Today we enjoy over 4,000 clients located throughout all fifty (50) states and some US territories. Their business models all vary as we serve health systems, rural hospitals, clinics, physician’s groups, medical billing companies, AL and LTC pharmacies, specialty groups and practices. However, every one of our clients share a common objective within their organization, and that’s placing the statement associated with the service and medication that they have provided into their patient’s hands in a timely manner. The statement generated and mailed or presented to a patient or guarantor represents the cash flow critical to allow these organizations to operate on a daily, weekly and monthly basis.
In most cases, these organizations have contracted with a company like Etactics, Inc. (www.etacticsinc.com) to address the delivery of these statements while they focus on their number one business priority, or providing health related services to their customers. These outsourced providers will re-engineer the statement’s format, ensure it’s inclusive of all billing data, map it to an approved template, and then produce its output and facilitate its delivery based upon the desired receipt method of the patient or customer. But is this enough to influence responsible or timely self-pay or private-pay patient payment? We find that statements are delivered month after month with little or no patient response, and, at a significant and ongoing cost to the provider. Frustrated providers then make a disposition on this patient or customer in an attempt to collect, and when doing so, sever that patient’s loyalty.
Etactics, Inc. is using “event” data in the statement file of the HIS, EMR, or PM solution of the clients we serve, to launch automated campaigns that allow the delivery of the statement to be accompanied by complementary services. Business rule generated, services like past due inserts, bill reminder phone calls, email or text reminder alerts can all accompany the delivery of a patient’s statement as a reminder to influence action. These campaigns can be revisited every thirty (30) days to ensure their efforts are aligned with your organization’s expectations. Access to a User Interface and a results dashboard will quickly allow our customers to inspect results month-over-month and at the file upload or patient and guarantor level. Moving a complementary service “up” in the statement’s life cycle can drastically impact aging receivables in a positive manner.
To learn more about our intelligent statement solution, please watch this video: