Category: vestapay_platform

Current Provider Payment Methods (Checks, ACH, EFT)

Longer wait times, . . .expensive . . . and cumbersome to reconcile! These are characteristics that define the current poor set of payment options available to Payers funding Provider obligations. VestaPay’s Automated Clearinghouse (ACH) payment process is well proven, e.g., transacting over $100 million per year, with electronic reconciliation. But this requires 3-5 days on average to clear payments. Now, a faster, simpler solution is available for every provider!

VestaPay is Real-Time Payment, anywhere, any time!
Providers now have a choice:
ACH (Least expensive, 3-5 day funding) Virtual Debit Card (Same day, Interchange costs only)
All services include online remittance with electronic remittance optional* (*Fee applies)

VestaPay Maximizes Financial Performance for all Providers

It’s something that no one wants to think about, but unfortunately, it’s the world we live in today – hacks and data breaches happen, and hospitals and healthcare institutions are prime targets for cyber criminals. If you’re hospital falls victim to hackers, you need a solution that will enable you to recover quickly to maintain patient satisfaction and minimize revenue losses.

Enter VestaPay’s Hack Mitigation System for Patient Mobile Registration and Engagement Services. The benefits of this solution include, but are not limited to:

1. Provides fail-over hand-off of VestaPay functions for all hospital administrative staff to continue full registration of patients even with complete shut-down and loss of access to the hospital’s EHR.

2. Enables uninterrupted mobile patient registration so patients can continue to self-checkin through full registration, minimizing excess burdens placed on staff during hack events.

3. Your hospital is able to continue full registration and capture of patient data, ensuring no to minimal loss of key data needed for insurance claim filing and billing patients.

4. Ensures patients can continue to be enrolled in VestaPay’s Dynamic Balance Adjusting AutoPay plans, through which hospitals are able to secure 100% of the patients’ liabilities at time of service.

5. Your hospital will continue to receive daily payments from automated DBA accounts, maintaining key cash and revenue flows.

6. Once full access and security is restored to your hospital’s EHR, VestaPay’s Hack Mitigation System will restore and synchronize data captured by VestaPay to the hospital’s EHR, minimizing “hack” recovery efforts.

Aside from patients transported by ambulance, ED providers rarely have any foreknowledge of a patient’s condition before they arrive to the ED. With VestaPay’s Mobile-Enabled Pre-Arrival Triage solution for ED patients, your clinical staff will have a preliminary indication as to the the conditions that are bringing patients to your ED.

How does the VestaPay Pre-Arrival ED Triage Solution Work?

VestaPay provides a simple, chatbot-based function that will enable the patient to identify, at a high level, what conditions are occurring. While clearly the information indicated is likely to be rudimentary, it is still more information than is available today. This solution offers your hospital’s ED staff “the opportunity” to evolve the classifications of complaints to maximize usefulness.

In addition to providing a complete QA validation on the patient’s demographics and insurance information, the VestaPay Patient Benefit Qualification solution utilizes two tiers of value confirmation.

1. Insurance Carrier Benefits Verification: We perform a direct lookup through our Eligibility EDI Partner (TransUnion). If the data returned is insufficient or unavailable, VestaPay will utilize its robotics to perform an automated web lookup of the insurance carrier.

2. State Medicaid Benefits Verification: When patients are registering as self-pay, we also perform an eligibility verification of Medicaid benefits that may be available. In all cases where benefit data is identified, we will use our advanced robotics to automatically update this data to the patient’s profile. Having this data accurately identified then facilitates VestaPay’s generation of accurate estimates, which in turn facilitates securing 100% of the patient’s liability at time of service.

Historically, the Emergency Department (ED) has been the biggest revenue sinkhole for hospitals. However, the ED is also the area that can see the biggest gains in a short period of time. So, what must hospitals do to change the narrative and make their ED the financial envy of every other department?

Enter VestaPay’s ED Patient Financial Engagement solution. Combined with our MPE solution, this tool empowers your ED patients to take a more active role in the registration process and provides them with complete visibility into their financial obligations every step of the way. This leads to an improved hospital-patient relationship, greater patient satisfaction, and immediate revenue gains for your ED.

With the VestaPay ED Patient Financial Engagement solution, hospitals will be able to:

1. For the first time, begin their engagement with patients and perform preliminary triage actions prior to the patient’s arrival in the ED.

