Adventist Health Increases POS Collection By Nearly 50% With MedeAnalytics' Patient Access Intelligence (PAI) Solution
EMERYVILLE, Calif., Oct. 22, 2013 /PRNewswire/ -- The recent introduction of MedeAnalytics Patient Access Intelligence (PAI) solution at 19 Adventist Health hospitals in four states has already proved beneficial to both hospital administrators and the patients they serve.(Logo: http://photos.prnewswire.com/prnh/20100621/SF23660LOGO)
One of the more difficult financial challenges facing hospitals across the nation is collecting payment when service is provided. MedeAnalytics PAI has boosted those critical point-of-service (POS) collections at Adventist Health by more than 48 percent, while increasing pre-registration rates on scheduled accounts by 145% and reducing registration-related denials.
According to early reviews that interpret hospital data, the MedeAnalytics PAI solution has also improved patient satisfaction, as the hospitals are able to provide patients quicker, more accurate estimates of charges.
A Better Patient Experience"Ultimately, a better experience improves patient satisfaction and can lead to new business as patients tell their friends and neighbors," said Jon Giese, chief financial officer of Adventist Health's 188-bed Simi Valley Hospital, the site of the initial PAI pilot. "We all know that patients shop around for services. They call and want to know costs up front. We can now provide that information in minutes," said Giese.MedeAnalytics Patient Access Intelligence (PAI) is an intuitive, web-based workflow solution that provides critical information during the patient registration and financial clearance process – namely, an accurate estimate for the total charge, insurance company coverage and the patient's portion. The PAI Implementation ExperienceAt a rate of approximately one hospital per month, implementation took 18 months and involved training and desk-side mentoring of some 800 employees. "MedeAnalytics has done an amazing job with the build and training given the aggressive time line," said Cynthia Norman-Bey, patient access director at Glendale Adventist Medical. "Our PAI Solution offers hospitals across the nation powerful tools to counter dwindling reimbursements, increased expenses and the battle for patients who increasingly shop around before buying healthcare services," said Andrew Hurd, MedeAnalytics Chairman and CEO. Hurd noted that other healthcare systems have also deployed the MedeAnalytics smart PAI technology to maximize revenue by better managing the patient registration workflow process. They include Wheaton Franciscan Healthcare, with 11 hospitals and two medical groups across Wisconsin and Iowa, and Barnabas Health, with 15 hospitals in New Jersey. "We understand the marketplace and our customers' needs, which allows us to create solutions with a positive impact to the bottom line," Hurd added.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts