Financial care for patients
Secured revenue for hospitals
“Surprise” bills steer patients away from hospitals. VestaPay reverses the trend with:
- Transparent Cost Estimates
- Flexible Payment Options
- Budget Friendly Payments
- Personalized Communications
VestaPay reduces patient leakage with multiple strategies:
- Identify “Flight-Risk” patients
- Accurate Patient Liability Estimates
- Patient Outreach
- Schedule Confirmation
Secure 100% of known and unknown patient responsibility at TOS.
- AutoPay Plan Enrollment in 5 -7 Minutes
- Fully Automated AutoPay Plans
- Dynamic Balance Adjustment
- Automated Patient Accounting/Posting
- Non-Recourse Line-of-Credit
Best-in-class services that compliment existing platforms to maximize ROI or that can stand alone as a comprehensive solution
Build a Reputation for Affordable Healthcare
Unaffordable healthcare is a primary cause of patient leakage as patients delay or avoid the care they need due to large out-of-pocket costs due upon receipt after treatment.
To achieve a reputation for providing affordable healthcare, hospitals must provide treatment estimates and affordable payment options PRIOR TO TREATMENT.
- Known financial liability
- No surprise bills
- Focus on recovery
- Less financial anxiety
Rising deductibles and the growing availability of lower-cost treatment locations has hospitals seeking ways to minimize declining patient admissions. VestaPay addresses patient leakage in four steps:
- Identify ‘flight-risk’ patients who defer or seek lower cost healthcare.
- Engage patients to estimate and schedule treatment
- Secure 100% of patient revenue prior to treatment with flexible payment plans.
- Report on prevented patient leakage revenue.
Secure Patient Revenue
% of patients who receive a statement default on their payments and become bad debtors.
30 – 35%
% of hospital revenue comes from patients – a fifteen-fold increase since 2005.
Patient responsible revenue is a larger percentage of hospital revenue than ever before and is crippling many hospitals financials.
VestaPay enables hospitals to secure 100% of patient revenue prior to treatment and dramatically increase revenue.
- 100% secured payment prior to treatment
- Flexible payment plans and loans
- VestaPay enrollment in 5 – 7 minutes
- Scheduling & registration staff training and support.
- Decrease patient bad debt.
VestaCare ACH is our electronic payment and reconciliation solution that minimizes payment distribution expenses for payers by maximizing electronic provider payments, cash transfers and remittance data. In addition, VestaCare ACH supports electronic EOB remittance by providing advanced EDI formatting, customized provider payment transactions and electronic remittance in a variety of formats following the basic 835 EDI standard.
VestaCare’s advanced transaction workflow management, automated human decision-making and seamless integration with all payer claims systems allows TPA’s to customize their optimum solution.
Expanded Expertise in Solving Hospital Patient Leakage Challenges La Jolla, CA – January 9, 2018 VestaCare, Inc – A healthcare payment solutions company, is excited to announce and welcome the addition of two senior healthcare executives. Doug Bilbrey joins as vice president of sales and Ray Chase comes aboard as vice president of national accounts. […]
Becker’s CFO Report Hospitals and health systems across the nation are looking for ways to tackle a growing industry problem: how to collect from patients with high-deductible health plans. Traditional post-treatment collection approaches are expensive and ineffective. Ideally, 100 percent of patient responsible revenue would be secured prior to treatment, and that can be complicated […]