Healthcare administrative costs are set to increase by roughly 10 percent over the next few years due to the growing complexity of clinical data, according to McKinsey Quarterly, a business journal of McKinsey & Company. Collecting accurate patient data, verifying insurance and collecting payments will continue to be critical for the success of medical practices.

 

Collections are a particularly challenging issue in today’s trying economic times, with patients often facing reduced income and higher medical expenses. A study conducted by the Medical Group Management Association (MGMA) found that 30 percent of patients leave their clinician’s office without making any payment, and that it takes practices an average of 3.3 billing statements before a patient’s outstanding balance is paid in full. The MGMA study also reports that practices wrote off an average of 11.3 percent of total accounts receivable in the 2010 fiscal year.

 

The use of an electronic check-in system called Phreesia is simplifying one of healthcare’s most essential functions – gathering patient information. Phreesia is helping clinicians nationwide improve their productivity, streamline workflow and increase cash flow. The system is also able to collect meaningful use data and administer clinical scales.

 

 “Our solution replaces the traditional clipboard with a wireless, touchscreeen kiosk called the PhreesiaPad, which allows practices to effortlessly collect patient information and consent, electronically verify insurance and collect payments at the point of care,” said Natasha Petrovic, channel manager for Phreesia, a leading patient check-in company founded in 2005.

 

“More than 10,000 clinicians nationwide are checking in a quarter of a million patients each month with a PhreesiaPad," Petrovic said. “The use of Phreesia is growing among practices in South Florida.”

 

Upon arrival at a healthcare facility, patients receive a PhreesiaPad and begin an automated ‘electronic interview’. As a result, the clinician receives legible documentation that captures patients’ medical history, demographic and real-time insurance data. Electronic signatures are collected on all practice policies and Health Insurance Portability and Accountability Act (HIPAA) contracts. Returning patients verify, rather than re-enter, their information.

 

Insurance coverage is verified automatically before each patient sees a clinician. Patients are prompted to pay their co-pay and any open balances by swiping a major credit or debit card right on the Phreesia pad in the waiting room.

 

“Phreesia is a tool that increases and changes the culture of collections in a practice,” Petrovic said. “Often, practices are reluctant to enter into conversations with patients about financial responsibility, and most do not pursue payments aggressively,” she said. “Phreesia’s instant payment maximizes revenue potential and gives the patient an opportunity to pay privately and securely.”

 

Practices using Phreesia are seeing an average increase of 7-13 percent in collections and saving about 5-10 minutes per patient during each check-in. Patients are also pleased with Phreesia – surveys show that the service rates above 80 percent for ease of use.

 

Patient information is securely stored on Phreesia’s secure servers and accessed online through the practice’s [Phreesia] dashboard. The Phreesia Dashboard allows practices to easily access, track and organize patient check-in information.

 

“Phreesia offers 24-7 tech support,” said Petrovic. “We provide a dedicated trainer and project manager for the first eight weeks after going live. The practice receives as many PhreesiaPads, routers and chargers as necessary to meet patient volume. We are 100 percent HIPAA and Payment Card Industry (PCI) compliant.”

 

To consistently develop and improve its service, Phreesia has ongoing relationships with prestigious medical and educational institutions, and receives continuous feedback from its rapidly growing network of medical practices.

Many practices across Florida have seen excellent results with Phreesia. A Tampa skin and cancer center found that co-pay collections have increased by over 50 percent, and the office staff no longer spends multiple hours per week manually logging in the day’s transactions.

 

“Using technology such as Phreesia’s electronic check-in system, combined with best practices for workflow, healthcare facilities can streamline their operations and focus more on patient care,” said Petrovic.

 

 She noted that Phreesia adds value to the dollars many practices are spending on merchant processing fees by providing an entire system designed for medical practices that will help automate procedures and increase collections.

 

The exclusive payment processor for Phreesia is Elavon, a wholly owned subsidiary of U.S. Bancorp and a leading global payments provider. Elavon provides end-to-end payment processing services to more than 1.2 million merchants in North America, Europe, Mexico and Brazil.