Cloud-based solution to automate patient payments for improved revenue cycle
ATLANTA (April 10, 2014) – Patientco, an industry-leading revenue cycle management software company that works with healthcare organizations to change the way payments occur between patients and providers, announced today Capital Region Medical Center, a community based hospital in Jefferson City, Mo and affiliate of the University of Missouri Health Care System, has selected Patientco for its cloud-based patient payment automation solution. The partnership will enable Capital Region Medical Center to facilitate an easier payment experience for patients, simplify patient billing and payment processes and optimize financial performance.
“The industry is facing a lot of market shifts, one of which includes the increasingly high responsibility that patients are shouldering for their healthcare costs,” said Debby Froebel, Director of Revenue Cycle at Capital Region Medical Center. “By working with Patientco, we have been able to increase payments at the point-of-service and bring a majority of our patient payment processes back in house. Additionally, time saved on previously manual workflows allows our staff to spend more time engaging patients on the financial aspect of their care journey, ensuring they understand their healthcare expenses which improves the overall care experience.”
Capital Region Medical Center recognized the need to leverage the right tools to help address industry challenges and opportunities with regards to increased patient financial responsibility. With Patientco’s patient-focused solution, the organization was able to quickly implement an intuitive suite of cloud-based tools that helped to boost staff motivation and enhance patient loyalty. Additionally, Capital Region Medical Center now has access to:
- Flexible payment options. By giving patients the choice over when and how to pay – in cash, check or credit card via phone, mail or online – staff can reduce financial anxiety and make patients feel more engaged and confident in the quality of care.
- Easy-to-understand billing statements. Statements designed based on market research of patients’ reception to a medical bill, leverage elements such as icons, clear layout, simplified language and color psychology to ensure that patients have a clear understanding of their responsibility.
- Secure patient engagement tools. Access to a Health Insurance Portability and Accountability Act (HIPAA) compliant portal enables patients to easily manage, pay, and securely communicate with their provider about healthcare costs, resolve issues, provide additional insurance information and set up payment plans.
“Capital Region Medical Center is a leading healthcare provider in Jefferson City, Mo., and we’re excited to partner with them to provide a solution that automates their patient payment processes,” said Bird Blitch, CEO of Patientco. “Studies suggest that one dollar out of every four in revenue is now paid by the patient. Our collaboration reaffirms Patientco’s commitment to providing forward-thinking solutions that help providers stay competitive during this market shift by increasing patient revenue, lowering collection costs, streamlining the business office and ultimately enhancing the patient experience.”
About Capital Region Medical Center
Capital Region Medical Center is a 114-bed community hospital offering a continuum of care from prenatal and maternity, emergency services, orthopedic care, surgery, cardiovascular care and home health services. It also offers one of the few accredited inpatient rehabilitation centers in the state. In addition to being a full-service hospital, Capital Region Medical Center operates an extensive clinic system from urgent care centers to specialty physician practices and is home to Jefferson City’s only comprehensive cancer center, the Goldschmidt Cancer Center. Through an affiliation with University of Missouri Health Care Capital Region provides access to specialized academic care to the community. Capital Region Medical Center always strives to live its mission: to improve the health and promote wellness of the people and communities we serve. For more information, visit: crmc.org
Patientco is a leading provider of patient payment automation solutions designed to increase revenue and cut costs by simplifying the payment process for patients and streamlining the patient revenue cycle for providers. Patientco’s suite of proprietary cloud-based technology tools produces easy-to-understand statements, offers patients their choice of secure payment options, facilitates direct provider-to-patient communication and automates traditionally manual back-office processes for providers. To learn more, call 888-747-2455 or visit info.patientco.com.php53-22.ord1-1.websitetestlink.com/providers.
###Tags: healthcare IT, patient financial responsiblity, patient payments, patientco, revenue cycle management