PatientFocus Announces Name Change and New Corporate Offices | Business Wire
NASHVILLE, Tenn.–(BUSINESS WIRE)–Medical billing company PatientCredit has changed its name to PatientFocus,
to better reflect its mission of “putting the patient first” and its
exclusive focus on patient-pay. PatientFocus has tripled clients in 2012
and now serves more than 50 client sites in seven states. To respond to
its rapidly growing client base, the company’s employee roster has grown
three-fold, and the company has moved to new office space in downtown
Nashville, doubling its square footage.
Serving as an outsourced extension of the health care billing office,
PatientFocus provides full-service patient-pay account management
(payments due after insurance and before bad debt) to hospitals,
physician groups and other providers. PatientFocus offers every patient
flexible, interest-free payment options without a credit check, and
manages all patient communications: statements, inbound/outbound
telephone follow-up and online payment options. Current clients include
leading national healthcare corporations Anesthesia
Medical Group, e+CancerCare
and Optimal Radiology.
High-deductible health plans, higher co-pays, and coinsurance are the
new normal, and most providers must now collect a greater percentage of
revenue from patients (vs. relying solely on insurance). This trend
shows no sign of slowing. Patient balances typically comprise 20 percent
of the total bill, yet can be five times as difficult to manage and
collect, creating a paradox of value for the billing office. This is
where PatientFocus comes in.
“Healthcare providers appreciate PatientFocus because we bring the
capacity and focus necessary to maximize the value of patient-pay
receivables while freeing up time for the billing office to focus on
larger insurance claims. Patients also appreciate the PatientFocus
approach, which always features outreach from a financial counselor
sympathetic to their concerns, knowledgeable about their bills, and
willing to be flexible with payment plans that fit within their means,”
explained David
E. Frederiksen, PatientFocus founder and CEO.
PatientFocus alleviates the burden of managing patient-pay from the
billing office, and provides a simple platform that not only answers
patient questions in a way that reduces stress and confusion, but also
increases patient satisfaction and enhances patient-pay revenues. The
platform works seamlessly with any billing or EHR system.
“When PatientFocus handles all patient statements and communications,
providers still maintain control of patient accounts but reduce the
workload for the business office,” continued Frederiksen.
Leveraging technology to reach patients via text, email and post,
patient outreach begins with client-branded statements that offer
payment options in a clear and concise way and direct patients to a
payment portal. Patients can select payment plans online via their
smartphone or computer, and can always pay over time, interest-free, in
any way they choose, including check, credit card, bank draft, Health
Savings Account, and even PayPal.
Patients can also contact PatientFocus’ multi-lingual financial
counselors via phone, text or online with any questions. Working
directly from PatientFocus’ downtown headquarters, every counselor has
insurance billing experience and is specially trained to treat patients
with respect and understanding.
Funded with $1 million from veteran healthcare investors, PatientFocus
is profitable, with the company’s revenues tripling since the beginning
of 2012. Frederiksen launched the company in 2010 with Evan
Austill, PatientFocus COO, fellow Vanderbilt University MBA
graduate and co-founder.
The PatientFocus board comprises well-known healthcare executives and
medical experts, including: Jim Lackey, founder and former CEO of
Passport Health Communications and current CEO of EnableComp; Luke
Simons, former managing partner of J.C. Bradford & Co.; and Dr.
Rand Frederiksen, a cardiologist with more than 40 years of
experience as a health care provider and managing partner for his
physician practice group.
About PatientFocus
Located in Nashville, PatientFocus is a medical billing company focused
exclusively on self-pay and patient-pay accounts after insurance and
before bad debt collections. PatientFocus functions as an outsourced
extension of its clients’ billing office, providing every patient
flexible, interest-free payment options without a credit check.
PatientFocus manages 100 percent of patient communications, including
statements, inbound and outbound telephone follow-up, and online payment
options. Online: www.patientfocus.com