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 both our MedData OneTouch℠ solution for hospitals and FastTrack Coding & Billing service for hospital-based physician practices, 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 Involving Your 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.
I think they are very attentive, they pay close attention to accounts and they are always looking & proactive in finding opportunity. We don't have to have to point accounts out to them.
You do what you do very well. What makes you stand out is that you are more of a partner with us to help us be successful in our business.
The MedData staff is responsive to our patients needs and obviously to our needs as an organization, not only with our service & process.They are always right on top of issues. Very quick to respond and nip it.
MedData has SOC1 Type II certification for Patient Responsibility services.
Organizations that have achieved Service Organization Controls (SOC) certification have been audited by an independent certified public accountant who has determined the firm has the appropriate safeguards, policies, and procedures in place to satisfactorily protect the client’s data. That means when you partner with MedData, you can rest easy that your sensitive data is alway secure.
To learn more about SOC certification, please visit the American Institute of Certified Public Accountants (AICPA) website .
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