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Securing Patient Payments in 2016

Health iPASS
Mar. 22, 2016
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Securing Patient Payments in 2016

  1. “Steps To Virtually Guarantee Pa4ent Payments in 2016” Live Webinar Wednesday, December 16th, 2015 Presented by Rajesh Voddiraju, HealthiPASS
  2. Lebron James’ $13.4M Miami Mansion Or the amount of bad debt wriSen off each year from a 100 doctor group.
  3. Pa4ent is now the LARGEST payer
  4. High Deduc+ble Plan Enrollment 0 2000 4000 6000 8000 10000 12000 14000 16000 18000 20000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Number of Enrollees
  5. Affordable Care Act Enrollment •  ~11 million enrollees •  96% of enrollees have 20+ % Co-Insurance •  90% of enrollees have 30+ % Co-Insurance •  70% have 40% Co- Insurance Source: March 2015 ACA Enrollment Report Department of Health and Human Services ASPE
  6. It’s 4me to stop spraying and praying! Instead of blas2ng pa2ents with statements and phone calls, we need to apply a modern approach.
  7. Why aren’t we shoo2ng at an empty net?
  8. Who is more likely to pay their medical bills in full?
  9. [New] Methodology For Pa4ent Payments Empower Engage Delight
  10. Empower through transparency
  11. ✔ Transparency encourages pa4ent accountability for payment. ✔ Empower pa4ents by helping them understand their coverage: •  What do my benefits cover? •  What am I paying out of pocket? •  What does this bill mean? ✔ Provide pa4ents with cost es4ma4ons at the point-of- service (POS) to shik responsibility. Empower through transparency
  12. Cost es4ma4on provides transparency and empowers pa4ents
  13. Engage with convenience
  14. ✔ Convenient payment op4ons, like self-service check-in, enable new ways to engage with pa4ents. ✔ Mul4ple methods of payment maximize opportuni4es to collect, such as: credit cards, ACH, etc. ✔ Leverage smartphone apps and point-of-service payment technology. ✔ Benefits include reduc4on of administra4ve and employment costs, increased pa4ent engagement and sa4sfac4on. Engage with convenience
  15. Convenient, self-service check-in
  16. Pa4ent check-in Check benefits Make payment
  17. Delight with confidence
  18. ✔ Confidence in the way payments are made and collected allows the pa4ent and doctor to have peace of mind. ✔ Confidence op4mizes pa4ent care and builds rela4onships with pa4ents. ✔ Confidence enables higher pa4ent reten4on/sa4sfac4on, more preventa4ve visits, and quicker and more frequent appointments. Delight with confidence
  19. “HealthiPASS is a game changer. Nearly 90% of our qualifying pa+ents opt-in. As a result, we no longer worry about collec+ng the pa+ent por+on of the bill. We love knowing we have a solu+on in place that works. We’ve collected 95% of our pa+ent responsible por+on by implemen+ng the HealthiPASS solu+on and we have increased our overall pa+ent sa+sfac+on.” John Hornberger, CEO, Orthopedic Center of Palm Beach County
  20. WHO WE ARE A digital check-in and pa4ent payments technology company that assures and accelerates pa4ent payments. Our clients have achieved pa4ent net collec4on rates of 90-96% while delivering an outstanding pa4ent experience. OUR MISSION Solve today’s fast-growing challenges around pa4ent pay for both providers & pa4ents. WHAT WE DO Provide contemporary tools and technology that enables your prac4ce to see all of the pa4ents you wish while op4mizing their ability to pay.
  21. New metrics to track Pa+ent RCM 1. Pa2ent Net Collec2on Rate = Pa4ent Collec4ons (Pa4ent Collec4ons + Write-Offs + A/R > 90 days) 2. Pa2ent Yield = Pa4ent Collec4ons – Cost of pa4ent collec4ons (Pa4ent Collec4ons + Write-Offs + A/R > 90 days) 3. Pa2ent Average Days to Collect (or Pa4ent Days in A/R)
  22. CONTACT US Ques4ons? (855) 484-4727 info@healthipass.com healthipass.com
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