NASHVILLE, Tenn., April 4, 2017 /PRNewswire/ -- Change Healthcare, a leading provider of software and analytics, network solutions and technology-enabled services, has added two services to its Coverage Discovery solutions: Financial Counseling and Third-Party Coverage Advocate. The launch of these two revenue cycle management services helps providers collect more effectively for their services.
Hospitals and health systems currently spend a significant amount of time and resources having financial conversations with patients, identifying the appropriate funding sources and collecting payment. Change Healthcare's Financial Counseling offers onsite assistance to recruit, hire, train and manage financial counseling professionals to staff pre- and point-of-service interactions with patients. In turn, this allows healthcare organizations' patient access teams to remain focused on revenue cycle tasks and increases the likelihood for greater patient collections at the point of care.
"Better patient care delivery starts with better patient access," said Kristen Coletto, vice president, Financial Counseling at Change Healthcare. "Our goal is for patients to have a better understanding of their bills, while at the same time increasing their confidence that the health system will accurately and efficiently collect patient payments."
Change Healthcare's Third-Party Coverage Advocate looks at the thousands of people who visit hospital and emergency departments daily. All of these patients have varying levels and types of insurance coverage, including complex third-party coverage, which can be costly and time-consuming for providers to collect. Third-Party Coverage Advocate helps to optimize these collections and increase hospital revenue by managing the manual workflows of complex medical claims, including motor vehicle and workers' compensation accident cases. By utilizing onsite staff, Third-Party Coverage Advocate also helps to increase patient satisfaction through minimizing patient confusion around claims and billing, often times reducing or eliminating out-of-pocket expenses for the patient.
"Too often our hospital clients see complex claims from third-parties, which are difficult to resolve and often end up being left uncollected," said Donald Drummy, senior director, Third-Party Coverage Advocate at Change Healthcare. "By focusing on third-party liability opportunities, we can help ensure that patients have a better billing experience while also helping to optimize payments to providers."
To learn more about how the Change Healthcare Intelligent Healthcare Network™ brings value to its partners through innovative solutions, visit Change Healthcare at www.changehealthcare.com or follow @Change_HC on Twitter.
About Change Healthcare
On March 2, 2017, Change Healthcare and McKesson announced the closing of their transaction to form a new healthcare technology company. The new company is called Change Healthcare.
Change Healthcare is inspiring a better healthcare system. Working alongside our customers and partners, we leverage our software and analytics, network solutions and technology-enabled services to help them improve efficiency, reduce costs, increase cash flow and more effectively manage complex workflows. Together, we are accelerating the journey toward improved lives and healthier communities. Learn more at www.changehealthcare.com.
SOURCE Change Healthcare