COMPASSIONATE PATIENT FINANCIAL ENGAGEMENT

Patient Financial Care

A system that heals the body but harms the patient financially is not fully delivering care.

Coming soon!

Patient Financial Care is not just a new service line, it’s an entirely different way to think about self-pay. Most of the industry treats self-pay as a collections problem. We believe it’s a system problem.

Patient Financial Care is the final phase of care, where financial resolution is handled with the same rigor as clinical care, ensuring patients are supported and guided to the right financial outcome without harm.

When Salud steps in…

Patient balances
are confirmed as
accurate.

Patient communication and payment preferences are met.

Patient loyalty and satisfaction are increased.

CASESTUDY

Challenge

A patient accounting system conversion at a regional referral center in the Midwest left self-pay statements going out long after final service, with patients getting billed prior to insurers. Patient complaints had risen, requiring more staff levels to field those calls. Aged AR and bad debt reserves were increasing. The client wanted to get 50% of all self-pay patients onto a payment plan within a year.

Solution

PayVow was put into play. Patients are now referred to a financial aid program and offered a payment plan. Three of every five self-pay patients take the deal.

Results

39% collection rate
58% accounts paid in full
$916,000 in monthly collections

COLLECTION RATE

39%

ACCOUNTS

PAID IN FULL

58%

IN MONTHLY COLLECTIONS

$916K