Step One - System Integration

The foundation of the Cash Acceleration System starts with system integration. Our IS professionals will assist in creating bi-directional interface between your patient accounting system and the Cash Acceleration System by mirroring pertinent information on the two systems.

Presently, our Cash Acceleration System fully integrates with Affinity, CPSI, HMS, Meditech and Paragon. System integration ensures electronic subission of new accounts, payments, adjustments, and notations made on both systems.

Outsourcing is defined as "contracting for services historically performed in-house." Generally, to be successful, there is no impact on the user of the service. EMA designed its Cash Acceleration System to meet these principals. Consider the work with (and without) daily data exchance. Outsourcing typically involves about 5 times the number of accounts that are sent to collection. The resolution rate is generally 4 times the typical bad debt collection rates. This implies 20 times (5 times the volume X 4 times the resolution) the amount of payment verifications and payment reports currently experienced with a hospital's bad-debt collection agency.

Step Two - System Design

All accounts entering the Cash Acceleration System will have an Action Plan associated with them. Based on balance and financial class, Action Plans are used to ensure all accounts are handled appropriately. Action Plans are tailored to meet each hospital's specific needs and can be changed in a moment's notice from the client at any time during the program.

Prior to implementation, an EMA representative will meet with hospital management to assist in the development of their customized Cash Acceleration program. Flowcharting account progression, each financial class will be assigned an Action Plan, determining the tactical plan for Patient Friendly Bills, follow-up letters, and phone campaigns. Sub-Action Plans can also be assigned to accounts requiring additional follow-up after a Financial Assistance application is sent, or a promise to pay in full has been made.

With the assistance of an EMA representative and the approval of hospital administration, all written correspondence will be designed to incorporate the hospital's logo and identity. Patient Friendly Bills will begin with an explanation of why the patient is receiving a bill. All charges, payments, and adjustments will be summarized in clear, understandable terminology - not medical jargon. The bill will also clearly illustrate prompt payment discounts if applicable and contain instructions to the patient of how to respond to the bill. Patient Friendly Bills can also be viewed via the internet through billVISTAT at any time during the patient billing process. Subsequent follow-up notices will also begin with an explanation of the status of the patient's account and an explanation of the hospital's expectation regarding payment and/or contact.

To ensure that all phone calls are handled in a consistent manner with the hospital's credit policies, phone scripts will be developed by an EMA representative with the assistance of hospital administration. Each Action Plan will have a unique phone script associated with them addressing the account status.

Step Three - System Implementation

We stand by our work 100%. Each client's Cash Acceleration Program is monitored on a daily basis by a Cash Acceleration supervisor and on a weekly basis by management. A client service executive also reviews each program's performance quarterly with appropriate management at the hospital. Quarterly meetings include comprehensive reporting of the hospital's Cash Acceleration Program performance.

On a monthly basis, clients receive five standard reports which illustrate the effectiveness of their Cash Acceleration Program. The standard Cash Acceleration reports illustrate information such as: cost of recovery, percentage of accounts resolved, aging of account resolution, analysis of activity and benchmarking for comparative analysis regionally and nationally.

Customized reporting is also available at no additional cost. Custom reports are available on demand daily, weekly, or monthly and can be sent in either hard or soft copy. Customized reporting can include any statistical information regarding account activity to provide feedback to patient access and third party billing for process improvement.

The System Pays for Itself!

Through a combination of improved receivables yield and increased opportunity for process improvement, The Cash Acceleration System literally pays for itself while adhering to Best Practices.

At no cost or obligation, an EMA representative will conduct an in-depth analysis of your continuing payment arrangements and provide your hospital with a comprehensive proposal illustrating how the system will work for your hospital effortlessly and efficiently.