We're all face-to-face with the rising cost of care, heightened regulatory pressure, and sky-high deductibles. And COVID-19 definitely complicates matters.
The bottom line is that for you and for every other healthcare organization, more revenue must come from direct payments by patients. Simultaneously, the volume and profile of your patients are changing, so maximizing collections on patient pay balances — and doing so in a way that creates a positive, memorable experience — is hard, expensive, and at times stressful work.
But it doesn’t have to be.
It's possible that inefficiencies exist in your system, processes, and perhaps even your people, and the present public health emergency magnifies the impact. We often can spot the symptoms miles away in the form of too-high days in A/R, sky-rocketing call volumes, and even in your patient statement protocol. You can tackle these common patient pay responsibilities alone, or you can let a trusted partner with over a decade of proven success drive efficiency into your revenue cycle.We handle:
You need efficiency and cost control, but not at the expense of making your patient feel like a number. We are continually investing in our patient-centric technology stack — everything from account scrubbing and propensity to pay to mobile payments, payment IVRs and patient payment portals.
We provide you with scale and speed to resolve patient balances and also save you from heavy technology investments and related hassles.
And the benefit to your patients? They pay how and when they want to.
There is tremendous opportunity for healthcare organizations to enable patients to manage their payments effectively. Further, the outcome of these efforts is equally promising: receiving payments timely, reducing unnecessary collection costs, and more.
Undeniably, COVID-19 is adding complexity, as guidelines for patient share-of-cost vary across payers, volume of care encounters remains a rollercoaster, and patients' ability to pay is threatened by a weakening economy.
Let's bridge the gap between today and tomorrow by tackling your patient financial experience, and ensuring it's unilaterally positive.