Good times at the New York Stock Exchange this morning celebrating Atlanta’s success in business and innovation! We are proud to be one of the companies chosen by the Metro Atlanta Chamber to take part in this event.
By Josh Byrd
It’s an exciting time to be at Patientco. We are putting the finishing touches on one of our most successful years ever. We are planning for 2018 with an incredible product roadmap (more on that next year!) and most importantly, we are growing!
Recently I had the chance to sit down and chat with our new Chief Operations Officer, Mike Hersh, to ask him a few questions to help us get to know him a bit better. He brings incredible experience, knowledge, and passion to Patientco and we are incredibly excited to have him!
JB: What about Patientco made you want to join the team?
MH: There are several reasons: First, I’ve known Bird for a long time and really appreciate and respect his vision, integrity and humbleness. Second, I love the healthcare space Patientco is in. Third, there is an incredible team that has really bought into the vision and believe deeply in what they are doing, which is to transform how patients engage with providers as it relates to patient payments.
JB: What is it about the healthcare space that you like?
MH: One of the big changes going on within healthcare is the ever-increasing percentage of the actual dollars that are the responsibility of the patient. While most people focus on the burden this places on the patient, which I have deep empathy and sympathy for, what most people do not realize is that many patients do not pay their portion of the healthcare bill at all. This results in material write-offs for a hospital, which society may think is okay until they realize that many hospitals, especially rural hospitals, end up closing their doors due to financial pressure. This means that most of rural America is forced to travel long distances to obtain quality care. That is not in the best interest of the public.
What makes Patientco special is that it understands how to get the subset of patients who can afford to pay their bill to willingly pay. Patientco helps them understand and provides a myriad of ways to for the patient to pay, on terms that they are more comfortable with. (more…)
As you may have seen recently, a Black Book revenue Cycle management survey making the internet rounds found that patient financial responsibility jumped 29% since 2015. To meet this growing demand, 83% of providers surveyed plan to meet the rise in patient consumerism with more retail-like technology solutions. We were honored that Patientco was among the top-rated vendors listed in the patient payments category.
As patient deductibles continue to increase, many patients are demanding patient-friendly payment options, and providers are scrambling to manage higher levels of patient A/R. 87% of providers said convenience enhancements for patient payments were among the most demanded improvements from patients.
Patientco provides health systems with modern consumer payment technology backed by machine learning and predictive modeling to help providers optimize their revenue cycle and maximize patient payments. Learn how we use millions of past patient transactions to help providers predict future patient revenue in our free white paper.
The following interview was published in the Atlanta Business Chronicle. You can read the original article here.
Patientco CEO Bird Blitch Aims to Make Company a ‘Best Place to Work in Atlanta’
Welcome to Atlanta Business Chronicle’s “Meet the C-Suite,” where each week we will feature one of the city’s most high profile c-level executives. This week, meet Atlanta-based Patientco CEO Bird Blitch.
Name: Bird Blitch
Background: Joshua Silver and I started Patientco together in 2009 after we each saw firsthand how hard it is for patients to understand, manage, and pay for their healthcare expenses. It became even more personal for me when my wife had our first baby. While the clinical experience was great, afterwards we were bombarded with a barrage of paper bills, both expected and unexpected, all at once. As Joshua and I researched the problem further, we saw very interesting data pointing to the inevitable rise of high deductible health insurance plans and rising healthcare costs. This meant the patient responsibility portion would also increase dramatically over the next few years and we knew we were onto a real but fixable problem. (more…)
Recently, Patientco launched an initiative to celebrate and honor our clients who are doing exceptional work within their revenue cycle operations. After lots of ideas and planning, we are excited to announce our ‘Client of the Quarter’ program!
This past Friday, the Patientco team headed down to Warner Robins, GA to celebrate a very special client of ours and our first ‘Client of the Quarter,’ Houston Healthcare.
Houston was chosen as our very first Client of the Quarter due to their continual efforts to make the lives of their patients better by giving them easy tools to pay and excellent customer service throughout the often difficult experience of paying a bill.
To show our appreciation for all that Houston does for their patients, we we decided to take a special Patientco tradition to them. Each Friday, Patientco hosts a lunch for our entire team in order to reflect on the week and enjoy the fun and laughter of sharing a meal together. So we took the fun to the Houston team in the form of a catered meal for their revenue cycle team along with music, desserts and a small gift for each member of the team.
Thank you Houston for all you do for your community as well as being such an amazing client to work with. Your hard work has not gone unnoticed. Congratulations on becoming our first Client of the Quarter!
By Alan Nalle
As patients continue to take on more personal responsibility for their healthcare finances, hospitals and health systems are busy trying to crack the code for quick patient payments. It’s no wonder, considering providers collect only 17 cents on the dollar of what is owed on average. Even so, revenue cycle leaders often wait months to determine whether adjustments to their billing strategy are effective.
We like to think about patient payments from the driver’s seat – literally. Imagine steering your dream car (mine’s the Tesla X), but all you can use to navigate is therearview mirror. You can’t exactly enter insane mode when you have no idea where you’re going. To drive forward with confidence, you need to look ahead. (more…)
At this year’s HFMA ANI conference in Orlando, the patient financial experience was the clear focus and rightly so, as the patient is the fastest growing payer. Patientco exhibited again this year driving the conversation by releasing a new whitepaper, Accelerating Patient Revenue Capture with Probabilistic Modeling and announcing Enhanced Epic Integration for Patient Payments. Our new Chief Strategy Officer, Alan Nalle, gave an interview to Health Exec magazine on how predictive modeling can improve patient billing.
For healthcare finance leaders who were unable to attend the show, here are 3 patient-focused trends we noticed in both the educational sessions and the exhibit hall:
Improving the Patient Financial Experience
Patient experience is now a central focus for provider CEOs and that focus extends to the patient’s financial journey. The shift in the payer mix has required providers to update each step of the patient revenue cycle process from scheduling to depositing and posting the final payment. Emphasis was on educating the patient up front about potential costs that would not be covered by a payer such as copays and deductibles as well as requesting an initial payment upfront for certain circumstances and the tools to facilitate these payments.
Next-generation payment platform expands accessibility and functionality for Epic users and their patients
ATLANTA–(BUSINESS WIRE)–Patientco, the leading healthcare payments technology company that optimizes the payment experience for providers and patients alike, announced today enhanced integration between its dynamic patient payment platform and Epic’s market-leading EHR technology. The integration provides robust payment functionality, automated workflows, and payment processing through Epic solutions, including MyChart. Patientco’s payment platform can be deployed enterprise-wide to help health systems leverage their investment in Epic and improve the patient payment experience, while streamlining payment workflows for revenue cycle teams. (more…)
Each year, HFMA’s ANI show brings together the best and brightest in healthcare finance. This year’s theme is “Collaborating for the Future,” and we couldn’t be more excited at Patientco. When people come together to work collaboratively and inclusively, everyone wins!
And in that spirit, we’ve spent time collaborating with both patients and providers to create a payment-processing solution that meets everyone’s needs. (more…)
ATLANTA– Patientco, the leading healthcare payments technology company that optimizes the payment experience for providers and patients alike, announced today that Alan Nalle is Patientco’s new Chief Strategy Officer. Nalle will focus on guiding Patientco’s long-term strategy to grow its market share as the leading provider of next-generation patient billing and payment technology for enterprise health systems.