Questions? Feedback? powered by Olark live chat software Consumer Finance Platform Uses Audience Scoring to Cure Patient Hospital Debt

Industry

Finance / Healthcare

Channel

Multichannel

Industry:

Finance / Healthcare

Channel:

Multichannel

Challenge

A consumer finance platform partners with major hospital groups is looking to improve patient-hospital billing relationships from end to end. With a dual focus in making the billing experience easier and financially manageable for both patients and health systems, the platform sought to identify the patients most eligible for installment payment plans.

Solution

The client provides Alliant regular batch and real-time records from their hospital network clients. Alliant applies credit insight in addition to household income, number of members in household, owner versus renter status and continuity payment history. Holistically, the Alliant Audience Scoring provides a predictive look into a patient’s ability to pay, likelihood of responding to a collections effort and the patient’s financial stability.

Results

The client shares these insights with their health service partners, reducing bad debt and increasing payment, lowering hospital operational costs and improving the patient experience.

 

These solutions have helped realize:

• 30% increase in patient payments
• 75% reduction in administrative costs needed to collect patient debt
• 40% increase in patient satisfaction

These solutions have helped realize:

30%

Increase in patient payments

75%

Reduction in administrative costs needed to collect patient debt

40%

Increase in patient satisfaction