A particular strength of Culbert is assisting both Physician Practices and Health Care Systems proactively collect patient balances prior to visits or admissions. The creation of a centralized pre-registration unit will accomplish the following:
- Communicate directly with patients to verify insurance and educate the patient on their financial responsibility.
- Assist patients in potential means to assist with their financial obligations (Indigent care, Prepayment discounts, etc).
- Create a pre-registration process for checking eligibility electronically.
- Coordinate with the hospital/practices, I.S. and Billing to improve the revenue cycle.
- Assist the practice/hospital registration areas by developing procedures, and communication around collecting the patient’s portion of the bill when they come in for services.
- Work with registration areas regarding errors so that information that interfaces to claims is correct and produces a clean claim the first time.
- It costs healthcare facilities approximately $5 – $7 per statement sent to patients for co-pays, deductibles and co-insurance’s that could have been collected up front.
- Creation of this new service line, there should be a reduction in edits, re-bills and patient collection efforts.
There are many advantages to this new revenue cycle model. The health system gains the economies of scale inherent in centralizing and specializing. Patients get a new service where someone can advise them about their insurance benefits and let them know before their appointment what they will be responsible to pay. By proactively understanding insurance, processes and systems can be put in place to ensure that reimbursement is received sooner in the revenue cycle.