Change Healthcare today unveiled a dynamic solution to address some of
the most critical challenges faced by providers: reducing bad debt in a
growing self-pay environment while markedly improving the patient
experience. The Change Healthcare Patient
Liability Management solutions suite was developed in partnership
with health systems, and combines best-of-breed revenue cycle management
solutions with expert advisory and patient engagement services. It is
designed to achieve a more synchronized and engaging patient experience,
to help increase collections and improve patient satisfaction.
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Patient liability is an increasing burden on health systems as
out-of-pocket costs continue to rise, and disjointed patient experiences
lead to dissatisfaction, reduced payments, and delays in receiving
payments. By comprehensively addressing all facets of this challenge,
health systems can dramatically improve relationships with patients and
help realize greater revenue collection.
“In this era of high-deductible health plans, providers are spending
more and collecting less because they feel they need to invest in
multiple solutions and costly consultants to close myriad gaps in
patient self-pay liability,” said Kelley Blair, senior vice president
and general manager, Health Systems & Corporate Revenue Cycle Services,
Change Healthcare. “Implementing this suite of solutions will empower
providers to improve their revenue cycle operations and create a more
streamlined process that will reduce patient friction and provide better
coordination for resolving patient balances.”
Halifax Health, a large multi-hospital system, has implemented the
solution with great success, realizing more than $69 million of self-pay
revenue in the initial phase of implementation. While the primary phase
of the project focused on coverage discovery and Medicaid enrollment,
the second phase will be concentrated on patient engagement and
communications to increase collections and patient satisfaction. This
patient-centric model shepherds the patient from financial clearance,
price transparency, and coverage discovery through billing and payments.
Customized communications help keep patients informed of their liability
and payment options at the appropriate times, while keeping a pulse on
their levels of satisfaction as they navigate their care journey.
“Like many healthcare providers, we need to find paths to effectively
reduce uncompensated care, increase collections, and improve patient
satisfaction,” said Steve Mach, director of Patient Financial Services,
Halifax Health. “Working in concert with Change Healthcare, our team was
able to effectively streamline operations and create synergies between
siloed departments. We see this as the path forward to reduce self-pay
liability, increase accounts assigned to payer sources, and enhance our
focus on patient communications.”
Change Healthcare’s solutions are complemented with expert services and
consulting that work with the provider organizations’ teams to provide
training, optimize workflows, introduce best practices, and position
these teams for future success.
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About Change Healthcare
Change Healthcare is a leading independent healthcare technology company
that provides data and analytics-driven solutions to improve clinical,
financial and patient engagement outcomes in the U.S. healthcare system.
We are a key catalyst of a value-based healthcare system, accelerating
the journey toward improved lives and healthier communities. Learn more
at changehealthcare.com.
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