Lost payments, delayed refunds and increased debt are often symptoms of a financial authorization process with difficulties. According to the survey of the patient access status of Experian Health, More than six out of ten patients Let’s say they would feel more safe to cover their part of medical care costs if they are offered a payment plan. Even so, many are not aware of financial assistance that could further relieve their financial burden. The automation of financial authorization helps to bring patients to the correct financial route as quickly as possible, results in simplified collections and a Best patient experience.
In a recently Web seminar on requestBrandon Burnett, vice president, income cycle at Community Health System, shared how your organization is using Patient financial update (PFC) for financial assistance automation and to increase efficiency through the income cycle. By using Experian Health data to quickly identify the election of charity care and generate appropriation payment plans, they have been able to increase the amount covered by charity care by 30% and reduce the unknowable debt without any additional personnel. This article summarizes the key conclusions.
Why automate the patient’s financial authorization?
Kim Berg, director of Consulting and Products Optimization of Experian Health, established the stage by explaining how Patient financial update It helps medical care organizations to evaluate the financial capacity of patients and guide them accordingly. Using data such as estimated income, household spending and size habits, the tool calculates federal poverty levels (FPL) and assigns propensity scores to be paid, so suppliers have a more realistic idea that can be allowed.
“We are not collecting payment pieces or tax statements,” Berg said. “We are using consumer aggregate data to estimate income and calculate the patient’s capacity and predeensity to pay.” With this, health systems can quickly identify eligibility for charity care and offer personalized and affordable payment plans. “It’s about understanding the ability of a patient to pay and guide them along the right financial path.”
Use of data to support compliance with state regulation and automatic financial authorization processes
The increase in medical care costs and uncompromising care are the main motivations to improve the presumptive charity evaluation. Berg pointed out that changes in state regulations add pressure, introducing Additional checks for the Evicance of Charity Attention Before patients are sent to collections.
“We are seeing more states by approving legislation that introduces some type of charity requirement,” he said. “We can provide the data to help prioritize Soner patients in the process and work with you one to understand how data can help you meet status requirements.”
Burnett said that the evaluation of presumed charity with the patient’s financial authorization has helped his organization to administer the thesis changes, including California AB-1020. “We are using experiment data to automatically decisions when patients apply. It means that we do not require any additional documentation or information.” It helps “move eligible patients outside accounts receivable and the approval of faster charity.”
Automate charity approvals to reduce manual work and uncollectible debt
Sharing a look at the financial authorization workflow of the Community Health System, Burnett described how the patient’s financial authorization had led to a 30% increase in the amount approved in the care of charity compared to 2023, without an increase in the incobrable debt. They feel comfortable handle an average of 1,400 applications every month, with only one or two full -time employees.
“We have automated around 80-85% of our beneficial organization,” he said. When integrating PFC data with EPIC, the system automatically identifies charity-or process adjustments without personnel intervention. “The adjustments occur automatically, the letters are generated and nobody has to touch it. That is a great efficiency gain for our charity, because it is now based on exception,” he said.
Find additional efficiencies through the income cycle
While the community health system is also using Experian Healths Collection Optimization Manager For automatic collections, they have also integrated PFC data in their broader collections workflow.
“Using collections optimization manager, we can identify patients through their propensity to pay, their presumptive FPP and if they seem to be approved for one of our financial assistance programs,” said Burnett. “We are also evaluating bankruptcy and scrubbing to see if patients have died. Therefore, beyond PFC, the collections optimization manager is an excellent way to continue taking advantage of that data through the collection cycle.”
He stressed that Experian’s support had helped them get even more out of automation. “Experian will enter the site and walk through workflows. He doesn’t always know what other organizations are doing or what is possible, so it has been useful to have that advisory approach.”
These reviews helped discover more opportunities to use PFC data, resulting in hundreds of saved personnel.
“At first we are looking at these additional benefits,” said Burnett. “Experian said we could use the same data to transmit more processes, and ended up saving us hundreds of hours of personnel. That we did not expect, but he does not pay himself.”
Use of the patient’s financial authorization to improve the patient’s experienceS with self -service
For Berg, it is worth highlighting two particular benefits or the patient’s financial authorization for its impact on the patient’s experience. First, he paves the way for more compassionate payment discussions with patients, by giving financial advisors a more complete image of the patient’s financial situation.
“It can prioritize the work tails of financial advisors to focus first on certain patients, because they are likely to qualify or charity. He can sacrifice estimates and make sure patients understand their responsibility.” “If you understand your population paid Soner, you can guide them towards the right path and release more. There are many costs of costs and resource savings downstream.”
Secondly, Berg points out that many patients prefer to administer their requests for digitally financial assistance, without resorting to a financial advisor. “Many people because to handle everything on their mobile device or on a website,” she says. The recently Status of the patient access survey He discovered that 56% of patients want more digital options to handle medical care, while 67% want to be able to request online financial assistance.
To support this, many Experian Health clients are using PFC self -service options Allow patients to complete applications on their own, when and it is not more convenient. These include:
- The mobile left is prayer through the text message, with the option of sending a request through Ecare Next®
- Websites and patient portals, where patients can request and load documents online.
Offering these digital options satisfies the demand of patients with more control over their financial trip, while reducing manual work for staff.
“An excellent way to take advantage of the data through the collections cycle”
The experience of the community health system shows how financial assistance automation offers value through the income cycle. Patient financial update It helped to accelerate and increase charity approval, reduce administrative load for staff and reduce uncollectible debt, while guaranteeing that patients receive the support they need. With a clearer understanding of the financial capacity of each patient, the community health system can proactively guide patients towards the correct route, making financial assistance more accessible and reducing friction when it comes to payments.
The hidden benefits of using the same data to optimize collections are a strategic advantage for efficiency conscious suppliers. As costs and complexities continue the trend up, data -based automation is an increasingly useful way to improve financial health for both suppliers and patients.
Learn more about how Patient financial update Use data to help medical care organizations implement financial assistance automation, to improve patient satisfaction and increase collections.