PatientMatters is a purpose built company that was started to address the unprecedented growth in patient receivables.
This issue has created new problems for most hospitals but specifically community hospitals. By focusing specifically on seven key areas of hospital cash leakage (pre-registration and scheduling, emergency room, POS collection, patient advocacy, early-out, payment plans and bad-debt) PatientMatters uses a unique data set to drive educational and engagement processes that completely transform the experience and financial results for both the hospital staff and the patient, all within a business model that aligns incentives for all constituents.
Hospital industry challenges have brought a shift in the patient financial responsibility.
- Balance after insurance is increasing
- Larger insurance premiums
- Health exchanges plan designs
- Self-pay balances
- Medicaid expansion
CEOs and CFOs level hospital administrators have limited ability to respond
- Limited FTEs and capital
- Existing technology
- Regulatory constraints
- Inability to change culture
Misalignment between the system and the patient.
- Hospital must get paid for the services they provide
- Consumer understanding their role and benefits
- Hospital now has the burden to educate patients
- Inability to change culture to align incentives
PatientMatters transforms patients into educated consumers, empowering them to engage effectively with the healthcare system.
The company has a unique approach, proven processes, technology and patient-centered education that will reach your patients and provide a financial care plan. The first step is empowering your staff with the information they need, at the time they need it, to feel confident in asking patients to pay what they owe.
The transformation lies in the experience of understanding people and relationships, educating staff and patients and effectively communicating the right data and patient engagement options.