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While patient pay receivables represent just 4% of today’s healthcare total billing, current statistics show a whopping 49.2% of patient co-pay receivables of this 4% are being written off as bad debt due to failed collections!
With Consumer Directed Healthcare on the rise, providers must prepare for the shift insurance companies are now implementing as more payment responsibilities will converge on patients through co-pay & deductible participation.
Where does the shift in payors leave healthcare providers? And where’s the bottom line when patient pay receivables which are anticipated to grow from today’s 4% to nearly 20% by 2015 leave providers?
The facts are if healthcare providers fail to prepare for what’s ahead, the current 49.2% healthcare mountain of patient co-pay bad debt will be dwarfed by what’s on the horizon. Thus the time to act decisively is now!
To ensure healthcare financial profitability, 1st Choice Funding brings to the table an innovative method to bridge the challenges this formidable task is creating through our “No Risk” Funding Solution.
2008
49.2% Bad Debt Losses
2015
Are You Prepared?
In partnership with QPS/mPay, 1st Choice Funding brings our “No Risk” Co-Pay Funding Solution with proven results to the table. Through an integrated web based portal, a seamless system estimates, authorizes, processes and reserves patient co-pay commitment before patient services are provided plus....
With just one click healthcare providers settle the EOB transaction, reserve the funds until insurance confirmation verifies the amount due, and then completes the process by depositing the funds in the banking facility of your choice.
Like a hotel check out process which processes the anticipated funds reserved which were confirmed before check-in, “No Risk” Co-Pay Funding Solution eliminates nearly 100% co-pay bad debt losses through this seamless, tested, cost effective solution while it eliminates co-pay collection costs, bad debt charge offs and collection risk!
For a low monthly lease healthcare providers are protected through this innovative opportunity while absorbing no
out of pocket expense for set-up, PM integration, training & implementation. Eliminate CDH Bad Debt with The “No Risk” Co-Pay Solution!
To Estimate Monthly Leasing Click Here:
Co-Pay Lease Estimator
For a “No Risk” Co-Pay Application Please Click Here:Co-Pay Application
For a Healthcare Provider's Integrated Experience Please Click Here: Co-Pay Integration
For An Independent White Paper Report on Consumer Driven Healthcare Please: Click Here for a CDH Report
mPay Co-Pay Funding Solution is Endorsed By:
The IPA Association of America (TIPAAA) The leading Trade Association for Independent/Integrated Physician Associations: For TIPAAA Click Here
PMS MedStar For the Medstar System Click Here
The National Medical Association (NMA) recently voted to endorse the QPS/mPay solution. They represent 30,000 Physicians across the country. For the NMA Click Here
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