Healthcare’s patient-dependent revenue cycle is forcing hospitals and other healthcare providers to change their collections strategies.
Patient access staff must be the patient’s advocate while also improving the organization’s ability to collect from the patient and payer. By leveraging a data-driven approach, staff can verify patient identity and insurance coverage as well as provide an accurate estimate of payment responsibility. Staff even can review data to assess ability to pay and evaluate various payment plan and/or financial assistance options.
Using our best-in-class collections software with our other revenue cycle management solutions, you can reinvent your entire patient billing and collections process. Boost your revenue and help provide patients with more personalized, compassionate financial options.
Let us help you reduce bad debt write offs—in compliance with industry regulations--to minimize risk while improving the patient financial experience.
It is estimated that providers collect less than 20% of balances larger than $200.
Our solutions have helped providers tap into an additional $4.9B in patient collections.
In 2021, Experian's Coverage Discovery solution found coverage associated with $66.8B in charges.
How Patient Estimates helped them increase cash collections from patients by 400%
Our financial assistance and patient identity screening tools have helped Kaiser Permanente proactively identify which members are able to pay at the point of service, and how they can manage patients on the backend, if they ended up with a balance.
Learn how Altru Health System implemented Collections Optimization Manager and Financial Assistance Screening to have real time information at their fingertips to help them make the right collections decision for the health system and their patients.
Since working with Experian Health, Sanford now has a focused approach to managing accounts receivable (AR) by identifying patients with a certain propensity to pay.
Patients may not always be aware of their insurance or eligibility for Medicare and Medicaid and providers are often tasked with finding this information on the spot.
Learn 4 ways providers can help make patient collections more compassionate.
Many healthcare providers suffer reputational damage because the patient financial experience fails to match high quality clinical care.