It tells patients exactly what they owe and when they owe it, then provides online management tools and financing options.” Increases in patient obligations means healthcare systems need to make billing more user accessible.Īccording to Venture Beat, iVinci Health is “launching a new patient portal, called the VisitPay Portal, which hospitals can use to simplify the selection, financing, and billing of health services for their patient customers. IVinci’s new patient billing and revenue management tool comes at a time when the proliferation of high-deductible health plans have increased patient obligations from less than 5 percent of health systems’ revenue to a whopping 20 percent in just a few short years. That percentage is predicted to increase as more costs are shifted to patients through higher deductibles. It is a sea change that has profound financial impacts for both patients and health systems.Ĭurrent revenue cycle management (RCM) systems were designed to track claims and optimize payments by third-party insurers. Solutions like online bill pay and recourse finance are fragmented and incomplete. Worse, all too often, they turn a positive patient care experience into a negative one. To respond to the changing healthcare payments landscape, iVinci is attempting to make healthcare billing more consumer friendly, and it closed $5 million in new funding earlier this month to support those efforts. More London Day Trips: Exploring Kent with Dr. The new round of funding included investors such as Intermountain Healthcare, Inova Health System, and St. Reinventing Art: Leonardo da Vinci and Pablo Picasso with Dr. "iVinci provides effective solutions that help us work with our patients to manage their obligations because they simultaneously provide our patients with easy-to-use online tools for managing, paying and financing their healthcare bills.” "We find that patients are becoming increasingly challenged by health plans passing a higher percentage of each final bill onto them for payment," said Dr. IVinci Health's CEO, former Capital One executive Kent Ivanoff, believes the market is primed for a solution that addresses the collection of patient balances and delivers a substantially more consumer-friendly online experience to healthcare billing. The event culminated with a string of Glow Sticks, illuminating each individual’s contribution to a team that will start the 2015 – 2016 year in the brightest of light.īy our charter, One Stone’s Board of Directors comprised of 2/3 student and 1/3 adult membership."With the rise of high deductible plans and the corresponding rise in patient financial responsibility, there will be unprecedented demand for a different billing experience – one that's on par with other consumer-driven markets. The teams had a fierce competition going on during the day, but at night around the campfire everyone came together to share their big ideas and hopes for the coming year. When not in neck-and-neck competition mode, people were in the water, cheering on first-time wake boarders and wiping out on tubes pulled over wakes. One Stone Board members and staff trekked off into the mountains of Idaho for three days for this year’s Board retreat, themed The Amazing Retreat! In the tradition of the Amazing Race, students broke into teams to take on challenges that ranged from one minute One Stone pitches, to Flags of the World identification competition, to on-the-spot team cheers.
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