Posts Tagged ‘payment plans’

PatientFocus Announces Name Change and New Corporate Offices | Business Wire

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:

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