2. Engage with patients with mobile registration tools before, during, and after time of service.

3. Offer an advanced estimating solution, which is particularly non-intrusive on ED clinical staff.

4. Effectively navigate EMTALA while securing 100% of the patient financial responsibility.

5. Create happier patients and financially healthier ED’s.

There’s a crisis with staff shortages right now and most hospitals are having to do more with less. This problem has a serious impact on staff morale, patient engagement and satisfaction, and patient receivables. Where can hospitals turn to find immediate relief against staff shortages and fix this problem once and for all?

VestaPay’s Virtual Staff Collaboration (VSC) solution is the answer. Combined with our MPE solution, this tool will enable you to streamline staff operations and efficiency, leading to greater staff efficiency, happier patients, and improved revenues. Viewed through an innovative dashboard, our VSC solution provides:

1. Real-time visibility for staff into every patient engagement as it is occurring.
2. Enterprise-wide staffing optimization without having to hire more staff, saving your hospital money.
3. The ability for one registrar to serve many patients in many locations simultaneously, greatly improving productivity.
4. Real-time display of cash and revenue secured.
5. The ability to facilitate mobile patient registration through our intelligent ChatBot, a contactless means of capturing all patient information throughout the hospital.

To achieve true financial success and optimal patient satisfaction levels, hospitals must improve patient engagement across the board by balancing the human element with lead-edge technology. In today’s digital-first world, that means supporting the ability for your patients to use their mobile devices to facilitate their medical care and take a more active role in the process.

With VestaPay’s Mobile Patient Engagement (MPE) solution, you patients will be able to receive appointment reminders, perform the complete registration process, acknowledge the total cost of their care, and manage 100% of the known and unknown patient liability at the point of service, straight from their medical device. The end result? Greater efficiency, reduced costs, greater hospital revenue, and happier patients.

The Benefits of VestaPay’s MPE Solution:

1. Patient empowerment, with your patients taking an active role in the entire registration process.

2. Enhanced staff optimization. Relieve registration responsibilities from staff so they can address other more pressing issues within the hospital.

3. Secure all information to allow for correct billing of insurance and reduce the amount of denials.

4. Secure 100% of the known and unknown patient liability at time of service, avoiding the potentially awkward discussion between staff and patient in addressing the patient responsibility.

5. Working with a world-class team that is laser-focused on helping your hospital enhance patient satisfaction and significantly improve financial performance.

Solving the patient revenue problem and improving net patient revenue is mission-critical for today’s hospitals. In order to do that, hospitals must have a way to secure 100% of the patient liability, including known and unknown charges, at or before time of service. And they must do this is a way that ensures patient satisfaction is at an optimal level.

VestaPay’s Time of Service (TOS) Patient Revenue solution is the only solution in the healthcare industry that will significantly increase your cash collections, reduce your costs, and make the patient revenue problem a thing of the past. All while ensuring your patients are highly satisfied and their unique needs are addressed as efficiently as possible.

What value does the VestaPay TOS Patient Revenue Solution provide?

1. Improved Patient Communication and Interaction  introducing mobile technology into the care program adds a completely new dimension to achieving improved care and patient satisfaction. Time constraints (i.e., periods when the hospital can capture the patient’s attention) are currently very limited. However, adding texting and chatbot functionality enables your staff to hold the patient’s hand through the complete treatment process.

2. Mobile Patient Self-Registration  the more patients can self-register the greater the efficiency, reduction in time delay, and increased patient access staff capacity. Rather than being stuck in a one-on-one staff to patient engagement, one staff member can support many patients registering simultaneously.

3. Virtual Staff Collaboration (VSC)  At VestaPay, we believe strongly in the value brought about by innovative technology. However, we also stress the importance of retaining the “human element” in all patient encounters. What this translates into is a need for tracking each patient engagement to determine if there are struggles being encountered and then taking steps to engage directly with the patient to assist them in overcoming their struggles. VSC is an all new, patent pending solution that identifies patient struggles and directs your staff when and how to assist. The other side of VSC is also a solution that substantially optimizes your staff’s efficiency.

4. Patient Payment Management and Dynamic Balance Adjusting AutoPay Plan (DBA-APP)  a cornerstone of the VestaPay program is securing 100% of the patient’s known and unknown liabilities at time of service. In order to do this effectively, one needs a new type of auto-pay plan. VestaPay’s DBA-APP represents a completely new approach and major breakthrough to securing all patient liabilities at time of service, even when you can’t know exactly what your patients owe at that time.