Whether they have insurance or not, the only critical buying decision people make today where they don’t know the price or how they will pay is healthcare. The non-clinical side of the patient experience is a complicated maze of financial traps and hoops… for both patients and hospitals.
Hospital leaders rely on us to simplify the financial experience for both their patients and the people of their organization. Hospitals achieve a stronger financial foundation, while patients experience clarity and a path to peace of mind about how to pay for their care. Happy patients are loyal customers. And loyal customers tell their friends and family about their good experiences. That leads to new market share for the hospital…the kind of market share no financial software can create nor any marketing budget can buy.
Hundreds of hospital leaders have chosen to work with us at more than 1,400 locations of care across the country.?Leveraging the latest in technology and subject matter expertise, MedAssist can be integrated into your environment so you can achieve a stronger financial foundation and ignite patient loyalty.
Many people put off seeking medical care because they’re worried about how they’re going to pay for that care. This leads to people in our communities becoming more acutely ill then showing up to hospitals and emergency rooms, still with the added financial stress.?Get out in front of this challenge and care for your community with the M.Outreach solution.
With growing complexity in receivables fueled by value-based and bundled payments, the patient is often the one that gets overlooked. Balancing empathy for patients with visibility to insights and efficiency in work flow is important in building sustainable patient loyalty and maximizing cash flow. Achieve this balance through an M.Assist solution.
Thousands of small and rural communities rely on their local hospitals for care. Unfortunately, these hospitals’ very existence is at risk.?Greater patient responsibility for payment, growing complexity in revenue cycle, aging technology, and constraints in staffing qualified employees all put community hospitals at risk. Sustain local care in your community with M.Source.
Our client is an acute care health system serving Southwest Ohio, serving 2,000 beds in 5 acute care hospitals. Firstsource introduced a proprietary scoring and segmentation system, optimised customer touchpoints and trained a specialised team in order to help ease financial pressure on the client, while maintaining a high level of patient satisfaction.
in incremental cash over 4 months
extra collections income over 16 months
Our client’s Consumer Directed Health Plan (CDH) team was focused on improving overall business processes via cost optimization, waste elimination and improving operational efficiency. Towards this direction a joint six sigma project was initiated to reduce duplicate claim edits that was contributing to 70% of backlog and 80% of CDH quality error.
A lean approach was adopted by using process maps for identifying redundant and convoluted process steps. This helped eradicated invalid duplicate claim volume flowing in from various sources. Sample claims were studied to identify top source feeds towards duplicate edits and the duplicate point rating system enhanced. This helped in improving auto processing of duplicates thus reducing manual interventions.
This innovative approach resulted in the elimination of 19% of claim volumes hitting manual review queues. A reduction of 14% of duplicate and 5% on all other edits was also realized and the elimination of redundant processes saved the client $1.25 million per annum.
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