Common Challenges Among Hospitals of All Shapes and Sizes in Eligibility and Receivables Management, Willingness to Partner on Innovation... Themes Behind Red Hot Summer for MedAssist
Louisville, KY – August 31, 2017 - MedAssist, a company that hospital leaders rely on to simplify the financial experience for their patients and the people of their organizations, today announced a hot growth trend over the summer highlighted by five new customers and expanded commitments across from current customers.
Growth has been notable in Eligibility and Receivables Management; both solution categories represent a part of hospital Revenue Cycle Management. The themes behind the growth include common constraints across hospitals and a willingness to partner on innovation.
“The growth is really exciting for obvious reasons, but interestingly it’s happening across multiple regions”, said Paul Holland, Executive Vice President for MedAssist. “It’s been said that healthcare is local, and that’s true with respect to the delivery of care. But the common challenges hospitals face come down to an overwhelming demand on limited resources and tools. And they don’t just need bodies, they need qualified resources and technology that works, regardless of location.”
While new customers include some of the largest health systems in the country, others include smaller rural hospitals. MedAssist says this is a key indicator that, although individual hospitals have unique environments, two common themes prevail for all hospitals with respect to Revenue Cycle Management: 1) demand persists from a patient population in their community requiring Eligibility education about how to pay for their care, and 2) changes in technology and payer requirements continue to add complexity to Receivables Management.
Time, another constraint of sorts, acts as an accelerant to these demands hospitals face. “The clock keeps running which accelerates an increasing demand for both strategic and tactical work. It’s unique to be able to meet both types of demand, at scale, the way we can,” said Venkat Raman, CEO of MedAssist. “But big data and other complexities create limitations for everyone. Even though customers already experience positive results in working with us, we have to find ways to get better, ways to innovate together. It’s been amazing to see our customers work with us in developing and using new technology. Because of their commitment to view and try things differently, they are now beginning to experience even better results at scale in areas like uncompensated care and claims denial management.”
Insured or not, everything that goes into the non-clinical part of the patient experience is a complicated maze of financial traps and hoops… for both patients and hospitals. Hospital leaders can now simplify the financial experience for both patients and the people of their organization. Hospitals achieve a stronger financial foundation, while patients experience clarity and a path to peace of mind about how to pay for their care.
MEDASSIST… SIMPLIFY THE FINANCIAL EXPERIENCE. IGNITE PATIENT LOYALTY.