This morning, hc1 announced our newest partnership with leading healthcare revenue-cycle management provider Experian Health. This partnership between industry leaders enables labs, diagnostic providers, and other referring healthcare organizations to capture lost revenue and control costs – while delivering the highest level of patient care.
"In today’s challenging healthcare environment, technology and information services will play a critical role in empowering organizations to improve their bottom line while remaining competitive,” said Brad Bostic, Founder & CEO of hc1.com, in a press release. “Our relationship with Experian Health combines the number one healthcare CRM solution company with the leading healthcare revenue-cycle management solution to enable lab executives to manage financial risk and become more profitable.”
This joint effort will allow lab leaders to:
- Understand which accounts/types of accounts generate the best return
- Know which relationships require active engagement and education
- Proactively monitor changes in payer policy
- Drive action and engagement with customers to lower risk
- Provide executive visibility into key metrics such as patient charity care eligibility rate, percent of provider accounts with high-risk patients, and account scorecards for reimbursement via live analytics
“Joining forces with hc1 will enable Experian Health to expand our footprint in the lab market and provide significant value to its revenue cycle operations,” said Jennifer Schulz, Experian group president of vertical markets, in a press release. “Experian Health’s expertise will help solve the lab market’s challenges of insufficient patient information and unpaid services by improving data quality and enabling actions to maximize reimbursements.”
You can read the entire press release here.