Thank you for Subscribing to CIO Applications Weekly Brief
Patientbond Assists Falck USA Boost Patient Payments And Insurance Reimbursements
Fremont, CA: PatientBond, the premier consumer science-driven patient engagement SaaS supplier, collaborated with Falck USA to collect unpaid patient bills and insurance reimbursement.
Many ambulance rides are not covered by health insurance because fast-moving events make obtaining the information needed to file a claim or collect from patients more challenging.
Falck USA is one of the nation's leading private providers of 24-hour ambulance transportation and 911 ensure reliability, providing basic and advanced life support. One difficulty Falck USA confronts is that many ambulance rides are not covered by health insurance. Crisis scenarios make obtaining the information needed to file an insurance settlement or collect from patients difficult.
Falck USA hired PatientBond to create and implement an SMS/text message-based payment reminder procedure to increase patient payments while decreasing outstanding debts and collection expenses. Patients are sent a series of reminder letters for the next 31 days or until complete payment is made.
Falck USA realized many million dollars in patient payments and insurance reimbursements that would have otherwise gone unpaid in the first ten months of automating digital patient contact with PatientBond. In addition, Falck USA has received a 75-to-1 return on investment due to its efforts.
Justin Dearborn, CEO of PatientBond, explains some of the factors that facilitate this success: “PatientBond conducts extensive market research on healthcare consumer motivations and communication preferences. We design our communications to enhance the likelihood of desired behavior activation, which in this case is paying one's bill through a simple patient payment platform."
Dearborn continues, "These patients and their families find themselves in a stressful situation and paying bills is furthest from their minds. However, when approached afterward with respect and through preferred channels, they are receptive to our outreach."