BOISE, Idaho, April 3, 2019 /PRNewswire/ — VisitPay announced that Henry Ford Health System will implement its financial platform, which helps patients meet their medical billing obligations and provide health systems with capabilities to boost patient satisfaction and yield.
“As we move to enhance our transparency and patient experience, this platform will allow us to offer our patients the convenience and flexibility to manage their out-of-pocket medical costs,” said Kevin O’Neill, Vice President of Revenue Cycle for Henry Ford.
VisitPay’s proprietary scoring and segmentation capabilities and advanced analytics will give Henry Ford evidence-based insights into their patients’ preferences and expectations in the billing process.
Patient confidence and control are bolstered by a crisp interface that displays a comprehensive accounting of payment transactions, balance due and other critical healthcare information. VisitPay also offers a full menu of engagement options for patients who prefer to resolve their obligations outside the portal.
VisitPay clients typically report a 30% lift in payment yield and a 70% increase in patient satisfaction. These results are validated by VisitPay’s ability to provide ongoing measurements of financial plan performance, trended over time. This empowers health systems to adjust and optimize multiple variables in near real-time.
Building on VisitPay’s unique ability to present EOB information within its patient portal, Henry Ford plans a deeper integration for members insured by the health system’s Health Alliance Plan to further differentiate and improve the consumer financial experience.
“Henry Ford is one of the country’s preeminent health systems, and its inspiring vision—’Transforming lives and communities through health and wellness—one person at a time’—was embraced by the entire VisitPay team,” said Kent Ivanoff, CEO and Co-Founder of VisitPay. “We are excited to play a key role in their patient-centered mission to deliver a personalized and empathetic experience to every member of the communities they serve.”
Learn more about VisitPay at www.visitpay.com.
Founded in 2010, VisitPay is the leader in patient financial engagement. The company’s cloud-based platform is used by the nation’s largest and most innovative health systems to deliver transparency, choice and control to patients managing healthcare payments and transactions. Through VisitPay, patients can access a comprehensive accounting of their financial obligations, as well as critical health plan and healthcare information, via a health system-branded portal. VisitPay’s proprietary analytics tailor consistent and fully compliant financing options that meet the unique needs of patients and their families, creating a simplified billing experience that drives both higher payment rates and improved patient satisfaction scores. VisitPay’s investors include Norwest Venture Partners, Flare Capital Partners and Ascension Ventures. For more information about VisitPay, visit www.visitpay.com. Follow us on Twitter and LinkedIn. Visit our Company Blog to access case studies, thought leadership and news.