Maximize Time-of-service Collections

Patient bad debt is increasing at an astonishing rate, resulting in billions of dollars of lost revenue for provider groups. In fact, industry estimates point to only 35 to 65 percent of patient collections being secured after insurance pays its portion.¹ Even more alarming, collecting payment from a patient is 100% more costly than collecting from a payer.²

But without knowing exactly what the insurance company will allow, healthcare organizations cannot accurately determine a patient's financial responsibility prior to or at the time of service, forcing them to postpone patient collections and putting them at serious financial risk.

Backed by MPV's powerful claims valuation engine, MPV Patient Portion Pricer enables healthcare organizations to overcome this obstacle. By examining the latest contract terms, payer rules and fee schedules and then incorporating the relevant CPT codes to determine insurance allowables, MPV Patient Portion Pricer allows providers to accurately estimate patient payments at or before the time of service. As a result, providers can boost efficiency, minimize claim denials and reduce A/R days while effectively preparing patients for their out-of-pocket financial obligations.

MPV delivers a superior solution by combining real-time benefits details and allowables, which is imperative for an accurate patient estimate. As a result, users experience even greater benefits when MPV Patient Portion Pricer is married with MPV Eligibility, which verifies a patient's eligibility and benefit status in real time. Together, these tools enable caregivers to produce accurate estimates of the patient's portion of the bill based on the most up-to-date deductible, co-insurance and patient responsibility details, helping to speed cash flow, facilitate patient financial counseling and increase time-of-service collections. This consolidated solution also dramatically reduces the need for manual validation processes—including phone calls or searches on payer web sites—and numerous patient billing cycles.

MPV Patient Portion Pricer also allows users to:

• Reduce patient bad debt
• Accelerate cash collections
• Decrease patient billing and collections costs
• Set clear financial expectations with patient friendly estimates
• Customize payment policies based on a patient's propensity to pay medical bills
• Improve patient satisfaction by minimizing billing hassles
• Offer flexible payment options, including debit, credit and recurring payment plans