ASC Communications, Inc.

53 Executive Briefing ClearGage is a consumer-centric healthcare payments technology and financial services company providing payment processing solutions to the healthcare community. Our sole purpose is to enhance the consumer's quality of life by providing flexible and ethical payment solutions that enable them to receive and pay for the products or services they need or want. We satisfy the rising need for innovative payment solutions with revenue cycle technology that is efficient, patient-friendly, capable of reducing bad debt and days sales outstanding (DSO). interest. Patients are given options and choices that align their interests with those of their provider. For example, patients who choose to prepay or pay within 48 hours of statement presentment might receive a 10% discount while patients who require 12 months to pay might be charged 10% (or up to the state legal limit) interest. Here is how it works: two patients, one has a B credit ranking and the other has a D ranking. Both have an estimated balance of $1,000. Both would be offered the same 10% discount for pre-paying and both would be offered a payment plan of 3 months, interest free. However, the D person might also be shown extended payment plans with low interest including terms up to 6 and 9 months. Patients can accept the tailored payment plan or propose an alternative one. When patients propose an alternative payment arrangement, the system reviews it to see if it meets the provider's risk and underwriting guidelines, automatically approving those that do. If the plan is outside the guidelines, the plan would be pended for review by either a ClearGage or provider staff member. In either instance the practice approves the individualized plan before rendering services. Cash Flow Enhancement – Receivable Factoring While patients are demanding payment plans, many providers struggle with the impact that these in- house payment plans have on their administrative costs and their cash flow. For providers interested in outsourcing their patient payment plan administration, ClearGage offers a real-time and/or batch receivable factoring program that turns patient receivables into cash. At the provider's discretion, patient receivables and patient payment plans can be transferred to ClearGage on a non-recourse, recourse and/or partial recourse basis. This enables healthcare providers to effectively collect payments from all patients within 10 business days. "Providers can sell an individual patient payment plan or sell a batch of plans," says Hunziker. "Providers love this feature as they have the ability to sell a 12-month patient payment plan, receiving in 10 days what they normally would hope to collect in 10 months." In addition to receiving the cash up front, this optional service removes the provider's cost of administering the account as ClearGage services the patient. In determining the purchase price for this receivable stream, the system uses a proprietary algorithm that looks at payments to date, the current balance, the patient's alternative credit score and their estimated payment plan. Patient Engagement and Custom Communication Campaigns To combat the rising trends in patient responsibility, some providers are hiring additional staff to follow up with patient balances. Others are sending outstanding bills to collections agencies and many providers have given up altogether and do not even bill patients with small balances because it is just too costly. "None of these strategies are desirable or sustainable," says Hunziker. "Providers must embrace technology and leverage patient engagement to effectively collect on the patient balance." ClearGage automates the communication and collection functions leveraging email, text messaging and IVR payments in lieu of relying solely on costly paper statements and live agent support. Today's healthcare "consumer" expects clear and transparent communications delivered over their preferred communication method. ClearGage's patient-friendly automated messaging system is configured to deliver messaging utilizing the most cost effective delivery method first. Patient communication journeys are configured in the system and then automated requiring little to no staff intervention. Providers can choose from one of ClearGage's pre-defined patient communication journeys or customize their own campaigns. Additionally, the system leverages machine learning and is always adjusting its messaging and targeted payment offers based on consumer response and adoption. "Sending paper statements to GenY (21 – 36 year olds) is a waste of time and money. They are not going to even open it let alone pay," says Hunziker. For this group ClearGage leverages text and email. "Our system looks at a patient's demographics including age and gender, their balance and their propensity to pay to determine how to communicate with them in the timeliest and cost effective manner. A 27-year-old male who owes $22.00 would be communicated with and messaged differently than a 71-year-old woman who owes $800.00." Manage Patient Care, Not Collections The bottom line: Navigating the world of patient treatment, financing and collections is no cakewalk. Fortunately, solutions like Clearage can streamline the entire process while reducing the risk and compliance headaches associated with patient financing. It's a sophisticated yet user-friendly way to help healthcare practitioners to get back to what they do best: treating patients. n

• Cover