Wixom, MI –RevSpring Inc., a leading communication and payment solution provider, has teamed with Experian Healthcare to launch its new Propensity-to-Pay Scoring solution.
Propensity-to-Pay scoring allows healthcare organizations to customize and automate patient communications based on a patient’s likelihood to fulfill their financial obligations. RevSpring combines the Payment Score with its powerful business rules engine to streamline a smarter patient communication workflow.
Similar to its Charity Scoring product, RevSpring’s Payment Score is designed to work within a hospital’s existing revenue cycle processes. Unlike other analytic solutions, the RevAnalytics product suite offers flexibility, with multiple communication options based on the business rules set by the hospital.
“Accuracy and having a consistent financial approach is so important to our clients,” said April Wilson, Director of Analytic Products at RevSpring. “The Propensity-to-Pay score can identify patients that are unlikely to pay and help route the patient’s financial experience accordingly.”
By identifying at-risk patients earlier in the revenue cycle, health systems can assign financial counselors and define their payment terms faster. This helps ensure internal efficiency and that patient accounts are handled consistently, without bias. When the Payment Score is merged with RevSpring’s print and electronic communication platform, healthcare organizations can automate follow-up communications based on a real-time estimation of the patient’s financial situation.
“With all of the changing regulations that our clients face, having easy-to-use workflow solutions just makes sense,” said Wilson. “Any time we can use analytics to help with that, it’s a win for both the hospital and the patient.”
RevSpring facilitates over one billion customer interactions annually. It serves a large and diverse customer base across the healthcare, receivables management, financial services, home services and other end-markets. Its core service offerings include data hygiene and analytics, secure document creation and delivery, multi-channel communications, electronic billing and archival services and online payment tools, all while ensuring compliance with regulatory guidelines.
RevSpring was formed by the merger of DANTOM Systems, PSC Info Group, Data Image and BestBill.