Wixom, Mich., – RevSpring Inc., a communication and payment solution provider, announces the official release of its Charity Scoring solution, the first in the RevAnalytics suite of products for hospitals and health systems.
The new service gives healthcare revenue cycle management professionals a way to determine a patient’s eligibility for financial assistance at any point in the revenue cycle. With this additional insight, healthcare organizations can be more financially strategic when communicating to these patients – applying specific business rules and workflows to complement RevSpring’s communication and payment platform.
Using patient demographic information, RevSpring’s charity score product helps healthcare organizations comply with 501 (r) Section 6, a new IRS regulation under the Affordable Care Act. Additionally, the score has shown to significantly reduce bad debt by up to 30% for health systems.
Unlike traditional analytic solutions, RevSpring gives hospitals significant flexibility during implementation. Hospitals choose when to run the score within the revenue cycle, what variables the score will use, and what business rules and workflows to create based on the score. The product was developed to plug seamlessly into a hospital’s existing revenue cycle processes with minimal or no disruption.
“Traditional analytics solutions in the healthcare industry have required significant changes to process and technology infrastructure on the front end,” said April Wilson, RevSpring’s director of analytic products. “We’ve designed our analytic products to be nimble. The proprietary processes get you launched quickly, with minimal to no process changes.”
The Charity Score, like other services within the RevAnalytics product suite, is designed to optimize patient communication and drive faster response times. “We’re passionate about helping hospitals engage their patients,” said Wilson. “Analytics lets us leverage data to make sure healthcare organizations communicate to the right patient, with the right message, in the right channel.”
For more information about RevSpring and its RevAnalytics products, please visit:http://revspringinc.com/healthcare.
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.