Healthcare payment provider RevSpring has launched a partnership with Texas health company Next Level Medical.
Announced on Wednesday (April 19), the collaboration will enable Next Level to deliver a “connected and seamless healthcare engagement experience” for patients, eliminating data errors and administrative overhead, RevSpring said. said in a news release.
According to the release, the partnership between the two companies has allowed Next Level to double its emergency care locations without adding new administrative staff. Administrators can now focus on “higher-level revenue cycle tasks” rather than data entry associated with entering patient data, validating insurance, or collecting copayments.
“RevSpring understands the nuances of the healthcare business and what we are trying to achieve with Next Level,” said Dr. Juliet Breeze, Founder and CEO of Next Level Medical. Of the other technology companies we considered, RevSpring solutions most fully embraced our vision.”
According to the release, the solution provided by RevSpring includes a dashboard for staff to monitor patient self-service activities, a virtual waiting room, and a digital form that uses optical character recognition (OCR) to automate form filling. there is.
As PYMNTS recently wrote, the healthcare sector may be one of the industries best prepared for digital transformation.
“Some things linger as the pandemic recedes,” we wrote last month.
“We are expanding the range of things we can do online, from checking in for doctor appointments via apps, to scheduling telemedicine appointments, getting prescription refill requests texted, to paying online, and more. I’m used to doing more.”
Yet healthcare remains fertile ground for technology-driven improvement, as paper bills are still common and services remain fragmented. Summarize.
But as the report ConnectedEconomy™ Monthly Report: The Evolving Digital Daily Edition showed, levels of engagement across 10 pillars of interaction, from banking to having fun, are on the rise.
Consumers are using 15% more digital tools than last year, including in the healthcare sector, according to PYMNTS research.
“Using apps and hardware such as watches to track fitness and relay vital health-related data to consumers is clearly a young man’s game,” PYMNTS wrote.
Another area where the healthcare sector is lagging behind is real-time payments. Findings from his PYMNTS/Corcentric report in March, “Digital Payments: The Expanding Payment Palette,” found that healthcare companies offer an average of nearly six payment methods per company, while financial and insurance lagging behind the sector.
“However, the current low acceptance rate of real-time payments marks the beginning of consumer-facing services within the sector,” we wrote.
“The increase in acceptance of healthcare companies across payment options reflects a greater push to meet customer demand, minimizing the risk of losing customers to other providers. 92% of healthcare companies not currently investing in real-time payments plan to do so in the future.”