated security. The number of cyberattacks on the healthcare industry has more than  doubled  over the last decade. In fact, here are a few  alarming statistics  regarding cybersecurity in the healthcare industry: 89% of healthcare providers have suffered data breaches in the past two years. 41% of Americans have had their