Q&A with Dominic Foscato of Sift: A data-driven approach to financial engagement
More than ever, health systems need to adopt a data-driven approach to patient payments. Patients payments account for up to 30 percent of hospital revenues, but collecting from patients is often much harder than obtaining reimbursements from payers due to complexity, regulation, and patient means. Sift Healthcare equips health systems with an integrated data-driven toolset to drive patient financial engagement, which allows health systems to: Pre-clear patients upfront Get more patients on payment plans, earlier Execute omnichannel contact across the entirety of the patient journey, so the right patients receive the right messages through the right channels Help patients commit to meeting their financial obligations before service Utilize an integrated view of insurance-patient responsibility to present and early and accurate summary of patient responsibility and optimize account resolution