A large Midwestern Health System's point-of-service collections (POS) were historically low. They considered several options to increase POS; keeping the status quo, creating an internal centralized pre-access department or partnering with Avadyne Health. The Health System didn’t have standardized pre-access processes and the staff was not trained to have effective financial communications with patients. They desired to improve cash collections at POS through increased price transparency and improve their Patient Financial Experience (PFX).
They chose to partner with Avadyne to achieve a seamless PFX integration which began with training their team, creating processes and integrating our workflow software seamlessly with their Epic system. Our S.M.A.R.T.-trained call center representatives initiated insurance verification, service estimates and began calling patients following the scheduling of their service. This comprehensive patient communication included verification of demographic and insurance information, the patient portion service estimate and ensuring expectations were set regarding patient financial responsibilities.
The collaborative efforts achieved performance beyond their expectations. The health system saw improvement in pre-service and POS cash collection of 82% in the first quarter. Over 90% of accounts were completed to final financial outcome prior to service. The continuing engagement has allowed the Health System to improve POS cash collections and to more accurately identify cash projections to set target goals.