Patient Pay Equals Profit

by Kurt Lovell, COO Patientco

patientco_blog_profitDo you remember when, in January, HME News published this: “CMS announced today that reimbursement rates for certain home medical equipment will be, on average, 45% lower than the current fee schedule as part of Round 2 of competitive bidding?”

We immediately called one of our HME clients seeking insight on the impact to his business and to Patientco’s expanding HME client base, his response: “More than ever, patient pay equals profit so just keep doing what you are doing for us.”

The importance of patient pay is not lost on us.  In fact, it’s Patientco’s singular focus.  But to simply ‘keep doing what we are doing’ seemed inadequate.  We had to do more.

And we have.  We met and learned from Lundie. And Andy. And Juanita. And dozens of others.  Who are they?  They are your patients. And ours.

We’ve invested over 1,000 hours engaging patients, studying their behaviors and tendencies and designing a communication solution that addresses their ever-growing diversity of needs.  More critically, we’ve developed a solution that continuously evolves as we learn from the responses of individual patients.

To do that, we had to expand our solution so we could ‘close the loop’ and trace every patient action back to the specific underlying communication event.  Closing the loop allows Patientco to continuously improve the effectiveness of your patient pay process.

And that matters. If you want to address the 45% you don’t need a static solution. You need a solution that can stay one step ahead of your patients.

Please come visit us at Heartland on June 10-13 in Waterloo, IA to learn more.

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