Categories
vestapay_platform

VIRTUAL CARD PAYMENT SERVICES

Current Provider Payment Methods (Checks, ACH, EFT)

Longer wait times, . . .expensive . . . and cumbersome to reconcile! These are characteristics that define the current poor set of payment options available to Payers funding Provider obligations. VestaPay’s Automated Clearinghouse (ACH) payment process is well proven, e.g., transacting over $100 million per year, with electronic reconciliation. But this requires 3-5 days on average to clear payments. Now, a faster, simpler solution is available for every provider!

Introducing VestaPayTM Virtual Debit Card Payment

Features & Benefits [Providers]

  • Immediate real-time payment
  • Uses existing card terminals
  • Dedicated debit card number recharged for each new payment
  • Multiple EOB reconciliation tools
  • Online account tracking / reporting

Features & Benefits [Payers]

  • Less complicated than Checks and ACH
  • Shared remittance substantially offsets current check printing and ACH costs
  • Improved Provider satisfaction
  • Greater Provider willingness to accept discounts on out-of-network charges
  • Compatible with existing check printing services

VestaPay is Real-Time Payment, anywhere, any time!
Providers now have a choice:
ACH (Least expensive, 3-5 day funding) Virtual Debit Card (Same day, Interchange costs only)
All services include online remittance with electronic remittance optional* (*Fee applies)

VestaPay Maximizes Financial Performance for all Providers

Categories
who_we_help

Technology

System integration is the bane of most IT shops. VestaPay largely circumvents this headwind by using our advanced robotics technology. VestaCare created its own robotic technology in 2006, and first applied it to interfacing with major Payor claims systems. The result is a technical prowess that when combined with our advanced robotic system enables VestaPay to interface with all EHR and supplemental systems. This also requires substantially less time (weeks vs months) and costs, a winning formula for IT teams and their hospitals.

Categories
who_we_help

Patient Access

Patient Access

Technology is great! But it is made even better when human-like elements are also introduced at the same time to assist patients. Not all patients are facile with their mobile phones. Even though VestaPay’s mobile registration is very simple to use, we still anticipated that some patients may not be able to use their phone effectively to register. Because of that we introduced Chatbots to facilitate the patient’s mobile registration, essentially taking the patients by the hand and walking them through the complete registration process. The result is a much higher level of patient adoption, which is a key concern for any patient access professional. This is further complemented by our new Virtual Financial Desk enabling patients to have instantaneous live support with a human registrar that can assist them in completing the set up of their payments.

Categories
who_we_help

Revenue Cycle

Revenue Cycle Management (RCM) execs have multiple objectives. Financial results are a key concern for management, to whom RCM execs report to. RCM staff also have to address patient intake satisfaction goals and objectives within their hospital. VestaPay’s suite of patient payment management tools covers the whole patient engagement cycle, including end-to-end tracking of a patient’s progress, while securing the maximum possible financial liability owed by the patient. Patients really like the Dynamic Balance Adjustment Auto Pay Plan (DBA-APP) as it permits them to schedule payments that are affordable, consolidating all their bills under one DBA-APP. It also provides patients with complete visibility into their payment schedule. This is all set up at time of service before the hospital and patients know exactly what they owe. According to Tom Brekka, Chief Revenue Officer at VestaCare, Inc., “When you can secure 100% of the patients’ known and unknown liabilities at time of service. i.e., before they leave, that is when you achieve the breakthrough in securing the maximum patient liabilities.”

Categories
who_we_help

Finance

VestaPay’s solution for securing 100% of the patient liability at or before time of service (not after) provides tools that enable hospital financial management to greatly increase revenues in areas that have historically struggled.

This is not hype.
It has been proven in several hospitals with widely varying demographics and economic headwinds. Further still, for the first time hospitals are able to secure a significant portion of patient liabilities in the ED, again upon checkout, and not conflicting with EMTALA constraints. Most hospital EDs collect little to no patient payments. As a result, introducing VestaPay generates immediate and dramatic increases in revenues. A true game changer for your finance department.

Categories
vestapay_platform

HACK RECOVERY AND OPERATION

It’s something that no one wants to think about, but unfortunately, it’s the world we live in today – hacks and data breaches happen, and hospitals and healthcare institutions are prime targets for cyber criminals. If you’re hospital falls victim to hackers, you need a solution that will enable you to recover quickly to maintain patient satisfaction and minimize revenue losses.

Enter VestaPay’s Hack Mitigation System for Patient Mobile Registration and Engagement Services. The benefits of this solution include, but are not limited to:

1. Provides fail-over hand-off of VestaPay functions for all hospital administrative staff to continue full registration of patients even with complete shut-down and loss of access to the hospital’s EHR.

