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10 Tips for Patients and Healthcare Practices to Reduce the Costly Impact of Deductible Season

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Inbox Health data finds 50% of practices bill their highest amount of patient accounts receivable in the first quarter.

NEW HAVEN, Conn., Nov. 12, 2024 /PRNewswire-PRWeb/ — A recent analysis by Inbox Health, the industry’s leading solution dedicated to patient billing, payments and collections, indicates that 50% of healthcare practices bill the highest dollar amount of their patients’ total annual accounts receivable in the first quarter of the year, with a startling 32% peaking in March alone.

“Both patients and practices feel the biggest impact in the first quarter of the year – what we like to refer to as deductible season. This places enormous stress not only on patients, but also on healthcare providers who are troubled by delayed or missed payments.” Blake Walker, CEO of Inbox Health

According to Blake Walker, CEO of Inbox Health, “This statistic clearly delineates the staggering payment responsibility placed on patients by the modern structure of high-deductible healthcare plans (HDHP). As Inbox Health data shows, both patients and practices feel the biggest impact in the first quarter of the year – what we like to refer to as deductible season. This places enormous stress not only on patients, but also on healthcare providers who are troubled by delayed or missed payments.”

There are steps patients and practices can take to reduce the pain of deductible season, get bills paid, and ensure a healthy relationship between patients and their providers.

The Rise of the HDHP

High-deductible healthcare plan enrollment is up 35% in the last decade1 with over 51% of private industry workers participating in such a plan2. For practices, this shift has made patient billing revenue a larger portion of overall practice revenue. Patients feel the burden more in January, February and March, before their deductible is met and insurance kicks in. It’s not uncommon for patients to delay paying medical bills due to financial limitations – about half of adults say they can’t afford healthcare costs – or confusion related to what they owe.

What Can Be Done – Tips for Patients

The burden of deductible season is alleviated when patients and practices work together. Here are steps a patient can take:

Don’t let time slip away from you. Complete as many tests, procedures and visits as possible prior to the end of the year before the new deductible takes effect.Begin early. Set aside money to pay insurance deductibles.Be proactive. Prior to January, check with your insurance to determine what your family and individual deductibles will be so there are no surprises.Come to your first medical visit prepared to pay for services or to set up a payment plan with your provider.If you are having difficulty understanding or paying your bills, communicate with your provider and discuss options.

What Can Be Done – Tips for Practices

For practices, navigating the complexities of deductible season requires pre-planning, focused training, and appropriate technology. These actions provide a patient-friendly environment and cement a cooperative relationship between the provider and the patient.

Check for insurance eligibility and benefits before a patient visit so you can accurately communicate anticipated costs.Collect payments or set up payment plans at the time of the visit to eliminate confusion after service.Make payment convenient and transparent by offering multiple payment options (credit card, digital wallet, phone payment or paper checks) and empowering patients to set up a payment plan.Make patient statements easy to understand by clearly showing the cost of service, insurance coverage, and what the patient owes.Offer your patients a variety of clear and immediate support channels (phone, chat, email, text).

In few relationships is it truer to say, “We’re in it together,” than between a patient and their healthcare provider. This encompasses both the plan of care and coping with the challenges of insurance deductibles. Understanding and compassion are essential, but even more important is planning and preparation. For both patients and practitioners, these 10 steps can help.

Healthcare practices can learn more by downloading a guide to managing deductible season, attending a webinar, or requesting a free deductible season readiness audit to assess risk.

About Inbox Health

Inbox Health directly addresses one of the fastest-growing problems in healthcare—the challenge of patient A/R. Built for healthcare revenue cycle leaders, Inbox Health automates patient billing and patient payments and modernizes the patient support experience. Inbox Health improves patient engagement by providing clear medical bills immediately after service, choice of payment methods and communication channels, and fast, empathetic support through the phone and live chat. By improving the patient experience, practices see an increase in profitability, cash flow, and collection speeds. With Inbox Health, customers report a 60% increase in collection speeds in the first 60 days. Inbox Health provides an automated, streamlined platform that increases revenue, saves time, and reduces costs. Inbox Health currently serves over 3,000 healthcare practices and more than 2 million patients a year. Headquartered in New Haven, Conn., Inbox Health was recently named to the Inc. 5000 list of fastest-growing private companies in America. More information can be found at www.inboxhealth.com.

1 KFF, Oct 2024, 2024 Employer Health Benefits Survey

2 BLS, April 2024

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Media Contact

Deborah Jones, Inbox Health, 1 714-656-0139, deborah@strategiesadpr.com, InboxHealth.com

View original content to download multimedia:https://www.prweb.com/releases/10-tips-for-patients-and-healthcare-practices-to-reduce-the-costly-impact-of-deductible-season-302298426.html

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Leading Business Events Management Company, PRA Acquires Island Style Innovations in Hawai’i

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November 25, 2024

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CHICAGO, Nov. 25, 2024 /PRNewswire/ — PRA, a leader in the Business Events industry, announced today the company has acquired Island Style Innovations, local destination management experts in the exclusive Hawaiian market. This move marks the second acquisition in the last 18 months in this important meeting, convention, and incentive program market, delivering continued growth and execution of PRA’s overall expansion strategy. The Island Style Innovations team will join the PRA Hawai’i office, under the leadership of Debbie Weil-Manuma, and rebrand as PRA, integrating with the current team.

