Products /
Predictive Patient Payment Management
Predictive Patient Payment Management
Overview
Contents
Avia Summary
o
Predictive Patient Payment Management is a solution provided by Sift Healthcare which was founded in 2017. It belongs to multiple categories of digital health solutions including Patient Billing & Payment and Revenue Cycle Management.
o
It has 3 verified clients.
o
Predictive Patient Payment Management integrates with major EMRs such as Epic, Cerner, and Meditech.
o
Some other resource(s) that may be helpful in learning about Predictive Patient Payment Management include: Q&A with Dominic Foscato of Sift: A data-driven approach to financial engagement and Top Patient Billing and Payment Companies Report | 2023
Select which hospital or health system you work at and see a personalized match score.
HELPFUL TOOLS
Predictive Patient Payment Management Comparisons
Best Predictive Patient Payment Management Alternatives
View top 10 alternatives for Predictive Patient Payment Management
About
PRODUCT ATTRIBUTES
COVID-19
Pediatric
CLIENTS OVERVIEW
Key Clients
Clients Your Size
USED BY
0 People
3 Organizations
EHR integration
Integrations: | Acute care EMR, Ambulatory EMR, Patient portal, Access +/or revenue cycle |
EMR Integration & Relevant Hardware: | None provided |
EMRs Supported: | Epic, Cerner, Meditech, Allscripts |
Hardware Compatibility: | None provided |
Description
For hospitals, it is 4x harder to collect from patients than insurance payers. Patients now make up to 30% of hospital revenue but are 4x harder to collect from than insurance payers1 due to complexity, regulation and patient means.
Sift Healthcare provides advanced analytics and machine learning integrations to optimize patient payments. Sift combines patient payment expertise and AI-driven intelligence to equip providers with an integrated toolset to optimize patient financial engagement.
Patient collections should be a dialogue, not a solicitation. Sift integrates AI into your patient engagement platform to guide patient communications activities – maximizing collections while improving patient engagement.
- Account Segmentation
- Patient Contact Strategy
- Payment Plan Provisioning
- Improved collections, increased payment plan adoption, and reduced inbound/outbound calls
Propensity-to-pay for a person, not a number. Sift goes beyond credit scores, leveraging historical data to determine the best engagement approach for each patient.
- Improved Patient Satisfaction
- Pre-service patient financing and collection recommendations that help avoid surprises and set expectations
- Lookalike predictive models, not credit scores and rule logic
- Increased upfront collections with more empathy
Use cases
Description
Sift's intelligence tools and integrated ML recommendations around patient payments enable health systems to:
- Pre-clear patients upfront.
- Get more patients on payment plans, earlier.
- Execute omnichannel contact across the entirety of the patient journey.
- Help patients commit to meeting their financial obligations before service.
- Utilize an integrated view of insurance-patient responsibility to optimize resolution and present patient responsibility, early and more accurately.
COVID-19 use cases:
In the aftermath of COVID-19, it will be increasingly important for healthcare providers to be flexible payment partners. To do this effectively, predictive analytics around payments will be essential. Sift identifies who will struggle to pay, how to best structure payment plans for each individual patient, and best contact method and frequency for communication. All of these AI-driven recommendations are integrated into providers' existing revenue cycle workflows, making it easy to integrate a proactive patient payments strategy.
Users:
VP or Revenue Cycle, PFS executives, PFS team, SBO and CBO personnel, Patient Payment Collections Team
Differentiators
Differentiators vs EHR Functionality:
- Unified and normalized data sets that are accessible and provide a full view of patient payment behavior
- Dynamic machine learning based workflows, rather than rigid rules-based logic
- Intelligence that enables the most effective use of EHR functionality
Differentiators vs Competitors:
None provided
Diversity, equity, and inclusion practices
DEI is short for diversity, equity, and inclusion. Learn more about DEI practices.
Product Design
None provided
Product Delivery
Engagement options
Select which hospital or health system you work at and see a personalized match score.
Predictive Patient Payment Management Comparisons
Best Predictive Patient Payment Management Alternatives
View top 10 alternatives for Predictive Patient Payment Management
