While over 1,000 hospitals trust MEDITECH to make business and clinical processes more efficient, the one area where MEDITECH hospitals often come up short (and often without the knowledge of hospital executives) is in the area of self-pay recovery.
“MEDITECH Hospitals struggle with self-pay recovery, an accounts receivable segment where balances have increased significantly in recent years,” says Bryan Healy, Managing Principal and Co-Founder of CaptureNet. “MEDITECH does not natively address these challenges.
Fortunately, CaptureNet, a fully-integrated self-pay solution rooted in analytics and workflow automation, offers custom integration with MEDITECH to enable hundreds of MEDITECH hospitals to quickly recover a greater percentage of their patient responsibility balances, averaging a 26% increase above its MEDITECH clients’ historical recovery rates.
“We Didn’t Know What We Were Missing!”
Nicole Clawson, VP RCM Twin Tier Hospitals, of Kaleida Health is not one to shy away from trying new things. Even though she was pleased with the performance her self-pay recovery provider was delivering, she was willing to explore the benefits CaptureNet could provide to her hospital.
“They told me we could expect to recover an increase of 5 to 25% more from our self-pay recoveries following implementation. My initial thought was ‘no way!’ but I was convinced to give them a shot. They did just that and more…in just the first five months, CaptureNet has already improved recoveries 33% above our historical performance — exceeding all expectations!”
There Is No Burden for Your Existing IT Department
“The implementation of CaptureNet with our existing MEDITECH system was a breeze,” says Nicole. “Anytime we adopt a new technology we brace ourselves for the thousands of dollars of unexpected additional expense that no one saw coming. We expect the implementation to be a drain on our IT Department. This was not the case with CaptureNet. The implementation of CaptureNet and its integration with MEDITECH was seamless and required no staff commitment from our internal IT department.”
“Hospital IT Departments are overburdened these days,” explains Bryan. “We know they don’t have time or resources to implement new products swiftly. This burden diminishes ROI and often prevents hospitals from implementing solutions that could significantly improve their business.” The seamless integration between MEDITECH and CaptureNet doesn’t require significant time from the hospital’s IT resources.
CaptureNet takes care of the data needs and removes the burden from the IT department so all the hospital sees is results.
“CaptureNet makes me smile.”
Nicole offers this advice to hospital executives who have found comfort with the status quo: “You have to be open-minded that the lofty objectives CaptureNet will show you in their presentation are achievable.” All of Kaleida Health’s Twin Tier facilities have achieved significant recovery improvement since implementing CaptureNet in early 2018.
The benefits the integrated solution has provided to Kaleida Health are not limited to improved recoveries. “The operational efficiencies we gained with CaptureNet makes me smile,” explains Nicole. “Our cashiering process is much more streamlined. What were once manual processes are now much more automated. Communication with our billers has improved. We used to make a lot of phone calls. Those calls are no longer necessary, which has freed up a lot of staff time. CaptureNet provides us with the opportunity to provide financial counseling assistance to our patients who need that. They help us help our patients identify health insurance coverage they may not have even known they had. Our statements are clearer and our patients have not once complained about them. CaptureNet’s sophisticated reporting has been one of the biggest advantages. Client facing Business Intelligence Dashboards let us drill down and report on details we never considered in the past.”
To see how CaptureNet can improve your self-pay recoveries, contact us to schedule a consultation.