While most health systems strive to improve the health of communities, there are few who are more devoted to this mission than Carilion Clinic. In fact, in conversations with Brett Tracy, VP of Revenue Cycle, he acknowledges, “We know our patients. We live with them, grew up together, go to the same churches and watch our children play soccer with one another. We’re a part of the community and a part of our patients’ lives.”
Carilion wants to do something different – and better.
This is one of the big reasons I’m excited for VisitPay to work with Carilion Clinic, a seven-hospital system with 225 practice sites and over 13,000 employees, located in Roanoke, Virginia. With changing patient dynamics and increased expectations for consumer-friendly payment options, Carilion wants to do something different – and better.
Using our technology as a key lever, the health system can start having financial conversations with patients that are simple and easy to understand. With a goal to offer consistent, compassionate dialog from arrival to discharge to billing statements, VisitPay will help Carilion deliver a financial experience their patients deserve.
Creating a Seamless Financial Experience for Patients
No one else explains the importance of a seamless financial experience better than Brett: “The impact of rising deductibles and healthcare costs has really hit home for the patients of Southwest Virginia, especially since several larger employers have left the area. Our patients are honest, hard-working people who want to pay their bills. We owe it to them to simplify that process.”
Carilion’s goal is for patients to worry less about medical bills and focus more on getting well.
VisitPay complements Epic, Carilion’s Electronic Health Record (EHR), to create an elegant, best in class financial experience for patients. In our conversations about what that experience should look like, Brett keeps coming back to mobility, flexibility, and clarity. At the end of the day, Carilion’s goal is for patients to worry less about medical bills and focus more on getting well.
Mobile Solution. As lifestyles have become increasingly mobile, Carilion needs a payment solution that patients can access from PCs, tablets or phones. Carilion’s new digital platform will allow patients to sign up for alerts and pay by text. Quickly accessing and paying bills makes it more convenient for their patients to pay.
Clarity. VisitPay connects the dots between a patient’s insurance policy and Carilion’s fees – so they can better understand their benefits and what they know. A consolidated view of medical balances for all family members will help alleviate some of the confusion inherent in healthcare billing.
Flexible Options. The new payment platform will meet Carilion’s patients on their terms, with payment options personalized for when and how they can pay. With larger out of pocket balances, patients need more flexibility to manage their medical obligations.
Measuring What Matters
Carilion wants to improve affordability and access so patients receive needed care without worrying about how to pay for it. By offering personalized payment terms, the health system can monitor payment behaviors over time to fine-tune its payment approach and better meet patient expectations.
“We see this new approach as a vehicle to dramatically impact the way our patients experience Carilion and healthcare.”
Personalized Payment Strategies. Using our technology and staff know-how, Carilion can pragmatically administer unique payment strategies based on financial scoring, payment balances and other financial patterns. This gives patients the option to set up payment plans within the platform that are flexible and tailored to their needs. As the health system deploys options, products and solutions, they can make real-time adjustments to improve the patient experience further.
Brett explains the value in this process, “We do not see bill payment as a one-time transaction or as a means to an end. We see this new approach as a vehicle to dramatically impact the way our patients experience Carilion and healthcare.”
Net Promoter Scores. Carilion can track the success of the new payment approach by measuring patient satisfaction, and specifically NPS, to ensure patients’ needs are met. Carilion wants to benchmark its performance against other industries, not just healthcare, proving their commitment to this initiative.
Delivering on a Mission
Carilion’s desire to become a higher-margin organization is not just for the sake of collecting revenues but for improving the health of the community. By increasing cash flow and decreasing bad debt, Carilion is painting a profitable picture for its future. Better yet, patients get the care they need and the financial experience they deserve.