More Effective Healthcare Early Out Services
MedData works with providers to connect and engage with patients throughout the entire financial life-cycle – making sure they understand their bills, informing them of payment options, and helping them navigate any insurance issues. We then consolidate all their bills to eliminate any confusion.
As a key component of our MedData OneTouch℠ solution, our distinctive patient-focused approach to balance after insurance, uninsured, and underinsured services incorporates innovative technology and resources to improve your cash flow and decrease write offs, all while creating better healthcare early out services for patients.
This approach allows hospitals to collect overdue payments while increasing patient satisfaction.
Expected Results From Incorporating Patients Throughout the Revenue Cycle
The patient is now the #3 payer behind Medicare and Medicaid.
Patient responsibility is expected to climb to 50% of every healthcare dollar by 2020. Getting reimbursed for the patient pay segment could be the most important number to your bottom line.
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The Importance of Focusing on Patient Responsibility
In the past five years, the implementation of the Affordable Care Act has caused patient payment responsibility to dramatically rise – and it will only continue to increase.
More people insured means that more people are signing up for plans without fully understanding what’s covered. Additionally, many plans on the healthcare exchange market come with high deductibles.
Due to these changes, the patient is now the #3 payer behind Medicare and Medicaid.
Collecting from patients has proven to be more difficult than receiving payments from insurance companies, which can become a major expense for your organization. Writing these payments off as bad debt can or uncompensated care can become a financial burden in the long-term.
Why Patients Don’t Pay Their Bills
What Makes MedData Different
Patients aren’t just numbers. In fact, we’re all patients, so it’s easy to see how frustrating it can be in the absence of clear, reliable, and efficient patient billing communications.
MedData strives to put patients first in the billing process by working with them to find and receive coverage, as well as implementing the following tactics:
When focused on patient education and satisfaction, physician groups and hospitals can expect stronger reimbursement on patient balances. Educated patients pay their bills. Satisfied patients translate to higher reimbursements.
MedData works with hospitals and clinics to ensure they remain in touch with patients before, during, and after their care.
The first step in patient responsibility is helping healthcare organizations connect with patients before and after their visit to provide them with the information they need, which can help prevent delays, reduce denials, and increase satisfaction.
Our portal offers the following features to allow you to better connect with patients:
- Same-Day Scheduling
- Pre-registration calls
- Online registration
- Insurance Verification
MedData works with hospitals to continue communication with patients throughout their visit, which can help set their payment expectations by helping them understand their insurance coverage, the availability of any financial assistance programs, and what’s to come next.
MedData’s online payment portal gives patients the ability to review their statements, understand hospital policies, and make payments.
Our portal gives patients a variety of ways to pay their bills, which makes it easier for you to receive collections.
Payment options include the following:
- Bill consolidation
- Payment plans
- Discount policies and pricing for uninsured and underinsured patients
- Medical Loan Programs
We’ve developed easy ways to collect payments from patients. Our team works extensively to verify insurance and uncover any secondary or additional insurance.
By outsourcing your patient collections, you can focus on what you do best: billing insurance companies.
Actual quotes from our Clients’ patients.
He helped resolve an issue with my insurance coverage and called me back like he promised. He was very nice, patient, and kept his promises by following up and fixing my issues.
Your patient service representatives did an incredible job in resolving my account concerns. They were wonderful and very helpful!
Even though this has been a very frustrating time, you have been extremely helpful. I had been going back and forth with insurance and just when I thought I was getting nowhere your team assisted in the best manner and was able to solve the issue at hand!
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