The PatientMatters Solution
The program from PatientMatters includes a comprehensive patient-centered, patient access technology solution as part of its focus on seven key areas of cash leakage (pre-registration and scheduling, emergency department, POS collection, patient advocacy, early-out, payment plans and bad-debt) that enables hospitals and health systems to effectively communicate the financial obligations and every option available to their patients.
This highly integrated, silo-free, function rich technology, called Periscope, provides insight, direction, transparency and reporting to ensure adherence to hospital protocols. Periscope employs smart form technology providing instant validation of data used in the registration and scheduling processes. Periscope dramatically decreases errors early in the data collection process resulting in an improved patient financial experience.
Make sure that each patient is providing you with the correct mailing address. Verify that a patient’s self-reported address is a valid mailing address by checking it against the USPS CASS Services database.
Healthcare fraud can be very costly for hospitals and health systems. Periscope will ensure that the patient is who they profess to be. Checks are done against identifiers such as date of birth (DOB) social security number (SSN), address history and phone number history.
Periscope includes an integrated eligibility verification module that provides real-time results enabling the patient access staff members to quickly verify the patient’s insurance coverage. PatientMatters eliminates the per click fee, often charged by other companies, so hospital staff members are free to check eligibility multiple times during the patient’s stay.
Patients who know approximately what they will owe for services are more comfortable paying for services up front. Through extensive training, backed by an accurate estimate, hospital staff members are able to have effective conversations surrounding all questions patients have about why they owe, what they owe. The patient now sees the hospital staff as an advocate for their financial health as well as their clinical health.
How will the patient pay the amount owed? The ability to pay and the probability to pay for incurred hospital expenses can be determined using specific algorithms pre-selected by the hospital. Objective decision making skills combined with this element of Periscope technology can help team members to achieve better success with patient payments at the point of service or with longer term payment options.
Zero interest loans are great tools to offer to patients who suggest that they are unable to pay their bill. The PatientMatters technology gives registrars the ability to perform a pre-approved process certifying patients for loans. Once the loan is established, the hospital or health system will have immediate access to the balance that is funded. The patient is obligated to pay the balance over the established term to a financial institution. Loans can be established to cover the current procedure as well as all prior unpaid balances.
An integral element of the PatientMatters approach is the inclusion of patient friendly 501r ready patient statements. In addition, the scripts co-developed between PatientMatters and the hospital will provide for incentives to enroll patients for e-Statements. All patient statements can be delivered and viewed electronically.
The payment portal is a simple tool which patients can use to access their healthcare bills, pay them online and view receipts. Patients can view and pay their bills from any device, including the telephone. PatientMatters also offers a portal for hospitals that is fully integrated with Periscope so data entry is virtually eliminated.