Tech Revolutionizing the Way Patients Make Payments
UW Health, a leading health system, is making strides in enhancing the financial aspect of healthcare for its patients, thanks to the automation of patient estimates. This innovative approach, spearheaded by Ryan Klein, Senior Director of Patient Access and Financial Experience, is a response to the growing need for digital solutions in healthcare.
Klein, who typically holds the position of Director of Revenue Cycle or Patient Access Services, has been instrumental in organising UW Health's patient access and financial experience as a specialized division within the health system's revenue cycle management. The aim is to boost patient payment transparency and streamline financial processes.
The automation of patient financial estimates extends from pre-service to final payment. This means that patients are prompted to pay, set up a payment plan, or apply for financial assistance at check-in, based on propensity-to-pay data and their payment history in the Electronic Health Record (EHR).
The automation is designed to make the financial aspect of healthcare more manageable for patients. It delivers estimates via their preferred communication methods, reducing the need for additional calls to field questions. Moreover, it helps UW Health reduce statement costs by automating the creation of patient financial estimates, thereby lowering costs associated with sending statements.
By automating patient financial estimates, UW Health is personalising the patient financial experience. The health system aims to improve the patient financial experience while managing the cost to collect, a critical balancing act for revenue cycle leaders.
This strategy is a part of UW Health's overall approach to improve the patient experience. The discussion in the episode of HL Shorts, featuring Klein, focuses on this strategy and how UW Health uses technology to auto-create estimates based on providers' orders and visit types.
In conclusion, UW Health's automation of patient financial estimates is a significant step towards making healthcare more accessible and manageable for its patients. The health system continues to leverage technology to enhance the patient experience and streamline its financial processes.
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