How Missouri Delta Used VestaPay to
Secure Patient Payments & Significantly
Accelerate Financial Performance
Key Stats:
Over 84 physicians on medical
sta in over 25 dierent areas of
healthcare
84 Physicians
25 DIFFERENT AREAS
Missouri
BASED IN SIKESTON,
144 Bed
29 CLINICS
144 bed, sole-community hospital
with a total of 29 clinics, 11 of which
are Rural Health Clinics.
“VestaPay has
secured 6x the
amount of
patient cash &
payment plans
as our previous
vendor”
Greg Carda, Chief Financial
Oicer, Missouri Delta
Medical Center
CASE STUDY
The Problem
When Greg Carda arrived at Missouri
Delta Medical Center (MDMC) in
February of 2015, patient payments
received on or before time-of-service
(TOS) amounted to almost nothing and
this put MDMC in a very diicult financial
situation. They needed to find a
significantly beer way of increasing
collections from patients that were right
in front of them.
MDMC had tried other vendors in the
past, but only with moderate success.
They were only collecting 11.5% of
patient responsibility in total, and they
knew that number had to be greatly
improved for them to achieve financial
success.
MDMC turned to the VestaPay platform in December of 2018 to accelerate
patient collections through VestaPay’s eligibility, accurate estimating, & dynamic
balance adjusting auto-payment plan solutions. While there was an initial fear of
potential patient rejection, MDMC experienced quite the opposite. Patients were
engaged and very receptive to the automated payment plans being oered to
them, and MDMC saw a massive shift in patient payment behavior.
The Solution Chosen to Solve The Problem
11.5%
Collection of
Patient
Responsibility
Before Time
Of Service
$0
The change in patient payment
behavior that MDMC immediately
witnessed translated into real financial
results. Patients were entering into
more and bigger payment plans, and
three years into using the VestaPay
platform MDMC was collecting almost
14% of total patient responsibility (that
number is now 15.5% as of July 2024).
According to Carda, MDMC currently
has almost $1.2 million out in patient
loans and they are collecting $65,000
per month like clockwork. “We don’t
have to manage anything,” said Carda.
“Of every dollar that is put on a
VestaPay plan, we know we can count
on collecting at least 90% of it. That’s a
game changer for us.”
For MDMC, the key to geing their patients
on payment plans through the VestaPay
platform is to engage them at or before
time-of-service (TOS). All MDMC patients
are oered the opportunity to enroll in the
payment plan program at TOS, within 2-5
days before TOS, or immediately after
discharge. Carda reports that about
25%-30% of their patients move forward
with a flexible payment plan that works for
them, and more patients are enrolling each
month. MDMC typically requests the first
payment be made before TOS, and they
know they can expect a steady stream of
payments each month over the next 30,
60, 90 days, and so on. MDMC’s cash flow
from patients has never been beer,
patient engagement is at an all-time high,
and employee morale is significantly
improved because they can work with less
stress and greater eiciency, knowing they
can provide their patients with a real
solution to securing their healthcare needs.
VestaPay’s Impact
90%
RECOVERED
THROUGH VESTAPAY PLANS
90%
15.5%
COLLECTION
OF PATIENT RESPONSIBILITY
15.5%
What Makes VestaPay
Dierent?
Carda pointed to several factors that separated VestaPay
from other vendors he had worked with in the past:
VestaPay’s Dynamic Balance Adjusting
Auto-Pay Plans (DBA–APP) enable the sta
and patients to secure 100% of their total
liability at TOS when they don’t know exactly
what they owe, and then not have to worry
about the plan as it will automatically adjust
when the final balances are known two–three
months later. Patients have a very high
confidence in the VestaPay DBA–APP because
it ensures they are billed correctly & accurately
every month. “We really like the DBA–APP
because we can set it up once and forget
about it thereafter. The payments come in like
clockwork!“, said Carda.
VestaPay has proven to be exceptionally
responsive and flexible when it comes to
adding new features and customizing
solutions to meet MDMC’s needs. In the
fast-paced world of healthcare, MDMC
needed a partner that could oer 24/7/365
support and provide complete peace of
mind. They’ve found that with the VestaPay
team.
“Implementing
VestaPay is the single
best decision I’ve
made as a CFO. No
other company in the
healthcare industry is
doing what the
VestaPay solution
does…not even
close.”
Greg Carda, Chief Financial Oicer,
Missouri Delta Medical Center.
To learn more about the VestaPay
platform, please visit
He looks at VestaPay as a “partner” in MDMC’s financial
success, and not just another vendor.
Many vendors talk about accelerating collections on patient payment responsibility and
increasing patient engagement at the same time, but VestaPay has actually done it.
“They’ve goen us out of the cash flow desert and strengthened our relationship with
our patients,” said Carda.
