IOUSOS™ is a compassionate, efficient and simple way for patients and health care providers to work together on unpaid medical bills
Kalamazoo, MI (PRWEB) April 22, 2009
A revolutionary new online patient medical bill clearinghouse is set to help more than 50 million Americans and healthcare providers tackle the growing problem of unpaid patient medical debt. IOUSOS™, powered by GlobeFunder and GlobalTech Collection Services, is a Web-based platform that offers hospitals a more cost-efficient way to deal with aged, unpaid patient bills now totaling an estimated $162 billion each year.
"Recent numbers show that up to 50% of current aged self-pay patient balances belong to people who have the financial ability to pay their medical bills," says GlobeFunder CEO and Co-Founder Brian Mullally. However, until now, there hasn't been a cost-effective way to clear up outstanding medical bills with patients and caregivers.
- The ongoing economic recession continues to hurt both consumers and providers.
- The responsibility for healthcare bills continues to shift from insurance companies and the government, directly to consumers,
- Healthcare providers are challenged by the technology, operations and human capital necessary to improve patient self-pay performance.
IOUSOS™ as a Solution
"The objective of IOUSOS™ is to encourage consumers to take more control and responsibility for their healthcare bills," says Mullally. "By using IOUSOS™, patients can eliminate the heavy burden of medical debt and rejoin their healthcare provider in good standing."
The online solution offered by IOUSOS™ is ideal because it:
- Costs patients nothing.
- Avoids the hassle and intrusiveness associated with medical billing and collections.
- Offers healthcare providers a way to recoup outstanding patient bills at a fraction of the cost of most in-house operations and collection agencies.
- Helps avoid negative media attention that has recently focused on healthcare providers who take a more aggressive approach to collecting delinquent accounts.
How IOUSOS™ Works:
IOUSOS'™ web-based platform allows millions of consumers already familiar with using online services like eBay, Amazon and Priceline to save money. With IOUSOS™ they can choose a price they can afford in cooperation with their healthcare provider.
The process is simple:
1. Consumers register on IOUSOS™ to settle their unpaid medical bills with their healthcare provider.
2. The healthcare provider is then notified and offered the opportunity to join the IOUSOS™ network in order to receive immediate patient debt repayments.
3. After a healthcare provider engages IOUSOS™, a list of delinquent patient accounts is sent to IOUSOS™. Advanced analytics on IOUSOS™ help determine the collection and marketing efforts best suited to facilitate the payment of the outstanding medical bills.
4. Patients with medical bills may be eligible to receive a discount and/or payment plan.
Medical Debt Can Make Consumers Sicker!
A recent study challenges the use of aggressive, contentious collection practices in healthcare patient accounts receivable management. Indeed, an AP/AOL Survey conducted in 2008 shows that debt problems are a leading cause of health ailments and delayed medical treatment for Americans:
- 27% of debtors suffer from severe depression.
- Medical debt caused 45% of Americans to delay or avoid healthcare treatments because they could not afford the costs.
"IOUSOS™ is a compassionate, efficient and simple way for patients and health care providers to work together on unpaid medical bills," says Mullally. "This online solution saves money and helps caregivers recover more revenue so they can continue to operate while improving patient and healthcare provider relationships during this time of national crisis."
About GlobeFunder Receivable Solutions, LLC:
GlobeFunder is an innovative provider of consumer healthcare financial solutions, helping both patients and providers constructively deal with the growing epidemic of unpaid medical bills. Interested healthcare providers can learn more and register at http://www.globefunder.com . Interested consumers can visit and register at http://www.IOUSOS.com .
IOUSOS™ • GlobeFunder Receivable Solutions, LLC ©2009 • All Rights Reserved • Patent Pending