MediRevv Service Spotlight: Self Pay Extended Business Office
This marks the first in a series of posts about the services offered by MediRevv. Check back regularly for in-depth reviews of the specific solutions we offer to address today’s revenue cycle challenges.
The thing about self pay is that it is (or is perceived to be) the hardest revenue to collect. Most healthcare organizations focus their efforts so heavily on collecting from insurance companies that they leave self pay dollars to age. Why? Collecting self pay is unquestionably time and effort intensive, requires navigating a host of legal and regulatory complexities, takes the right staff members to do it well, and demands direct contact with the patient, which may be a source of tension and angst.
Truth is, there is and will continue to be a steady increase in self pay. Rising insurance costs and the resulting HDLP (High Deductible Low Premium) plans offered by employers are primary reasons, but there are also hundreds of thousands of uninsured and underinsured individuals in our country who pay out of pocket for medical services.
MediRevv encourages clients to think about self pay as an opportunity rather than a burden. We offer a paradigm shift, first and foremost, accompanied by a plan that is laid out in tandem with our client. Besides broad experience, we bring customized tools to maximize cash collections and maintain a positive patient healthcare experience. Depending on our client’s needs, we customize a variety of self pay A/R management needs, including ongoing early-out programs, self pay backlog programs and A/R reduction projects.
Our Self Pay Service offerings include:
- Day One Self Pay Program Management
- Automated Dialing and Call Balancing Technology
- Interactive Voice Response (IVR) Solutions
- Call Recording
- Patient Friendly Statements
- Patient Pay Web Portal
- Skip Tracing Services
- Financial Assistance Program Administration
- Self-Pay Credit Balance Resolution
- KPI Reporting Tools
If you are facing RCM challenges, outsourcing self pay is a great place to start bringing more revenue to your organization. For specific examples, check out what we were able to do for Keck Medical Center of University of Southern California (USC) and Advocate BroMenn Medical Center.