Dan Wiens talks about how Experian Health is changing they way consumers interact with health systems to understand their cost of care.
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 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.
By using Experian Health’s collections software in tandem with our other revenue cycle management solutions, you can reinvent your entire billing and collections process. It not only boosts your revenue, but also helps you provide patients with more personalized, compassionate financial options.
Experian Health helps reduce bad debt write offs—in compliance with industry regulations--to minimize risk.
An end-to-end, data analytics–driven, self-pay receivables management service that determines a patient’s propensity to pay, scrubs accounts to remove uncollectable accounts, determines possible charity accounts, and monitors for changes in a patient’s ability to pay.
Correct patient data during intake by instantly comparing it against our robust database.
Price transparency tool that creates accurate estimates of authorized services for patients.
Determine which patients are likely to pay and connect those who potentially qualify for financial assistance with the right programs.
Convenient access means your patients are more likely to meet self-pay responsibilities.
Combine hospital and physician billing into a single document.
Reduce accounts receivable days through automatic correction of known bad addresses.
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 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.