PatientPay, the leading patient payments partner for acute, ambulatory, and specialty care, announced a partnership with SlicedHealth, a team of experienced healthcare industry veterans providing healthcare technology solutions. These solutions aid community and rural health systems, specialty group practices, and ambulatory surgery centers in tackling challenges like narrow margins, escalating labor expenses, and overall rising costs, which contribute to revenue loss. This partnership offers eligible facilities a secure and efficient method to accelerate payments, lower collection expenses, and enhance the patient experience – ultimately resulting in higher collection rates.
“At PatientPay, we guarantee that our clients increase payment rates by a minimum of 25%. Our ability to accelerate the time to collect payments and significantly reduce administrative oversight is a big reason why many facilities continue to trust us”
“SlicedHealth helps organizations find the money they’re missing. We understand the imperative for organizations to accelerate cash flow, reduce costs to collect, and provide consumers with the type of payment experience they’ve come to expect in other areas of their lives,” says Reed Liggin, CEO of SlicedHealth. “We’re thrilled to partner with PatientPay to offer our clients another layer of financial services that will help protect their revenue.”
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By partnering with PatientPay, facilities leveraging SlicedHealth will now have access to PatientPay’s platform, further enabling:
- A streamlined billing experience for patients
- Increased payment rates by a minimum of 25%
- Improved operational efficiency through digitization and automation processes
- Reduced days in A/R and decreased balance write-offs
- Lower collection costs stemming from the move away from inefficient, paper-based processes
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According to a recent KLAS report, nearly two-thirds of providers are outsourcing their revenue cycle management due to labor shortages. SlicedHealth’s fast time to value and end-to-end support from admission to payment provide the basis for discovering, uncovering, and recovering more revenue. To date, SlicedHealth has analyzed over $3.0 billion in claims and uncovered hundreds of millions in denials and underpayments for its customers.
“At PatientPay, we guarantee that our clients increase payment rates by a minimum of 25%. Our ability to accelerate the time to collect payments and significantly reduce administrative oversight is a big reason why many facilities continue to trust us,” says Tom Furr, CEO of PatientPay. “We’re proud to join forces with SlicedHealth to provide specialty groups and health systems the ability to vastly increase patient payments and optimize their overall financial strategy.”
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