The Revenue Maximizer Improves Cash Flow for Health Care Providers, Medical Facilities & Hospital’s, Reduces Patient Receivables, Reduces Patient-Pay Bad Debt Sector, Presently at 49.3%, By Up to 90% and Reduces Costs Associated with Patient Billing and Collections
(PRWEB) April 2, 2010 -- Medical Pay Solutions, a national patient revenue management consultant firm, announced an alliance enabling them to bring the Revenue Maximizer to the health care industry.
Thie Medical Pay Solutions alliance with TransEngen, Inc enables Medical Pay Solutions to bring a solution, the Revenue Maximizer, to health care providers, nationwide, that is dramatically increasing cash flow and reducing costs associated with prolonged patient billing and collection cycles and collecting patient out-of-pocket expenses. Medical Pay Solutions offers this proven solution, the Revenue Maximizer, to medical practices, clinics, laboratories, facilities and hospitals across the nation. This technology drastically streamlines direct-to- patient billing processes, lowers collection costs and reduces patient bad debt. Further, the Revenue Maximizer accommodates patients, whose out-of-pocket responsibility continues to grow and self-pay patients. Patients are pleased because they no longer have to put off their follow-up treatment and preventative healthcare visits.
“By adding the Revenue Maximizer technology to our list of recommended products, we feel we bring the most state-of-the-art and effective method of helping our clients with the very real problem of collecting the patient-pay portion efficiently; the monies owed directly from patients for their health care” said Anthony Wunsh, CEO of Medical Pay Solutions. Medical Pay Solutions conducted an in-depth research on the Revenue Maximizer prior to agreeing to represent and support the product. What was discovered is, it is by far the most advanced, simple-to-use technology available in the market today that addresses the very real pain that health care providers are experiencing while attempting to manage their patient pay receivables.”
The Revenue Maximizer is a state of the art, innovative, web-based technology that delivers immediate process improvements. It enables health care providers to instantly verify, in-depth and current, patient insurance eligibility and estimate what patients owe, while still in the office, at the point of care. The program generates a patient-friendly statement to present to the patient; a Pre-EOB. It clearly displays what the patient is responsible for and it displays what the insurance is responsible to pay. This eliminates any patient confusion. It provides a payment portal processor that processes all electronic payments, i.e. checks, ACH and credit/debit cards. Health care providers can collect payment at the point of care and/or arrange for automatic and pre-authorized payments after the patient’s insurance has paid, or they can set pre-authorized and automated delayed or budget recurring payment plans that are interest free; thus allowing patients to pay larger balances over a mutually agreed upon timeframe, weekly, monthly or quarterly. All of this is accomplished while the patient is still in the office, not weeks or months later.
The Revenue Maximizer enables health care providers to focus on the care of their patients for the lowest possible cost. This program offers many time and cost-saving features. For added flexibility and efficiency, health care providers can easily import patient demographics, organize patient payment history and export daily transaction reports into their practice management or patient accounting systems.
This alliance between Medical Pay Solutions and TransEngen, Inc. expands the distribution of the Revenue Maximizer product and its’ innovative technology. Medical Pay Solutions has a nationwide team of health care consultants within the health care industry that is helping them overcome the very real challenges associated with delayed or unpaid patient responsibility payments.
About Medical Pay Solutions
Formed in 2009, Medical Pay Solutions is a revenue management consulting firm with over 140 consultants nationwide. Medical Pay Solutions is dedicated to helping patients and health care providers resolve the issues associated with rising health care costs and patient pay sectors losses. By providing this innovative technology across the nation, Medical Pay Solutions, via the Revenue Maximizer, is leading the transformation of the healthcare payments process, providing valuable new functionality at nearly every transaction stage of the process and delivering real time information at the point of care, while the patient is still in the office. Visit: www.MedicalPaySolutionZ.com for more information.
Formed in 2006, TransEngen is comprised of a group of professionals within the healthcare, insurance and IT communities who have an ambition to solve the growing patient pay issues. The result is the creation of the Revenue Maximizer, a robust “Patient Pay Revenue Management System”
Summary of the Revenue Maximizer Features :
Deborah Greco-Canchola, Medical Pay Solutions
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