This is just one example of how VestaPay achieves a 60-70% overall success rate in securing patient payment. Other revenue cycle vendors are essentially debt collectors who chase after patients while leaving you stuck in the Cash Flow Desert for five or six months… or longer!
In addition, the artificial intelligence built into VestaPay’s Dynamic Balance Adjustment feature automatically adjusts the patient’s final balance and number of payments due. It constantly monitors EOB postings and other PFR patient account adjustments down the line, all while keeping the patient’s monthly payments the same, with no additional overhead to you.
The result? You capture nearly 100% of what each patient owes at final billing without having to chase the patients for the balances over and above your initial estimates.
Sample Cash Flow Desert Analysis
Every hospital is impacted by the Cash Flow Desert. Below is just one example of a hospital that’s financially stuck in the sand. Note how VestaPay dramatically improves revenues with our Dynamic Balance Adjusting AutoPay plans:
Average Patient Financial Responsible (PFR) Balance: $350.00
(after insurance, adjustments, write-offs, etc.)
Average number of patient visits per month: 30,000
Industry average collections of PFR: 10%
POS of average collections of PFR: 4%
Total PFR: 30,000 x $350/Pt./mo.: $10,500,000