AccuReg and DivDat Partner to Incorporate Payment Processing and Real-Time POS Collections Performance Tracking into the AccuReg Revenue Cycle Suite
AccuReg Front-End Revenue Cycle Solutions, provider of solutions that empower patient access to drive revenue cycle results, are announcing an agreement with DivDat Healthcare Solutions, provider of revenue cycle management and communications. This agreement enables AccuReg to incorporate payment processing through DivDat into the AccuReg Revenue Cycle Suite, providing hospitals with a full solution to estimate, collect, and process patient payments prior to service, and real-time visibility into detailed POS collections performance statistics at the employee, location, facility, region and/or system level. AccuReg and DivDat are providing a fully integrated payment suite utilizing DivDat’s AccelpayTM Payment portal for real time payment processing, payment plans and comprehensive reporting. The DivDat portal solution is also available for Providers to use as a standalone product for patients to log in and manage and pay their accounts in a fully branded PCI compliant environment.
Providing patients with liability estimates prior to service enables patients to make informed decisions about their care and plans for payment. According to industry statistics, hospitals have a 70% chance of collecting from the patient prior to service and only a 30% chance of collecting from the patient after service. To optimize revenue and minimize cost-to-collect, hospitals must move as much of the collections process to the front end of the revenue cycle as possible. By incorporating DivDat payment processing into the AccuReg Revenue Cycle Suite, not only can hospitals move most of the collections process prior to service, they will also have vastly improved visibility into POS collections performance metrics.
Results of the 2012 Registration Benchmark Survey by AccuReg indicate that most hospitals lack real-time automated POS collections reporting tools and have to put together manual reports. By incorporating DivDat payment processing into the AccuReg Revenue Cycle Suite, key POS collections performance metrics, such as Point-of-Service (POS) Cash Collections (HFMA MAP key) and POS Collection Opportunity Rate (dollars collected versus dollars estimated) can be tracked and made available in dashboards and real-time or scheduled reports that can be filtered by employee, location, facility, region and/or system so that performance can be assessed at many different levels. “Putting real-time POS collections reports and dashboards into the hands of patient access and revenue cycle leaders is powerful. Hospitals utilizing the AccuReg Revenue Cycle Suite can quickly see what percent of the estimated patient liability they have actually collected and can identify opportunity areas for improvement,” said Paul Shorrosh, CEO of AccuReg.
AccuReg will also incorporate DivDat’s payment processing into AccuReg PRO, (Pre-Registration Outsourcing), utilizing DivDat’s Accelpay, so that AccuReg PRO Coordinators can fully pre-register, collect, and process patient payments on behalf of the hospital. Clients will have full and instant visibility into POS collections performance of the AccuReg PRO team.
AccuReg empowers patient access to drive revenue results through a full, integrated patient access suite that automatically performs repetitive registration processes for the registrar, enforces accurate and complete registrations, and frees registrars up to process more registrations per hour and focus their work on high value, human touch activities such as pre-service clearance and POS collections. AccuReg helps hospitals get fully paid in a timely manner whether patients are insured, uninsured or underinsured, with automated solutions that include Eligibility Verification, Patient Payment Estimation, Propensity To Pay, Authorization Manager, ABN Manager, Identity & Address Verification, Financial Screening, Registration QA, Patient Arrival Tracking and AccuReg PRO. Founded in 2005 by a former Business Office Director who solved a real world revenue cycle problem using a patient access solution, AccuReg continues to place extreme focus on providing measureable, patient access-driven revenue cycle results.
DivDat Healthcare Solutions provides a comprehensive platform which enables healthcare providers to effectively communicate with their patients over multiple channels and get paid faster. Those channels include a point of service collection system; patient-friendly statement processing, printing and mailing; and patient payment portals. Founded in 1971, DivDat has been providing innovative account receivable data solutions for over 40 years. We assist clients with more options to get paid through efficient and effective solutions including CSR & Patient Bill Payment Systems, Print & Mail, Healthcare Point of Sale Service Solutions, IVR, Mobile Payments, and Payment Processing Electronic Bill Presentment.