NASHVILLE —RevSpring, the leading provider of healthcare engagement and payment solutions, announced today the expansion of its True AccessTM platform including additional patient access tools to establish clear patient financial expectations. Other benefits—faster registration times and reduced payer denials—also augment RevSpring’s EngageIQTM platform capabilities, which coordinates patient interactions from preservice to post-service engagement.
True Access now includes eligibility and address verification, medical necessity and prior authorization processes. These functions—together with True Access’ existing functionality of a more accurate estimate, state-of-the-art payment tool and a self-service patient experience to align with the staff-facing tool—align patient and staff experiences to increase front-end collections and increase patient satisfaction levels.
“The RevSpring preservice advantage is the powerful synergistic combination of our True Access patient access tools with our ArrivedPatient Intake engagement solution for patients,” said Howard Bright, RevSpring CTO & vice president of patient engagement and analytics. “Most vendors serve only one side well. RevSpring combines the power and intelligence of both for a connected preservice experience benefitting both patients and the staff that serve them.”
These tools help healthcare organizations achieve the following goals:
- Increased front-end collections
- Reduced days in accounts receivable (AR)
- Establishment of clear patient financial expectations
- Faster registration times
- Increased patient satisfaction levels
- Reduction in payer denials
- Operational improvements and overall cost savings
The new True Access platform provides fast, simple and accurate resolution of all patient accounts prior to, or at the point of, service—no matter whether or not patients are insured, uninsured, underinsured and/or qualify for financial assistance.
In addition to coverage determination and verification, True Access prepares patients for their financial responsibility by enabling them to pay precisely what they can, when they can, from anywhere. Patients are supported by empowered staff who use intuitive workflows and a modern user interface to manage registration.
True Access is fully integrated into RevSpring’s Engage IQ™, an intelligent, wholistic engagement platform that coordinates patient interactions from pre-service to post-service to payment.
Research supports the need for Engage IQ’s empathetic approach. In RevSpring’s 2023 Voice of the Patient Survey of 1,000 U.S. patients 64% said they were more likely to pay on time when their provider gave them an estimate in advance.
In a recent survey commissioned by AKASA, 556 chief financial officers and revenue cycle leaders at hospitals and health systems across the United States ranked the most time-consuming revenue cycle tasks at their organizations. Topping the list are denials management and prior authorizations—areas addressed by the expanded True Access tool.
RevSpring leads the market in engagement and payment solutions that inspire patients to participate in and pay for their healthcare. The company has built the industry’s most comprehensive and impactful patient engagement suite, spanning the clinical, administrative and financial experience. RevSpring’s OmniChannel communications and payment solutions are backed by behavior analysis, propensity-to-pay scoring, contextual messaging, and user experience best practices. Using proprietary data analytics to tailor the engagement from preservice to post-service to payment, RevSpring improves the patient experience and outcomes for providers, members and patients. To learn more, visit revspringinc.com/healthcare. Follow us on LinkedIn and Twitter.