Optimizing revenue cycle solutions to engage patients and improve the patient experience

How do you help healthcare organizations navigate the biggest challenges in healthcare?

Through seamless integration, high-tech communication channels, training support and visually appealing, results-oriented reporting. The healthcare delivery system is undergoing tremendous change in an effort to meet the ever-changing demands of their patient populations. Today, it’s not enough to passively receive, triage and treat. Healthcare organizations must develop optimized solutions that engage patients and focus on the patient’s experience. This new dynamic spills over into the patient’s experience with traditional “back office” efforts in the revenue cycle. PFC recognizes that all the excellent care a patient receives is overlooked or overshadowed by a “bad” billing experience. In response, PFC has worked with its healthcare partners to implement omnichannel communications to provide patients with a safe and convenient channel to pay for services in a method they prefer.

What advice would you offer to healthcare leaders when choosing among vendors?

Vet your vendors carefully. Dispense with the notion that billing and collections is a commodity, and therefore, cheapest is best. Successful vendor relationships are built out as true partnerships in which both parties benefit, with price being a consideration only to the extent that it is competitive and reasonable. Make site visits wherever and whenever possible, talk to vendors’ references, spend time with or interview vendors’ key operations personnel, and evaluate value additional services on the basis of the merits to your practice and the patient’s experience. And finally, understand that the experience and relationship does not end with the execution of a contract or service agreement. It is incumbent on you, the customer, to stay involved post go-live with regularly scheduled operational and results reviews.

What is some advice you can give providers for a successful implementation of a new product or service?

Stay involved, agree on reasonable timelines and then track the progress of the project against those timelines. Understand there will be an investment required on your part: You will need to commit the necessary resources (IT, project manager, contracting, integration, etc.) as well as have dedicated staff available to provide the vendor with data, previous results and/or experiences. Be willing to recognize the “must haves” from the “nice to haves” in the project’s scope and negotiate in good faith on both fronts. 

Quick Facts

• Number of years on the Short List: 9 years
• 100% of respondents felt that PFC Rev’s services provided value and would recommend PFC Rev to their colleagues
• 100% of respondents felt that PFC Rev’s services met their expectations as a business partner while 89% felt that expectations were exceeded
• 100% of respondents felt that PFC First’s services provided value and would recommend PFC First to their colleagues
• 100% of respondents felt that PFC First’s services met their expectations as a business partner while 86% felt that expectations were exceeded

About PFC USA

Since 1904, PFC USA has provided accounts receivable management solutions for healthcare providers and currently serves over 1,200 healthcare professionals nationally. PFC’s Omnichannel Preferred Solutions (OPS) streamlines patient communication and increases your bottom line by providing convenient tools for your patients to pay and interact with your facility. PFC’s approach to a successful partnership begins with a focus on front-end functions and extends beyond the patient’s service to convert accounts receivable into dollars received. From first party billing follow-up to third party debt recovery, PFC ensures your revenue cycle and patient engagement is optimized.

To learn more about HFMA’s Peer Review program, visit hfma.org/peerreview