INDIANAPOLIS — Revele launches REVELE PayTM, it's new patient engagement and collection platform specifically tailored for medical practices using the eClinicalWorks EHR system.
Consumer out-of-pocket healthcare costs continue to increase, equaling nearly $500 billion in 2021. Practices continue to struggle to collect from patients, losing as much as 50 cents of every dollar billed. REVELE Pay was designed specifically to facilitate patient collections.
REVELE Pay has enabled impressive results from beta users:
- Decreased patient bad debt by 50-70%
- Increased patient net collection rate to 86-95%
- Reduced patient revenue collection to an average of 12.6 days
- Decreased statement costs by 80%
- Reduced billing-related patient calls by almost 80%
A study by InstaMed, a J.P. Morgan company, shows that 74% of all consumers and 80% of millennials prefer online payments for medical bills. 74% of millennials would switch providers for a better healthcare payment experience. Currently, 75% of providers still use paper statements and manual processes primarily for collection.
REVELE Pay is an online payment and collection solution which enables medical practices to automate:
- Preparation and delivery of digital online statements with integrated online payment options
- Scheduled follow-up reminder texts and emails with integrated online payment options
- Credit card detail capture and retention enabling contactless autopay features for subsequent bills
REVELE Pay’s integrated payment options include online statements and digital reminders giving patients an immediate, streamlined, and online payment path. The Tap to Chat feature included on digital statements and reminders also provides patients immediate access to live, US-based billing support to address any question or concern.
REVELE Pay is highly configurable, allowing practices on the eCW EHR to personalize patient engagement, including auto and live person reminder calls, online self-serve payment plans, and multi-channel drip campaigns.
REVELE Pay is included in Revele’s end-to-end healthcare revenue cycle management (RCM) and medical billing services designed specifically for eClinicalWorks users.
“In the past decade, patient pay has become a much more prominent component of medical practice revenue, representing 30% or more of total charges,” explains Revele’s CEO Arun Murali. “With increased costs and inflation outpacing medical charges, medical providers are under more pressure to collect every dollar, including patient pay. REVELE Pay has been in the works for nearly ten years, and we believe it is a game changer for our clients to:
- Accelerate cash flow;
- Dramatically increase patient collections;
- Reduce bad debt;
- Improved overall patient experience;
- Substantially reduce costs related to paper patient statements; and
- Materially cut the number of billing-related patient calls.”
Revele has started the roll-out of its new platform to current and new clients.
For more information about the platform, please contact Adrienne Schrimpf at aschrimpf@revelemd.com or (800) 769-5288.
About Revele
Revele is a leading provider of revenue cycle management (RCM) and medical billing solutions designed specifically for eClinicalWorks EHR users. Revele also provides training, consulting, and EHR optimization services for medical practices using the eClinicalWorks EHR. Revele’s clients include physician practices, hospital-owned physician groups, health centers, and enterprise networks across the nation.
Revele has been recognized on the Inc. 5000 list for three years and ranked as "Best in Class" in the Medical Group Management Association’s (MGMA) list of top medical business and service organizations. Revele is an independent, privately held company and not affiliated with eClinicalWorks.
For more information, please visit www.revelemd.com or call 800-769-5288.
Want more information on how REVELE Pay can upgrade your practice?