2. Enables uninterrupted mobile patient registration so patients can continue to self-checkin through full registration, minimizing excess burdens placed on staff during hack events.

3. Your hospital is able to continue full registration and capture of patient data, ensuring no to minimal loss of key data needed for insurance claim filing and billing patients.

4. Ensures patients can continue to be enrolled in VestaPay’s Dynamic Balance Adjusting AutoPay plans, through which hospitals are able to secure 100% of the patients’ liabilities at time of service.

5. Your hospital will continue to receive daily payments from automated DBA accounts, maintaining key cash and revenue flows.

6. Once full access and security is restored to your hospital’s EHR, VestaPay’s Hack Mitigation System will restore and synchronize data captured by VestaPay to the hospital’s EHR, minimizing “hack” recovery efforts.

Categories
vestapay_platform

MOBILE PRE-ARRIVAL ED CHIEF COMPLAINT TRIAGE

Aside from patients transported by ambulance, ED providers rarely have any foreknowledge of a patient’s condition before they arrive to the ED. With VestaPay’s Mobile-Enabled Pre-Arrival Triage solution for ED patients, your clinical staff will have a preliminary indication as to the the conditions that are bringing patients to your ED.

How does the VestaPay Pre-Arrival ED Triage Solution Work?

VestaPay provides a simple, chatbot-based function that will enable the patient to identify, at a high level, what conditions are occurring. While clearly the information indicated is likely to be rudimentary, it is still more information than is available today. This solution offers your hospital’s ED staff “the opportunity” to evolve the classifications of complaints to maximize usefulness.

Categories
vestapay_platform

PATIENT BENEFIT QUALIFICATION

In addition to providing a complete QA validation on the patient’s demographics and insurance information, the VestaPay Patient Benefit Qualification solution utilizes two tiers of value confirmation.

1. Insurance Carrier Benefits Verification: We perform a direct lookup through our Eligibility EDI Partner (TransUnion). If the data returned is insufficient or unavailable, VestaPay will utilize its robotics to perform an automated web lookup of the insurance carrier.

2. State Medicaid Benefits Verification: When patients are registering as self-pay, we also perform an eligibility verification of Medicaid benefits that may be available. In all cases where benefit data is identified, we will use our advanced robotics to automatically update this data to the patient’s profile. Having this data accurately identified then facilitates VestaPay’s generation of accurate estimates, which in turn facilitates securing 100% of the patient’s liability at time of service.

Categories
vestapay_platform

ED PATIENT FINANCIAL ENGAGEMENT

Historically, the Emergency Department (ED) has been the biggest revenue sinkhole for hospitals. However, the ED is also the area that can see the biggest gains in a short period of time. So, what must hospitals do to change the narrative and make their ED the financial envy of every other department?

Enter VestaPay’s ED Patient Financial Engagement solution. Combined with our MPE solution, this tool empowers your ED patients to take a more active role in the registration process and provides them with complete visibility into their financial obligations every step of the way. This leads to an improved hospital-patient relationship, greater patient satisfaction, and immediate revenue gains for your ED.

With the VestaPay ED Patient Financial Engagement solution, hospitals will be able to:

1. For the first time, begin their engagement with patients and perform preliminary triage actions prior to the patient’s arrival in the ED.

2. Engage with patients with mobile registration tools before, during, and after time of service.

3. Offer an advanced estimating solution, which is particularly non-intrusive on ED clinical staff.

4. Effectively navigate EMTALA while securing 100% of the patient financial responsibility.

5. Create happier patients and financially healthier ED’s.

Categories
vestapay_platform

VIRTUAL STAFF COLLABORATION

There’s a crisis with staff shortages right now and most hospitals are having to do more with less. This problem has a serious impact on staff morale, patient engagement and satisfaction, and patient receivables. Where can hospitals turn to find immediate relief against staff shortages and fix this problem once and for all?

VestaPay’s Virtual Staff Collaboration (VSC) solution is the answer. Combined with our MPE solution, this tool will enable you to streamline staff operations and efficiency, leading to greater staff efficiency, happier patients, and improved revenues. Viewed through an innovative dashboard, our VSC solution provides:

  1. Real-time visibility for staff into every patient engagement as it is occurring.
  2. Enterprise-wide staffing optimization without having to hire more staff, saving your hospital money.
  3. The ability for one registrar to serve many patients in many locations simultaneously, greatly improving productivity.
  4. Real-time display of cash and revenue secured.
  5. The ability to facilitate mobile patient registration through our intelligent ChatBot, a contactless means of capturing all patient information throughout the hospital.