ClearBalance’s well-earned reputation for exceptional patient financial care and financial performance is a perfect fit for Loyale’s best-in-class approach to comprehensive patient financial engagement
Lafayette, California (PRWEB) May 01, 2018
Responding to health system demand for comprehensive revenue cycle solutions that address rising patient costs and consumer expectations, Loyale Healthcare today announced the addition of ClearBalance® patient financing solutions to Patient Financial Manager™, Loyale’s industry leading end-to-end patient engagement platform.
The partnership is driven by the recognition that rising patient out-of-pocket exposure has become a serious threat to patient care and provider performance and that a seamless, patient-friendly solution is required to address the industry’s most pressing patient-pay and patient-experience concerns.
- 40% of patients avoid, defer or cancel treatment due to cost and lack of affordable payment options
- Automating the patient’s financial experience with Loyale PFM’s preclearance and ClearBalance patient pay options can reduce abandonment 20-30% and help health systems ensure that affordability is not an obstacle to care
- ClearBalance is known for its high patient loyalty and referrals; 90% of patients are likely to return to the health system and 88% will refer family and friends
- Loyale’s high-affinity digital self-service channel increases patient digital engagement up to 100% or more
- Loyale’s and ClearBalance’s seamless patient-pay experience is expected to improve patient satisfaction, enhance revenue cycle workflow efficiency and encourage patient loyalty
“We knew we needed a patient financing partner with rock-solid healthcare revenue cycle and years of patient pay management expertise,” says Kevin Fleming, Loyale CEO. “ClearBalance’s well-earned reputation for exceptional patient financial care and financial performance is a perfect fit for Loyale’s best-in-class approach to comprehensive patient financial engagement.”
“ClearBalance’s mission is helping consumers afford the care they need to lead healthy lives with sensible payment options that work for providers,” stated Bruce Haupt, ClearBalance President and CEO. “We have been delivering a superior patient experience and client ROI for 26 years at large and small hospitals and health systems across the country. We wanted a partner with similar experience and results. Loyale’s Patient Financial Manager platform delivers a phenomenal experience with patient self-service capabilities and revenue cycle workflow tools. The combined solution is a win-win-win for patients, health systems and our partnership.”
ClearBalance has been at the forefront of patient pay management since 1992, setting and delivering a high bar for patient financing solutions, patient pay reimbursement, revenue cycle IT expertise and the patient/consumer experience. ClearBalance uses its HFMA Peer Reviewed ROI Value Model™ to identify providers’ cost to collect patient pay along with opportunities for improvement in one year. The tool sets nationally recognized benchmarks for a long-term financing alternative. Clearbalance.org
Loyale Patient Financial Manager™ is a comprehensive patient financial engagement technology platform leveraging a suite of configurable solution components including predictive analytics, intelligent workflows, multiple patient financing vehicles, communications, payments, portals and other key capabilities.
Loyale Healthcare is committed to a mission of turning patient responsibility into lasting loyalty for its healthcare provider customers. Based in Lafayette, California, Loyale and its leadership team bring 27 years of expertise delivering leading financial engagement solutions for complex business environments. Loyale currently serves approximately 2,000 healthcare providers across 48 states. Loyale recently announced an Enterprise level strategic partnership with Parallon including deployment of its industry leading technology to all HCA hospitals and Physician Groups nationwide.