Founded in 2014 by Tatiana von Oelhoffen and Colleen Reyes, Island Style Innovations is one of the leading events and incentive management teams operating across the Hawaiian Islands. With decades of combined event management experience, extensive local knowledge and strong operational excellence, the team specializes in comprehensive event design and execution. With well-established strategic relationships with many leading hotel brands, event venues, suppliers and business partners throughout the region, Island Style Innovations excels at delivering the highest quality meetings and events with a keen focus on local, authentic experiences. The company’s clientele spans programs for the insurance, financial, pharmaceutical, and technology sectors, along with diverse corporate clients.

Laurie Knapp, Chief Growth Officer of PRA, stated, “We welcome the incredible Island Style Innovations team to the PRA family who share our passion for creating once-in-a-lifetime experiences for valued clients. This continued expansion of our PRA Hawai’i team in this key destination emphasizes PRA’s steadfast commitment to deliver innovative event concepts through the industry’s most talented event designers and operators. Now working in conjunction with PRA’s industry leading creative, production, and global sales organization, the team will be able to deliver enhanced solutions in this important market.” 

The acquisition of Island Style Innovations along with the previous Weil & Associates Hawai’i purchase in 2023, marks a key step in the execution of PRA’s strategic growth plan.

“We are excited to have the Island Style Innovations team join PRA Hawai’i in this thriving market for events, enhancing our standing as the premier business events management company in the islands,” added Weil-Manuma. “Tatiana, Colleen, and the team have so much to be proud of in their creation of this successful business and we look forward to building our exciting next chapter together.”

“When it was time to consider the future for Island Style Innovations, we knew we wanted to collaborate with a group that aligned with our values and dedication to the personalized service our clients have come to expect over the years,” shared Reyes. “I couldn’t be prouder of what our team has achieved, yet this is just the beginning. And, while Tatiana will be heading off to new pursuits, the team will remain in place, and we look forward to working alongside the outstanding group at PRA Hawai’i. With increased resources and access to a robust network of destination experts nationwide, we are eager to see what the future brings. I extend my gratitude to Tatiana for all her significant contributions to the success of our Hawai’i team through her leadership and valued partnership over the years.”  

PRA (pra.com)
Headquartered in Chicago with teams throughout every major and secondary market in North America, PRA is a leading business event management firm, creating experiences which move hearts, minds, and businesses forward. Through its strategic approach to creative design, production services and destination programs, PRA offers end-to-end integrated service capabilities and solutions aligned with business meetings and events. PRA blends Passion, Reach and Authenticity to consistently deliver incomparable experiences that engage participants and exceed business goals. PRA’s reach runs deep, delivering value to millions of participants for 40 years in every major destination and beyond. For information on our complete portfolio of services, please visit pra.com.

PRA is majority owned by investment funds managed by EagleTree Capital.

About EagleTree Capital: 
EagleTree Capital is a leading New York-based middle-market private equity firm, with $5.3 billion of assets under management, that has completed 45 private equity investments and over 100 add-on transactions over the past 20+ years. EagleTree primarily invests in North America in the following sectors: business services, consumer, and water and specialty industrial. For more information, visit www.eagletree.com or find EagleTree on LinkedIn. 

Media Contact:  Laurie Knapp
Laurie.Knapp@PRA.com
M: +1.312.623.3713

View original content to download multimedia:https://www.prnewswire.com/news-releases/leading-business-events-management-company-pra-acquires-island-style-innovations-in-hawaii-302315087.html

SOURCE PRA

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Michael Baker International Increases Geographic Reach with Fayetteville, Arkansas, Office

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19 minutes ago

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November 25, 2024

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Firm’s third Arkansas location opens in rapidly growing market

PITTSBURGH, Nov. 25, 2024 /PRNewswire/ — Michael Baker International, a global leader in engineering, planning and consulting services, today announced the opening of the firm’s Fayetteville, Arkansas, office.  The office is the firm’s third Arkansas location, joining outposts in Little Rock and Bentonville, and will serve as an extension of Bentonville operations, which has exceeded its existing office capacity due to the high demand for the firm’s urban roadway design and construction inspection services in Northwest Arkansas. The office will be led by Mike Stengel, P.E., Office Executive for Michael Baker’s Bentonville location.

