Patient Billing is Broken
Regardless of how
your business delivers bills,
it is painful for the patient.
Significant challenges face hospitals, physician groups, specialty groups,
billing vendors, and early out vendors:
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Encounter vs. account-based billing
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Multiple billing vendor coordination
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Ineffective patient engagement
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Late presentation of financing options
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Rushing to collections
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A scenario where more labor does NOT solve the problem
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A focus on internal accounting processes instead of patient needs
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A large volume of small balances
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10X more cost collecting from patients versus recovering insurance dollars
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Ineffective, paper first, monthly mailings without digital personalization of send time, channel, message, or patient type
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Inability to coordinate bills, consolidate bills, and offer transparency on total patient liability
This has a drastic impact on
patient experience, operating expenses, & profit.
We Re-Invented Patient Billing
Personalized patient experience
+ Autonomous billing operations
+ Artificial intelligence platform
= Higher customer satisfaction
+ Decreased operating costs
+ Increased payments
For:
Hospitals
and
Facilities
Physician & Specialty Groups
Billing and
Early Out Vendors
What Our Clients Say
We have seen faster cashflow, higher turnover (paid in full) of patient accounts, quicker account resolution, a drastic reduction in cost of paper, and no phone calls.
Our IT group had hardly any work to do.
No heavy lifting, delayed schedules, or worries at 2AM. The change was smooth, and IT had only positive feedback.
There is no need for employees to touch
the system.
It just works.
We drastically reduced
the labor needed for billing operations.
Personalization Matters
We don't just digitize bills or text links.
We consolidate, optimize, and personalize communications to improve
the patient financial experience.
Patient Payment Trends
Patients need better, more convenient ways to pay their bills and interact with the healthcare system.
Source: KLAS Research, 2021
The provider payments survey found that 77% of providers wait more than a month to collect any payment.
Source: AJMC, 2019
Patient healthcare costs – including both deductibles and out-of-pocket maximum payments – have increased by almost 30% percent since 2015.
Trusted Industry Leadership
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Management team with 70+ years in healthcare
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100% of clients claim proven results for increasing patient satisfaction, reducing operating costs, and lifting receivables
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World-class expertise in revenue cycle management
2,000,000+
Patient Communications Sent
600+
Provider Locations
6000%
Growth in 2021
Designed for a Zero Headache Implementation™ and Immediate ROI
We designed and engineered our solution to deliver on a clear commitment—the Zero Headache Implementation™.
ROI is realized within a week of go live. How?
Paper costs are cut on day one.
We know this is a big commitment. Of course, our prospects are skeptical, but our customers are amazed.
Straightforward Implementation
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Low cost, low time, low effort, low risk, and high quality
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Simple, standardized data import
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Configurable communication templates and workflows (predesigned and tested for market leading performance)
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Integrate your merchant processor (or use ours)
"Turning Vantage on was more like an onboarding process. It was clean, simple, and no fuss.
Honestly, it was the easiest implementation I've had in my software career, and I touch about 25 systems."
— Business Systems Lead,
Billing Operations
How it Works
The Simplest Mobile Bill Pay UX Anywhere
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Customizable logo and fields
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No hassle, multi-factor authentication
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One-click payment
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Integrates with existing merchant accounts, financing options, and auto-pay functions (or use ours)
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No Android, iPhone, or portal identity integration needed
The Vantage Cloud
In simple terms:
1) We grab your data and connect it to consumer insights,
2) Score the patient (consumer) and predict the best pathway,
3) Assign a unique pathway for the best messages, channels, and timeframes to communicate.
Automated Data Management
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We start with patient financial data and automatically import it.
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Then, we clean, validate, deduplicate, and consolidate bills for each guarantor.
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Lastly, we enrich with 3rd party data to improve risk & results.
Intelligent
Prediction Engine
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Our system uses the data to run intelligent payment predictions.
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It segments and scores patients based on different profiles then assigns them to a pathway.
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This increases the likelihood to pay in a timely manner.
Personalized
Financial Pathway
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Patients are queued into a personalized financial pathway.
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Time, day of week, age, amount owed, and other variables define each pathway.
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The patient begins to receive personalized bills & related media.
Security &
Compliance
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Supports the Health Insurance Portability and Accountability Act (HIPAA).
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Supports Payment Card Industry security compliance (PCI).
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Supports the Telephone Consumer Protection Act (TCPA).
Automated Operational
Reporting
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Key, top-level metrics are reported on a daily basis.
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Other metrics are fed back into the artificial intelligence platform to automatically improve results.
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The system continuously tunes the outcomes to improve results.
Easy to Operate
The Vantage application was designed and engineered to run with NO administrative burden.
It just works, improving metrics as it runs. No additional headcount. No extensive training or certification.
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Automatic, daily data refresh
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Autonomous metrics improvement
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No administrative burden
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Drastically reduces FTE focus on manual labor with human error
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No extensive training or certification.
Expected Business Outcomes
Our clients have proven results for
increasing patient satisfaction,
reducing operating costs,
and increasing payment velocity and volume.
Patient Experience
Improvements
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Increase in:
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Brand Loyalty
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Customer Satisfaction
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Customer Lifetime Value
-
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Ease of Use to Pay
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Consolidated Billing
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More Effective Patient Touches
Operating Expense
Improvements
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Pay Plan &/or Auto-Pay Enrollment
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Reduction in Ops Costs:
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Paper and Postage
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Patient Phone Calls
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Recruiting Costs
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Employee Turnover
-
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Low Cost Implementation
Profit
Improvements
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Cash Flow and Operating Capital
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Speed of Recovery and Collections
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Volume of Recovery and Collections
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Reduced HCAHPS Penalties
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Reduced Risk/Compliance Costs