With deductibles on the rise, now is the time to ensure your payment collection processes are keeping up.
PayAdvantage™ is a cloud-based analytical and workflow application that accurately estimates and helps collect patient responsibility amounts prior to service, allowing hospitals and physician’s offices to better inform patients up front and alleviate unpaid claims.
PayAdvantage™ uses real-time, goal-driven analytical processing to collect patient balances prior to service and to ensure that balances unable to be collected get appropriately addressed by financial counselors.
The goal-driven process is activated once PayAdvantage™ receives scheduling or registration data flagged to be analyzed for potential patient balance collection. Users can also manually activate the process to request an estimate for services before registration.
The ability to configure “business rules” for the system helps staff better identify and analyze those medical services that have a patient responsibility, automatically calculate the amount due, and route alerts to the appropriate staff member to collect payment. The system also produces friendly, customized patient responsibility letters to inform them of their estimates.
PayAdvantage™ delivers performance reporting by department and by user to track potential to collect vs. actual amount collected.