What it’s essential know:

– PatientPay, the main affected person billing and funds associate for acute, outpatient and specialty care, immediately introduced a partnership with Azalea Well being, a number one supplier of totally built-in cloud-based healthcare IT options and providers.

– As a part of the partnership, PatientPay will leverage Azalea Well being’s API infrastructure to supply outpatient care suppliers and neighborhood hospitals the power to handle affected person billing and funds on a single platform, driving quicker income progress and profitability.

Enhancing the monetary stability of rural healthcare with streamlined billing options

Rural well being care organizations usually face critical monetary challenges as they function on skinny margins that generally result in closures. Based on the Nationwide Rural Well being Affiliation, greater than 170 rural hospitals have closed or ceased scientific providers since 2010. Almost 450 others are in danger, with 50% working on destructive margins. On this setting, the power to gather funds from sufferers promptly is essential to the group’s survival.

PatientPay provides a singular method to addressing this downside, utilizing easy-to-understand statements and digital invoicing methods to speed up fee collections. PatientPay has demonstrated vital success throughout its buyer base:

– Funds are collected on common in lower than 14 days, in comparison with the business normal of 45 to 60 days.

– Almost 49% of digital billing messages convert to funds as soon as sufferers log in, considerably increased than the buyer sector common of two%.

– Cost seize charges for sure suppliers have tripled.

In partnership with Azalea’s API Market, healthcare organizations can acquire entry to pre-approved third-party purposes, together with PatientPay’s platform, which seamlessly integrates with the Azalea system. This integration permits customers to streamline their billing processes with minimal setup, leveraging the “SMART on FHIR” API for quicker implementation and diminished interface configuration time. By incorporating PatientPay into their programs, organizations profit from:

– A simplified billing expertise for sufferers.

– Sooner self-payments and better bill conversion charges for suppliers.

– Fewer days in accounts receivable and fewer write-offs on the stability.

– Diminished assortment prices by eliminating inefficient, paper-based processes.

Integrating these superior billing options can considerably enhance monetary efficiency and make sure the long-term viability of rural healthcare organizations.

“We’re excited to associate with Azalea Well being,” stated Tom Furr, CEO of PatientPay. “It’s no secret that Azalea Well being is the most effective associate to assist neighborhood and rural suppliers tackle the distinctive challenges of immediately’s turbulent market. Our new partnership will assist their purchasers transfer the needle on total monetary well being to allow them to proceed to ship important care to their communities.”