Revenue Cycle Management (RCM) execs have multiple objectives. Financial results are a key concern for management, to whom RCM execs report to. RCM staff also have to address patient intake satisfaction goals and objectives within their hospital. VestaPay’s suite of patient payment management tools covers the whole patient engagement cycle, including end-to-end tracking of a patient’s progress, while securing the maximum possible financial liability owed by the patient. Patients really like the Dynamic Balance Adjustment Auto Pay Plan (DBA-APP) as it permits them to schedule payments that are affordable, consolidating all their bills under one DBA-APP. It also provides patients with complete visibility into their payment schedule. This is all set up at time of service before the hospital and patients know exactly what they owe. According to Tom Brekka, Chief Revenue Officer at VestaCare, Inc., “When you can secure 100% of the patients’ known and unknown liabilities at time of service. i.e., before they leave, that is when you achieve the breakthrough in securing the maximum patient liabilities.”
