The news from Washington D.C. this week that a bipartisan effort is underway to increase healthcare price transparency and lower costs was quite timely and sure to be a topic of discussion at the 2018 AMGA conference in Phoenix, AZ. Couple that news with the recent TransUnion Healthcare analysis that revealed patients experienced an 11% increase in average out-of-pocket costs during 2017, rising from $1,630 in Q4 2016 to $1,813 in Q4 2017 and you have the perfect storm for an in-depth discussion on adopting modern patient revenue cycle tools to address the rising level of patient payments in healthcare. That's where we at Health iPASS enter the picture.
We are redefining the patient revenue cycle for many medical providers across the U.S. by fundamentally improving the patient experience from appointment to final payment. We accomplish this through our innovative patient revenue cycle technology that assures patients are empowered and accountable for their portion of the cost of care through a simple, user-friendly experience. Our solution has helped our provider partners to realize 90 - 95% patient net collection rates. lower denials by over 50% and have been instrumental to significantly reduce the cost and time to collect.
If you have been on the fence about investigating the adoption of a patient revenue cycle technology, I can't stress enough that now is the time to act. Expect to see patient out-of-pocket expenses to continue their rise and become more difficult to manage in the absence of a technology like Health iPASS. Stop over Booth #705 and say hello to myself, Mark, Imran, and Rajesh. We are excited to understand more about your unique patient revenue cycle challenges and demo our solution so you can see firsthand how it will benefit your practice. Our mission is to get you on the right path to address the patient payment phenomenon that is paralyzing providers without a plan in place.
We hope to see you at the 2018 AMGA Conference!
P.S. - You may have noticed our logo has a new look and feel...stay tuned for a special announcement next week with more information!