![]() Supporting multiple systems not only creates a disjointed customer billing experience, but often a sea of paper that can be difficult, and even confusing, for patients to coordinate as the format of the bills generated from each system can vary, says Ivanoff, a former Capital One Financial Corp. It is not uncommon, for example, for a health system to support billing systems from financial and clinical management systems from Cerner, Epic and Siemens across its facilities. One of the biggest issues Ivanoff and VisitPay identified with legacy billing systems is that health systems often use different billing system across their facilities. “When the Affordable Care Act was passed in 2010, we realized that consumers would be shouldering more of their healthcare costs and that the legacy systems within health systems were ill-equipped to manage the changes taking place in patient financial relationship,” says Kent Ivanoff, CEO and co-founder of VisitPay. ![]() Developed to improve patients’ financial health, VisitPay’s platform enables health systems to integrate all billing systems across their facilities to provide patients with a single, understanderable bill, create personalized offers that influence patient payment behavior, and offer payment plans and financing options that fit a patient’s budget. ![]() The steady growth in patient receivables puts even more pressure on hospitals to get reimbursed promptly, because as every accounts receivable manager knows, the older a patient bill gets, the harder it becomes to collect.īoise, Idaho-based tech-start-up VisitPay is betting its cloud-based platform provides the remedy health systems need to increase patient payments by improving the patient billing experience. Since 2011, consumer out-of-pocket spending for healthcare has grown 8% annually, totaling an estimated at $486 billion in 2016, according to research firm Kalorama Information. Kent ivanoff ivinci how to#Rethinking the Rules of Customer Engagement: Personalized, Proactive, PurposefulĪs high deductible health plans become more widespread, increasing consumer’s out-of-pocket costs, health systems are grappling with how to better manage the rising tide of patient receivables. The Holidays Unwrapped: Global Shopper Insights & Predictions Walmart’s last-minute holiday strategies for the ecommerce marketplace seller! ![]() B2B Weekly Infographic: Distributor sales growthĪccelerating B2B Ecommerce in Manufacturing ![]()
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