In an article posted April 19th, 2018 based on an interview with Health iPASS CEO Rajesh Voddiraju, Crain’s Chicago Business senior reporter John Pletz asks the question, “How much will you owe for that doctor's appointment?” This very question is what drove Rajesh to found Health iPASS after his own family was faced with medical billing frustrations due to a lack of clarity in the patient collection process.Read More
It’s mid-April, and spring is in the air. People love spring because it’s a time of renewal. Folks can walk down the same old street, but there’s a new sweetness in the air that makes them feel awake and alive. That’s why spring is the perfect time for us to introduce our new Health iPASS branding initiative.Read More
Millennials, millennials, millennials. Am I right?
It’s pretty much impossible to live in the U.S. today and not hear about how the generation known as “millennials” are changing everything from the way we eat and drink, to real estate markets, to the very shape of the U.S. economy itself. As you may know, millennials are expected to overtake Baby Boomers in population by 2019, and Generation Xers are expected to surpass Boomers in population by 2028.
"If everyone is moving forward together, then success takes care of itself." --Henry FordRead More
One of the most important aspects of a successful healthcare organization is effective revenue cycle management. Although in the past, patient accounts were managed primarily by bulky paper files, the 2009 HITECH ACT now mandates they are stored electronically. Electronic health record systems can make the work of billing and payment more efficient, but many are not set up to fit the new dynamic in health care-- addressing the patient as a payer. Therefore, these revenue cycle systems can still fall short in making sure patients are both empowered and informed about the cost of care, limiting their ability to become smarter healthcare consumers.Read More
Very excited to announce the good news that Sudhakar Ramakrishna has joined the Health iPASS Board of Directors! Mr. Ramakrishna brings a strong track record of developing Silicon Valley technology companies along with deep experience launching client facing technology products.Read More
Topics: The HealthiPASS Solution
The following guest post was submitted by Jason Meyer, CEO of Frost-Arnett. For more information on the Frost-Arnett/Health iPASS partnership, please click here.
The proliferation of high deductible health plans (HDHP) has resulted in a dramatic increase in the amount of healthcare that is paid directly from the patient. Per The Kaiser Family Foundation, a nonpartisan think tank, in 2016 the average deductible was $1,478, up 49% from 2011. Further, it is estimated that 25% of Americans now have high-deductible plans and there is no signs of that slowing down. As the out-of-pocket portion of the overall healthcare bill has increased dramatically, so has the amount that healthcare providers write off and end up in the bad debt setting. This has CFO’s, Directors of Revenue Cycle and Physician Practice Managers looking for alternative ways to collect more from their patients at the time of service.
With over 125 years of experience, Frost-Arnett is intimately familiar with the issue of collecting patient balances and the growing issue it is presenting our clients. As such, we continually monitor the marketplace for alternative ways we can help our clients improve collections, reduce accounts receivable outstanding and increase cash flow. We were very intrigued by the Health iPASS solution from the moment that we met Rajesh and his team. The front-end of the healthcare system – especially in the physician practice setting - has been historically very inefficient in collecting the patient portion.
Typically that position is staffed by someone who has likely not been with the practice for a long time, has no incentive to ask for co-pays or past due balances and typically has not been trained to handle that process efficiently. Additionally, often the technology for the practice to estimate the patient pay portion of their bill is not present at the time of check in. So the point of service is not equipped to estimate and collect that amount at the time of the visit.
Topics: Patient Check-in, Revenue Cycle Management, Point of Service Payments, Patient Consumerism, The HealthiPASS Solution, Patient Check-In Kiosks, Patient Debt, Medical Billing, healthcare payments, patient pay
Wikipedia defines the term "bootstrapping" as:
"...starting a business without external help or capital."
Our Founder and CEO Rajesh Voddiraju is the perfect model for bootstrapping having started HealthiPASS with his own capital as a direct response to his own personal experience with the often confusing and complicated healthcare patient billing process. Over three years later and following a second round of funding, HealthiPASS has evolved into a revenue cycle efficiency trailblazer that is fundamentally changing patient revenue collection in healthcare with an intuitive, transparent, patient-centric solution that virtually guarantees payment.
Rajesh was invited by the online investment network tastytrade to speak about the mission and vision of HealthiPASS to help healthcare providers prevent denied claims, increase patient revenue collection, and promote cost transparency. Listen to the full interview below:Read More
Topics: The HealthiPASS Solution
CHICAGO – December 6, 2017 – HealthiPASS, a patient check-in and payment technology provider that helps patients and providers combat the new healthcare reality of higher patient out of pocket expenses, announced it has raised a $7.2 million Series A funding round, led by FCA Venture Partners, with participation from venture firms from the Bay Area to Boston including: OCA Ventures, Healthy Ventures, HealthX Ventures, Waterline Ventures and a small group of strategic investors. The funds will be used to further innovate and expand the patient payments platform and sell into ambulatory healthcare settings across the country.Read More
There have been many takeaways to process and many people engaging with us since MGMA ended on November 2, but we’re finally catching up, and ready to share our experience from arguably the most important industry gathering of the year!
The conference featured hundreds of medical practice executives, administrators, physicians, vendors, industry experts and speakers, which gave us an invaluable opportunity to interact with some of the most influential people in healthcare.