Kevin Don, Executive Director, Global Business Services at Falck, US & Matt Seefeld, EVP at MedEvolve, discuss how Falck US Emergency Medical Services significantly decreased patient & insurance collections, decreased bad debt write-offs, & reduced cost to collect. Pinnacle webinar series sponsored by Fitch & Associates.
Revenue Cycle Resources for EMS
First 3 months with MedEvolve Effective Intelligence, Falck achieved their highest collection months in March & April 2021, up 24% from previous 10 months.
Healthcare organizations face unique challenges when collecting patient payments. Increased financial responsibility and limited interaction with patients before or during a visit can make it difficult to collect patient balances. The right tools and technology can help drive more payments and relieve the burden on smaller front and back-office teams to collect.
There are better and smarter ways to approach RCM in today’s EMS environments. Forward-looking companies should not accept high bad debt ratios as “part of doing business.” Technology-enabled processes and strategies, coupled with effective people, can dramatically improve bottom-line performance.
How Falck US Emergency Medical Services significantly decreased patient & insurance collections, decreased bad debt write-offs, & reduced cost to collect.
Web-based technology MedEvolve Workflow Automation & Real Time Revenue Cycle RCM Analytics measures & tracks employee effectiveness. Hire talented staff from anywhere. Reward high performers.
If your desired outcome is higher margin in your revenue cycle, but your actions aren’t aligned, you cannot achieve that outcome. The right technology & process guides the right people to success, therefore increasing your margin.