AccuReg EngageCare® Increases Revenue for Augusta University Medical Center: Boosts Upfront Cash Collections to $9M in One Year
Price estimation software improves patient experience and staff accountability and establishes easy patient payment protocols
NASHVILLE, Tenn., March 6, 2023 /PRNewswire/ -- AccuReg, a leading healthcare technology solutions company, has expanded its partnership with Augusta University Medical Center by adding its price estimation tool to the AccuReg EngageCare®, patient access suite of services utilized by the health system. Adding the price estimation solution increased point-of-service collections to $9 million, up from an expected $3.6 million, improved the patient experience and transformed the health system's patient access and staff accountability.
Because AUMC already had AccuReg solutions in place to audit 100% of patient accounts for accuracy and analyze real-time eligibility, the addition of Price Estimation built on a solid foundation to improve the patient experience.
Sherri Creech, Assistant Vice President of Patient Access Services for AUMC, was responsible for adding the price estimation tool soon after she joined the organization in 2021.
"Our organization was missing opportunities by not prioritizing pre-service and point-of-service payment discussions and we lacked the user-friendly automation needed to effectively secure payment prior to and at the point-of-service," said Creech. "Within a year, after adding the AccuReg EngageCare price estimation software and revamping training on how to engage patients financially, our hospital collected $5.4 million more than we expected and prevented over $1.4 million in back-end rework to correct errors."
AccuReg's market-leading patient access solutions enable patient access teams to detect and correct errors and risks to revenue at the front end of patient engagement. AccuReg EngageCare integrates and complements leading EHRs to improve customers' return on investment by eliminating expensive rework, denials, collections and write-offs that surface later in the revenue cycle, while increasing pre-service payments and financial assistance conversions.
"The goal of strong, efficient patient access teams is not about collecting, it's about providing patients with the information they need to make decisions about their care before they incur a charge," said Paul Shorrosh, AccuReg CEO and Founder. "Our software makes it easier for patient access teams to know they have accurate information to discuss financial obligations and empowers them to create a better experience for patients anchored in choice and control. AUMC is a perfect example of how an organization can benefit operationally and financially when the right patient access software and training is in place and is properly executed."
"Improving the patient access experience was a system-wide goal for us and we were committed to changing how we approached payment," said Creech. "AccuReg not only provided the tool we needed for accurate information upfront about patient financial responsibility, but also helped us train staff who hadn't been adequately prepared for collecting at preregistration or registration."
AccuReg was recently awarded the 2023 Best in KLAS® designation as the number one ranked company in patient access, which represents the second time in three years it has achieved the top score in its category.
About AccuReg: AccuReg, the market leader in patient access, provides health systems, hospitals and large clinics with a single platform that integrates patient engagement, intake and access and enables healthcare consumerism, the consolidation of vendors and increased net revenue. AccuReg EngageCare utilizes an advanced rules engine and intelligent robotic process automation, machine learning and predictive analytics to provide patients intuitive digital tools that allow them to complete error free pre-registration and registration, access a digital front door and virtual waiting room at check-in, make payments from accurate price estimates and communicate bi-directionally in real-time. EngageCare delivers the data integrity required to reduce denials, increase collections and protect net revenue. EngageCare provides patients the digital experience they expect and further positions customers as leaders in their markets. AccuReg has offices in Nashville, Orlando and Mobile. AccuRegSoftware.com
About Augusta University Health: Based in Augusta, Georgia, Augusta University Health is a world-class health care network, offering the most comprehensive primary, specialty and subspecialty care in the region. Augusta University Health is a not-for-profit corporation that manages the clinical operations associated with Augusta University.
Media contact: Philip Betbeze
[email protected]
SOURCE AccuReg
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