Of course charity care is still part of your mission. Yet in today’s environment, we all agree that providers can no longer afford the ever-increasing levels of uncompensated care. While patient financial assistance programs are available, converting them to revenue is like trying to navigate a complicated maze without GPS.
Yes, you have people, process and maybe even some technology in place. Sometimes reimbursement is achieved.
But something is still missing.
Many patients leave... leave because care is complete. But an understanding of the financial responsibilities is not complete. They leave before that part of the encounter can be made clear.
And so you plummet off Cooperation Cliff; where patient cooperation drops by 33%*... also diminishing the probability of reimbursement.
* Sourced from an internal analysis of 650+ hospitals
What is Cooperation Cliff?
Cooperation Cliff is that unfortunate milestone where care is complete, patients leave, and cooperation drops. Achieving reimbursement after this milestone becomes more difficult if steps were not taken at the front end to ensure a payer source.
Avoid the detrimental affects of cooperation cliff and allows you to provide peace of mind to your patients on how to pay for their care.
What is your organization doing to avoid cooperation cliff?
There is a better way... a better way that leads to more net revenue, less self-pay, higher productivity for eligibility staff... even a better patient experience. Check out the results one of your peer providers achieved in the first 6 months using M FOCUS Powered by Sympraxis...
- 30% increase in Medicaid reimbursement on 5% less self-pay patient volume
- Self pay dollars ⬇︎17%
- Medicaid pending volume (0-30 days) ⬆︎64%
- Medicaid approval rate ⬆︎22%
- Patient complaints - 0
Why it Works
Real-time exchange and visibility of relevant data complimented by intelligent automation delivers efficiency and accuracy in communication and decision-making. This is accomplished by mission-critical integration of both internal AND external systems complimented by mobile patient engagement via the smartphone app...all enabled by support of the right people. This fully integrated approach ensures ALL partners are committed to a better process including providers, agencies, MedAssist, and payers.
What it Does
Automates the screening process
Delivers consistent, real-time feedback during registration
Captures missed/unknown insurance and/or existing Medicaid
Enables "always-on" engagement through the mobile app
How it works
Quickly and efficiently identify a payer source with integrated technology and automation that includes…
Screening for commercial insurance that was missed or unknown by the patient
Search of available charity programs and other local community assistance
Qualifying pathway for Medicaid driven by artificial intelligence
Verification of Medicaid pending and completing application status
What is your organization doing to help find a payer source?
Are you leaving money on the table?
Take this quick quiz to find out if your organization is doing everything they can to help your patients pay for their care, increase revenue, and relieve stress.