Mar 02, 2017

Get Paid Easily by Patients as SuiteRx Partners with AR Proactive

Patient payments – no longer the step-child of revenue streams
 
Patient payments are the step-child of revenue streams. They get the least attention and are difficult to deal with.  Much of patient AR (accounts receivable) is written off (30% in some settings, JP Morgan).  The cost-to-collect patient AR is often higher - stuffing envelopes and making phone calls is less efficient than electronic claim submission.  And most pharmacy software has only basic functionality focused on patient payments.
 
But we’re living in a world where pharmacies can no longer ignore patient cash flow.  Patients now account for a bigger slice of the reimbursement pie. Since 2006, high deductible health plans (HDHP’s) have increased sevenfold (Self-Pay Patient Financial Liability, HFMA.org).  In addition, eroding reimbursement from the traditional insurances payers means patient pay is back in the spotlight.
 
To solve the patient payments riddle, SuiteRx partnered with AR Proactive.  AR Proactive is an automated invoicing and payment tool to increase patient payments.  It works by automatically following up on unpaid bills with a series of letters with appropriate wording, a payment portal for patients, reminder phone calls, emails, payment plans, and one-click to send accounts to the collections agency team. 
 
A McKinsey study asked patients why they don’t pay (The Next Wave of Change for Healthcare Payments).   The reasons are fixable, and so SuiteRx and AR Proactive decided to partner to address the causes.  Through the integration of these companies, billing staff can now electronically submit patient statements for payment and resolution, while CFO’s can monitor the activity from a patient AR dashboard.  “The goal is increased patient payments – with ease,” comments Nick Zener, SuiteRx’s CEO.  “So think of it as automated workflows for patient AR,” concludes Rich Handler, AR Proactive’s founder.

Finally, we may see patient payments restored as a respectable revenue stream.  And for some pharmacies, it may be the cash-flow life-saver they’ve been looking for. 
 
To learn how you can get paid, and see if you’re a good fit, contact:
Grace Ball |  SuiteRx |  grace@suiteRx.com  |  (214) 789-7373  |   SuiteRx.com
Rich Handler |  AR Proactive | rich@ARproactive.com  |  (414) 699-2541   |   ARproactive.com

Market Buzz

Apr 25, 2017 Spring Cleaning is a Breeze with SuiteRx IPS
Apr 20, 2017 Student Pharmacist Compounding Competition 2017: University of Texas at Austin W...
Apr 19, 2017 Omnicell Acquires InPharmics
Apr 18, 2017 RED HOT Savings - $6,000 OFF Pharmacy Software License!
Apr 13, 2017 CAM Commerce Receives PCI QIR Certification
Apr 12, 2017 SuiteRx Obtains PrescribersConnection's Long Term Care 10.6 Certification
Apr 04, 2017 Comprehensive Pharmacy Services Announces Strategic Acquisition of PharmaSource
Apr 04, 2017 Tutela Welcomes Finch Therapeutics, Inc.
Apr 04, 2017 TCGRx Announces the Acquisition of Integration and Automation Solutions
Mar 29, 2017 Medi-Dose/EPS Announces Expansion of its IV Accessories Product Line
Mar 29, 2017 Asembia Opens New Office Location in Nevada
Mar 28, 2017 JACKPOT- $6,000 OFF Pharmacy Software License
Mar 23, 2017 Tutela Adds Multi Point Calibration to ISO17025 Accreditation
Mar 16, 2017 PharMEDium Earns Second Consecutive Center of Excellence Recognition from Benchm...
Mar 14, 2017 RXinsider Launches DEA Take-Back Day Promotional Package
Mar 02, 2017 Get Paid Easily by Patients as SuiteRx Partners with AR Proactive
Mar 02, 2017 All MEDISCA Facilities are VAWD Accredited
Mar 02, 2017 FDS, Inc. Announces New Executive
Mar 02, 2017 Medi-Dose® / EPS® Announces New ENFit™ Compliant and Compatible Products
Mar 01, 2017 South Carolina’s Third-Largest Privately Held Company Announces New CEO
Feb 28, 2017 Empowering Pharmacists to Go Beyond - 2017 ASCP Forum
Feb 22, 2017 Akro-Mils Announces Online Blog
Feb 22, 2017 Audits with SuiteRx Intelligent Pharmacy Software (IPS) is Worry-free!
Feb 21, 2017 myDataMart Integration Now Available with New Leaf Rx® Pharmacy Software
Feb 17, 2017 Helmer Scientific Expands Feature Set of the i.C3® Information Center
Feb 16, 2017 QUALIFIED PERSON CERTIFICATION PROGRAM FOR 503A AND 503B PERSONNEL
Feb 15, 2017 SuiteRx Intelligent Pharmacy Software (IPS), the Pharmacy Software You’ll Love
Feb 13, 2017 Contec Healthcare Introduces CritiGear™ Chemo Gowns for USP <800> Compliance
Feb 09, 2017 A Cyberattack Can Destroy Your Business. Are You Prepared?
Feb 08, 2017 You Asked, SuiteRx Listened

RXinsider Product Overview Videos