Self pay gets an overhaul.
Effective self pay strategies are now a do-or-die component of your revenue cycle operations. But doing self pay right (and keeping patients happy) in this healthcare climate requires new thinking, innovative technologies and a boatload of expertise.
MediRevv will help you devise and implement a winning self pay strategy that maximizes your cash collections, enhances patient satisfaction and increases loyalty among your patients.
How? We’re glad you asked. Our premier self pay services include:
- Early out self pay
- Self pay backlog projects
- Self pay credit balance resolution
- Financial assistance program administration
Technology makes the difference.
MediRevv has built a highly sophisticated, patient-centric platform containing many industry-leading technologies. In essence, we make these internal investments so that you don’t have to on your existing platform. What’s more, all activity performed within our integrated self pay systems can be easily exported and uploaded to your host system(s).
Self Pay Management System
Our full-bodied A/R management system automates the workflow processes that drive patient balance resolution by classifying the status of the account throughout the dunning level cycle. A single dashboard consolidating all relevant information helps patient representatives maximize productivity. In this way, we help you manage resources, monitor performance, lower costs and recover more cash to the bottom line.
Propensity to Pay
At its most basic level, a propensity score is designed to reveal the likelihood that a patient will make a payment on a specific account. Our self pay segmentation account profiling, or scoring, provides a detailed analysis of every one of your accounts.
Empowered with the aggregated information delivered through this patient-friendly, transparent approach, we can help you better identify where the greatest return lies for self pay follow-up efforts.
When you place a patient balance with MediRevv, our data services technology drives a national, multi-database search process that incorporates both quality and confirmation dates, the end result of which is a confidence score to validate your patient demographics.
This allows us to scrub and update existing contact information, so you can be sure the best address and most current phone number are used for mailing patient statements and follow-up patient contact. Our data services are completely automated, eliminating the considerable manual effort typically involved in validating and updating demographic information discovered through mail returns.
Inbound IVR (Interactive Voice Response)
Our fully robust inbound customer service phone feature enhances your patients’ experience by offering:
- Unlimited options to route calls to the appropriate representative
- Patient-friendly recorded messages
- The ability to easily make payments via telephone keypad or speech recognition
- The opportunity to quickly verify current account balances 24/7
PATIENT CONTACT MANAGEMENT SYSTEM
Turning idle time into productive time by 200-300% over manual calling, our fully hosted patient contact management system is part of an integrated solution that reaches the right contacts with the right frequency at the right time. It improves the automation of your routine tasks to increase both capacity and specialist productivity, all the while significantly reducing your operating costs.
MediRevv’s integrated patient contact management solution delivers several productivity-enhancing advantages, including:
- Superior speed and accuracy of calling
- Increased right party connects
- Decreased abandoned calls, and shorter wait times
- Automated voice messaging, text messaging and call recording
We speak your patients’ language. Supporting over 200 languages, MediRevv can easily link an interpreter proficient in medical terminology into the phone call between our trained specialist and your patient, eliminating frustration and building long-term rapport.
We’ve always believed that simple is best and that’s our approach to patient statements, which simultaneously adhere to HFMA best practices and maintain your brand message and identity in the community. Our patient-friendly statements clearly articulate the self pay balance and, through their design and customization, make “taking action” an easy and natural next step.
Our secure, PCI-compliant online billing solution allows your patients to view and pay their bills online 24/7. This provides convenience to them, while allowing us to securely collect and settle your accounts faster.
Our payment portal solution integrates seamlessly with your existing front-end billing application and back-end accounting system. It offers the critical features of data security, flexibility, scalability and centralized transaction management, while eliminating the risks associated with you having to manage customer credit card data.
Online Intelligent Negotiator
MediRevv’s online debtor payment portal allows patients to securely sign in to pay in full, negotiate a settlement or arrange a payment plan. By offering multiple payment channels and online tools to help get patient payments into the bank faster and at a lower cost, this MediRevv technology empowers your patients while maximizing your cash, all at a minimal cost.
Reflecting our commitment to full transparency in every partner relationship, we consistently deliver intelligent and analytical operational summaries based on performance KPIs previously established with you. And we present them via the MediRevv client portal for quick accessibility and historical storage.
Typical KPIs include:
- Placement trends
- Pending action
- Aging breakdown
- Project-to-date liquidation
- Inbound and outbound call data
MediRevv’s self pay A/R management technology provides preset payment plan tools to enhance both your ability to collect on reoccurring payments with automated tracking tools, reminder letters and specialized outbound calling campaigns, while also providing your patients with several avenues to quickly and easily make payments.