Meet challenges at the front-end and the back-end of the revenue cycle with predictive analytics and optimized workflow to collect more cash at a lower cost while delivering a patient-friendly experience. Manage, measure, and integrate patient-pay activities across your internal team and vendor partners, increasing yields while reducing the cost to collect.
All solutions provide a variety of dashboards, reports or performance management to help manage the business and are delivered with expert consultation to evaluate staff productivity and drive efficiency.
Growth in high deductible health plans is shifting easily collectable payer revenue to co-payments, deductibles and co-insurance. Every dollar of revenue shifted from commercial to self-pay and BAI risks tripling collection costs and reducing cash collection by 30-50%. New risk-based reimbursement contracts put a premium on every patient interaction. Unsatisfying interactions with the business office does not promote institutional trust and commitment and has been shown to reduce the amount a patient will pay the hospital.
Connance solutions are delivered through a secure cloud-based optimization platform that integrates predictive analytics, a rules engine, work listing, and performance reporting with patient, payer and partner engagement modules. Work in your existing system – current deployments include EPIC, Cerner, Siemens, MEDITECH and many others – or utilize Connance’s platform as your team’s work listing, collaboration and workflow tool.
*HFMA staff and volunteers determined that Patient-Pay Optimization has met specific criteria developed under the HFMA Peer Review process. HFMA does not endorse or guarantee the use of this business solution or that any results will be obtained.