Hospital Overcomes Billing Obstacles, Reduces Costs, and Increases Collections
In 2016, a hospital system in New York converted to a new electronic health records platform. Unfortunately, the conversion went poorly and one of the most notable casualties was the hospital’s self-pay process. Billing statements were significantly delayed. Some patients didn’t receive a bill until a year after service. Additionally, their statement design options were limited, and patients found them complex and hard to understand. This factor, combined with a lack of coordination with the early-out vendor that managed and pursued self-pay accounts, resulted in some patients getting calls about statements they hadn’t yet received. The system partnered with Elevate Patient Financial Solutions® due to their comprehensive Self-Pay solution, that engages patients through their U.S.-based call center, and optimized processes.
Click the button below to download the full case study and learn how ElevatePFS increased this client's collection rate from 34% to 57% in five months, allowing the hospital to collect more and devote precious resources to other areas.