Boost Point of Service Collections
Hardwire best practices in patient financial communications to improve consumer engagement and upfront collections.
High-deductible plans have shifted more financial responsibility to patients. In response, hospitals and health systems need a more engaging approach for talking with patients about cost. Recording and monitoring patient financial conversations gives hospitals valuable data to improve financial integrity, increase point of service collections and reduce bad debt.
Recording and Quality Assurance.
The Trace® platform gives you the ability to hardwire best practices in patient financial communications. Voice solutions can be used to record phone and in-person conversations with patients during pre-registration, at the point of service and in post-service billing and collections.
Listening to recordings gives supervisors valuable insight into successful strategies for upfront collections. Quality assurance of recorded conversations and on-screen activity offers objective analysis of both team and individual performance, as well as opportunities to reinforce scripting, tone and key phrases.
Payment Data at Your Fingertips.
Trace captures and integrates patient financial data including benefits, financial clearance and pre-registration information for enterprise access and exchange. Within Trace, recorded conversations are linked to the patient account along with documents and images reflecting corresponding patient visit information.
Access to up-to-date financial data gives teams the ability to provide self-pay estimates and payment options to every patient. Health First in Rockledge, Fla., leveraged Trace to support its approach to providing estimates to every patient, a strategy that has resulted in a 27 percent increase in upfront collections. Read Health First’s 10-step approach to increasing POS collections.
Your organization can leverage Trace data to assist patients in making informed care decisions and foster improved communications surrounding upfront costs of care. Conversations are always available in Trace if needed for later reference in financial counseling, billing or post-service collections.
Find out more about how Trace can help improve point of service collections for your organization.
Schedule a call with one of our healthcare solution professionals today.