Our client is a prominent healthcare payments company in The United States. With the expertise of two decades in the area of healthcare payment collection, and having multiple offices across the country, they offer customer support to their clients round the clock.
The payment collection giant was relying on a manual, multi-step process on a platform that was not built for healthcare billing systems. With its ever-increasing clientele and evolving competition in the stretch, the company wanted to develop a payment process enabling digital payments by sharing information securely and more efficiently compared to the traditional models that will revolutionize the healthcare payments collection.
- Reduce payment processing time.
- Enable online payments.
- Optimize the payment process.
- Eliminating clerical input for the payment process.
Feathersoft developed a secure payment system that allows easy payment collection and processing. Feathersoft used a discrete approach by splitting the project into different modules and developing it with utmost customization.
Patient Current Balance: A product developed for sending Patient payment balances through email.
Patient Financial Assistance: A product developed to assist patients to make their payments with the help of various lenders.
Patient Eligibility Estimated Benefits: An admin tool developed to check patient eligibility to get insurance coverage on their payment balance.
Patient Financial Manager: A module developed to structure the patient balance payment process. The provider will look out for a patient and then do an eligibility check to see the extent of patient responsibility. An ID Assessment check after this will give an idea about their credit score.
Patient ID Estimated Assessment: An admin tool developed to check patient credit score details and their Federal poverty level.
Payment plan enrolment: A product developed for both patient and provider sides to convert the patient’s pending bill amount to instalments.
EMV card reader: A solution built for card payment process using PIN Et chip Authentication for secure payments.
Impact on Business
The software solution enabled the Client to offer their customers a healthcare-specific payment processing tool that enables eligibility verification, claims, remittances, and payment processing in a single transaction.
- Automating the process helped to accelerate efficiency and reduced the sample turn-around-time.
- Minimized human intervention in plans and payments
- Ensured payments with automated payment plans
- Faster and easier payments collection
- Geographical revenue analysis from transactional data
- Creation of common Data lake