“We are thrilled to expand Michael Baker’s footprint in the fast-growing Northwest Arkansas region. This new location will allow us to better serve statewide clients and accelerate growth in Arkansas,” said Tommy Montgomery, P.E., Southern Regional Director at Michael Baker International. “In opening our third Arkansas office, Michael Baker is reaffirming our commitment to our local clients and community. We look forward to continuing to Make a Difference in Arkansas and beyond.”

The new Fayetteville location enables Michael Baker to better serve the firm’s clients and provides an additional gateway for delivering its full spectrum of services to the Arkansas Department of Transportation (ARDOT) and other public and private clients, including major universities and retailers in the region. Additionally, the new office’s prominent location in a high-traffic area will enhance the firm’s engagement with clients and elevate its visibility as it continues to expand.

Michael Baker was recently named as one of the 2024 Best Places to Work in Arkansas by Arkansas Business Magazine. The new Fayetteville location will accommodate the firm’s growing workforce and provide room for ongoing expansion.

About Michael Baker International
Michael Baker International is a leading provider of engineering and consulting services spanning five distinct Verticals: Infrastructure, Design-Build Services, Federal Programs and Services, Consulting and Technology Solutions (CTS) and Sustainable and Resilient Solutions (SRS). The firm’s Practices encompass all facets of infrastructure, including design and civil engineering for diverse bridge, highway, water, rail and transit and aviation projects, as well as planning, architecture, environmental and construction and program management. For more than 80 years, the company has been a trusted partner to clients, providing comprehensive services and solutions, delivering expertise and quality, and embracing emerging technologies and the latest innovations – like intelligent transportation, engineered models and public safety software as a service (SaaS).

The company has more than 4,900 employees across more than 90 office locations. Michael Baker’s Wolf Pack is committed to Making a Difference for clients and communities through a culture of innovation, collaboration and technological advancement while evolving its business to become a full-service engineering and consulting firm.

To learn more, visit https://mbakerintl.com/.

Contact: Julia Covelli
julia.covelli@mbakerintl.com
(866) 293-4609

View original content to download multimedia:https://www.prnewswire.com/news-releases/michael-baker-international-increases-geographic-reach-with-fayetteville-arkansas-office-302315507.html

SOURCE Michael Baker International

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ERIN Launches ‘Sloths for Sloths’ to Fill CEO’s Office with Holiday Toys for Pittsburgh’s Underprivileged Youth

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19 minutes ago

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November 25, 2024

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Employee referral software platform ERIN has announced ‘Sloths for Sloths’ — a holiday toy drive hosted in collaboration with Hall of Fame running back Jerome “The Bus” Bettis.

PITTSBURGH, Nov. 25, 2024 /PRNewswire-PRWeb/ — Pittsburgh-based employee referral software platform ERIN is getting into the holiday spirit with the launch of Sloths for Sloths — a holiday toy drive hosted in collaboration with Hall of Fame running back Jerome “The Bus” Bettis. Through an Amazon storefront set up specifically for this purpose, the ERIN team hopes to fill CEO Mike Stafiej’s office with toys for kids of all ages.

“There are two things that people will always support — giving toys to children for the holidays, and Jerome “The Bus” Bettis. At ERIN, we’re supporting a holiday toy drive with The Bus, and trying to fill a bus with toys.” – ERIN CEO Mike Stafiej

“ERIN’s notorious symbol is Sammy the Sloth, so we’ve aptly named this effort after our company’s kid-friendly mascot,” said Stafiej. “It’s our hope that every single underprivileged child in Pittsburgh will be greeted on Christmas morning with a toy that brightens their holiday. We’re proud to be taking initiative on their behalf, and hope for great success so we can continue this new tradition for years to come.”

Since 1997, Bettis and his The Bus Stops Here Foundation have been supporting Pittsburgh’s underprivileged inner-city youth through education, sports, technology and recreational opportunities. ERIN is proud to partner with such a valuable organization this holiday season to bring joy to the city’s youth.

Here’s how the program works:

Order a toy from the company’s Amazon storefront, or select a toy that you know a lucky child will love.Ship it to the ERIN headquarters at 600 River Avenue, Suite 103, Pittsburgh, PA 15212, c/o CEO Mike Stafiej.Email proof of your purchase to marketing@erinapp.com.

For every proof of a toy purchased, ERIN will match with another toy donation of up to $500 and add a stuffed Sammy the Sloth as a bonus gift. The Sloths for Sloths toy drive will end on December 13, after which all donated toys will be delivered to The Bus Stops Here Foundation for delivery to the kids of Pittsburgh.

For additional information, visit https://erinapp.com/toys. To hear more about Sloths for Sloths directly from CEO Mike Stafiej, watch this episode of The HR Morning Show.

Media Contact

Evan White, ERIN, 509.995.9105, ewhite@erinapp.com, https://erinapp.com 

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View original content to download multimedia:https://www.prweb.com/releases/erin-launches-sloths-for-sloths-to-fill-ceos-office-with-holiday-toys-for-pittsburghs-underprivileged-youth-302314940.html

SOURCE ERIN

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