A rural community hospital – part of a cooperative of five area hospitals – sought to improve efficiencies and manage costs by collaborating to seek and promote best practices. Each hospital – a vital part of the community – is strongly influenced by its board— common among short-term acute care community hospitals. Given the impact of healthcare reform on the hospital’s self-pay accounts receivable, including difficult to manage increases in the number of accounts and dollars billed to guarantors, the hospital could no longer rationalize working accounts internally because of limited resources, no sustainable workflow processes, and increasing patient complaints.
The hospital sought an expert partner, sensitive to community and patient expectations, with the flexibility and technology savvy to customize workflow processes. Because of the paradigm change, the hospital’s CFO requested that CaptureNet meet with its board of directors to explain how changes would affect the hospital’s financials as well as the patient experience. Resoundingly, the board approved the partnership. A local newspaper article was published, extolling the benefit to the hospital and the community, alerting customers of process changes to expect upon implementation of the software and service hybrid solution chosen by the board.
Easy-to-understand, patient-friendly billing statements, an online patient portal for self-service, consistent follow up on all accounts, and additional payment options and payment plans increased net recoveries from self-pay accounts for the hospital by 49%. Consequently, all five hospitals forming the cooperative selected CaptureNet as their vendor of choice.