VisitPay helps Inova build trusted financial relationships with their consumers
Inova Health System wanted to improve the patient experience throughout the revenue cycle, while also gaining flexibility to meet their changing needs and improving payment rates. They turned to VisitPay to complement their Epic strategy and accomplish these outcomes, with an understanding that when patients are happier, payments increase, bad debt is reduced, and administration costs go down. As Inova’s VP of Revenue Cycle Liz Ward said, “Using VisitPay allows us to provide an excellent patient experience and revenue cycle, while delivering better outcomes in terms of collecting both short-term and long-term obligations.”
- $2.6B not-for-profit health system
- Located in Falls Church, Virginia
- 5 hospitals + outpatient facilities
- Deployed VisitPay in 2018
Increasing understanding and outcomes through segmentation
Inova knew the value of better understanding their patients. By adding VisitPay’s ability to apply smarter segmentation strategies with the data they already had about individual patients, they were able to customize interactions for every patient. They are using this information to better understand individual patient circumstances and to focus resources on the patients who will benefit most from being contacted by the health system, rather than reaching out to everyone.
Everyone wins with a consumer financing approach
Other industries have been providing consumer financing programs for a long time. Healthcare is long overdue in bringing flexible financing options to patients. With patient obligation steadily increasing across the industry, Inova decided to use the VisitPay platform to provide their patients with the ability to better understand their bills, and the financing tools and solutions to meet those obligations.
Healthcare is not a cookie-cutter industry
While healthcare is the most regulated industry in the country, each provider ecosystem is unique. Inova knew that the ability to make changes to their own environment, in an agile way, was essential. With VisitPay, they have the freedom and flexibility to make necessary changes to ensure regulatory compliance without being constrained by scarce IT resources–and without breaking the bank or the system.
Read more: 5 Key Implementation Takeaways >