San Francisco, CA. — March 24, 2011 — CarePayment®, an innovative patient loyalty and payment program, today announced that it has launched a proprietary, business intelligence portal that will provide its partners (US Hospitals and Health System) with unprecedented visibility into the performance of their patient-pay portfolio.
"Through this portal," said CarePayment CEO Jim Quist, "we are providing our partners with the tools to drive a more analytical, decision-making process while also holding ourselves accountable to exceptional performance." The ASP-based analytics engine will allow providers to report on, analyze and manage their self- pay receivables with greater clarity and precision. Not only do providers have access to an array of financial performance indicators but they can also measure patient satisfaction with respect to the CarePayment Program.
CarePayment partners have commented that this analytics engine influenced their decision to partner with CarePayment. Chris Chen, SVP of Marketing commented, "our partners are telling us that the portal differentiates CarePayment from other solutions. While our partners are interested in how the CarePayment Program attracts new patients and provides financial lift, they also gravitate towards our technology enabled portal because it drives operational efficiencies and transparency. From the CFO to the business office, the CarePayment Program delivers value to all stakeholders."
CarePayment partners with hospitals and health systems to empower their patients to pay their medical bills over a 25-month period at a 0.0% Annual Percentage Rate. CarePayment currently serves 55 hospital partners with dozens more in line to strike a deal.
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Established in 2004, CarePayment helps patients pay their medical bills over time at a 0.0% Annual Percentage Rate by offering a hospital branded loyalty card. This innovative approach has proven to enhance the patient experience while simultaneously improving collection rates for the hospital. Many of CarePayment's hospital partners experience a double impact to their bottom line: one from the reduction in bad debt and the other from additional revenue as a result of repeat visits. For additional information, please call (800) 316.4350 or visit www.carepayment.com.