Cerner partners with Simplee on price transparency
Cerner is working with Simplee, a developer of SaaS-based patient financial experience tools, to offer consumers a more transparent and personalized healthcare billing process.
WHY IT MATTERS
Through the partnership, Cerner will add Simplee's Patient Financial Engagement platform to its revenue cycle portfolio and integrate the platform into its consumer-facing technology.
The aim is to help improve patient trust through a more consumer-centric experience that lets care recipients better understand the billing process and help make patients aware of their financial responsibility earlier in the process.
The Patient Financial Engagement platform is based on a single user interface for both patients and providers, and allows users to check their account on desktop computers as well as mobile devices.
THE LARGER TREND
As a whole, healthcare billing offices are given mediocre marks from patients, according to an October 2018 survey conducted by Connance. The survey also indicated negative billing interactions affect payment, with patients who are “very dissatisfied” with business office interactions more likely not to pay their bill willingly.
In June 2017, Simplee commissioned Forrester Consulting to conduct an economic impact study and examine the potential return on investment that healthcare enterprises might realize by deploying its platform; key results were increased self-pay, reduced cost per payment, and reduced support and complaint call volume.
Revenue cycle management technology is at the heart of the administrative side of business at every hospital and health system, and the identification of deficiencies in its process – followed by an implementation of right technology to improve efficiency and optimize workflow – can go a long way to improving the bottom line.
When implementing new technologies, including for revenue cycle management purposes, be sure to thoroughly understand their capabilities and limitations, and there are several best practices to maximize an organization’s benefit from these new technologies.
Data analytics and artificial intelligence technology are two areas that also show promise for improving RCM. In June, for instance, Change Healthcare debuted new AI tech to help reduce denials, and a month later Waystar acquired Digitize.AI, a prior authorization platform developer that uses real-time analytics and machine learning to automatically check for new cases and securely submit them directly to payers.
ON THE RECORD
"Adding Simplee's expertise in consumer-friendly billing helps Cerner simplify this part of the healthcare experience through third-party innovation," said David Bradshaw, senior vice president for Cerner’s consumer and employer solutions, in a statement. "This relationship will help drive a transformation of the billing and payment process and help providers give consumers more convenience in health care."
"We are committed to helping produce better financial and medical outcomes through a trusted, transparent and convenient experience for health care billing and payments," added Simplee CEO Tomer Shoval in a statement.