Enhancing Medical Economics

• Maximize positive financial impact to our provider clients' bottom line
• Strengthen the relationship of our provider clients with their patients

Point of Service Patient Payments
We have identified the transforming of patient-responsible revenue cycle from a back-end collection template to a tremendously more efficient front-end payment model as the most effective way to achieve both goals. This model is defined as where the majority of patient-responsibility balances are collected or arranged to be collected at the time the service is rendered.

This means formulating a strategy to provide the following for every patient that will potentially have an out of pocket financial obligation, at the time of service:

• Explanation of their benefits
• Billing amounts
• Contracted coverage
• Estimated Out of Pocket responsibility
• Opportunity to settle their presumed balance
  • Pay now
  • Set up an automatic payment plan
  • Provide a payment authorization (card on file) to be used at a predetermined time.

Maximizing the positive financial impact to your bottom line.
Due to higher deductibles, decreasing insurance coverage and increased self-insured patients, out-of-pocket patient responsibility for medical expenses has more than doubled in recent years. Healthcare providers are now faced with longer accounts receivable cycles, higher balances owed, and mounting bad debt. Studies have shown that up to 75% of a provider's slow-pay and no-pay patient accounts receivable can be resolved when a patient understands their financial responsibility for care received. Research suggests the best time to discuss and arrange financial arrangements with patients is at the point of service.

Strengthening your patient relationships.
Patients rarely fully understand their own insurance benefits, let alone the complexities of third party payer billing. Our goal is to educate patients as to the costs of their care, and help them navigate these costs. With the right tools and support, your staff can help patients understand their insurance coverage, deductibles, and co-insurance requirements.

Focusing on Results
IHS's top concern is ensuring our provider clients successfully implement and utilize the best tools available to reap their greatest possible rewards.