Solutions for the Business of Healthcare

Finance Solution

Improved collection starts with having the right tools and access to the correct information when an opportunity to collect occurs. Automated entry of these payments, balancing with banks, and cross-checking with other systems provides a means to better manage revenues and improve workflow. Performance monitoring, incentive programs, and icon-based prompts simpifies and enhances collection performance and increases success rates when an active opportunity to collect occurs.

Consider this, if the average co-pay is $20.00 and each clinic in a Health System of 130 clinics sees 25 patients per day, that is $65,000 of co-payments alone per day system-wide. Further, if there are 200+ workdays in a year co-payments can represent in excess of $13,000,000 annually to even a modest sized Health System---a very signifigant piece of revenue.

Customer Service Call Centers & Portals:

Real-time credit card and direct debit payment authorization

IVR Integration

Fully integrated with 3 Chopt product suite, you will have access to real-time reporting and notification of patient web payments

All healthcare and financial data are safe and secure in our fully compliant portal

Supervisory Controls:

Monitor daily activity and collection performance in real-time

Full audit trails with drill-through audit reports

Track chain of custody for deposit bags and change funds

Alerts supervisor for payment reversals and out-of-balance journals

For hospitals and health systems, the two biggest challenges for collecting payment at the point-of-service are determining what is owed and preparing and training staff to ask for payment.1

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Optional icon-based system prompts
meanful patient dialogs
and actions at registration.

Enhance Revenue:

Maintain Aged A/R levels to a 15% ratio

Reduce refunds and eliminate associated costs

Collect co-payments correctly at 85%

Reduce Physician charges for billing services

Collect smaller balances that would otherwise be written off

Track the Money:

Alleviates Theft and Loss

Chain of custody for deposit bags and change funds

Alerts supervisor for payment reversals and out-of-balance journals

Live audit of journal activity by user or collection center

1. Source: TransUnion "Pulse Poll", Survey report, August 2011