Health-PayPro Patient Financing

Health-PayPro is a combination patient credit and software product offering from Regions Financial, the 13th largest retail bank in the nation, and ARGO, a long-standing healthcare and financial services software/services provider.
Enhances Flow of Funds, Determines Payment Options
With patients paying more of their healthcare costs out-of-pocket, healthcare organizations are looking for solutions to help them:

    • Assess patient’s ability to pay
    • Improve patient satisfaction
    • Maximize revenue opportunities
    • Improve cash flow
    • Decrease bad debt
    • Minimize administrative expenses

With Health-PayPro, providers improve the flow of funds by determining payment options for patients and providing flexibility to extend real-time credit to patients for out-of-pocket costs at the point of registration. Providers achieve revenue cycle optimization by securing a greater percentage of the patient portion up front and throughout the collection process.

Enriches Revenues and Patient Experience
The Health-PayPro solution helps match a patient’s ability to pay with an affordable payment program, bringing peace of mind to the patient. At the same time, the solution maximizes revenues and diminishes bad debt for accountable care organizations, hospitals, and provider organizations.

The goal is to give patients a way of extending their payments over time, while reducing the healthcare organization’s administrative burdens associated with billing and collections. The solution leverages ARGO’s more than 30 years of industry expertise in lending, third-party origination, and online banking to help solve the problem of collecting patient payments for healthcare services.

Streamlines Billing and Collections
To streamline billing and collections, Health-PayPro provides healthcare organizations with:

    • Actionable intelligence at the time of registration on a patient’s ability to pay for services
    • Patient-specific recommendations for payment terms
    • Integration to lending institutions for patient loan requests, loan closings, and loan funding

In today’s healthcare environment, providers call for predictable revenue streams because much of the revenue streams are lost on high-deductible or underinsured accounts. Using Health-PayPro, providers align services and cash flow with the patient’s ability to pay for services provided.

The solution integrates to the HL7 financial patient record, extracting patient demographic information from the registration process whether in an emergency department or at a patient financial services desktop or bedside laptop. In addition to the data in the HL7 financial patient record, the solution considers other data elements including provider and financial institution payment record files, loss records, credit bureaus, and third-party public information repositories.

Here’s how Health-PayPro works:

The solution receives an estimated patient portion for planned services after checking Insurance / Medicare / Medicaid via an HL7 message.

The solution:
    • Compares the patient’s income and cost of planned services
    • Determines if the patient meets the provider’s eligibility for charity
    • Verifies whether the patient qualifies for an in-house payment plan, if offered by the provider
    • When the patient is not able to pay for services out-of-pocket and does not qualify for charity or an in-house payment plan:
      • Provider obtains consent from the patient to apply for a competitive payment plan and loan terms through Regions Financial. Through this process, the:
        • Loan application is received and underwritten by Regions in real time.
        • Patient is offered a payment plan and supporting loan agreement.
        • Loan agreement is accepted and closed via ARGO’s e-Signature capabilities.
Health-PayPro:
    • Integrates to existing registration software for direct access to loan origination activities
    • Includes management insight and reporting capabilities to track and understand activity pipeline, productivity, and performance
    • Provides a fast, accurate, and comprehensive solution to uncompensated service offerings

Bridges Gap, Minimizes Treatment Delays
Health-PayPro new and innovative approach bridges the cash flow gap for providers and patients alike. Providers capture millions of dollars in lost revenue, and qualified patients are not delaying in getting the healthcare services they need when they need it.

Delivers Competitive Lending Products
ARGO works with Regions Financial to provide healthcare organizations with a variety of in-house payment options and competitive lending products. Lending products vary depending on the negotiated arrangements made between the provider and Regions. Loan terms and supporting payment options are configurable within the Health-PayPro platform and are based on:

    • Overall credit worthiness of each loan applicant
    • Amount of financing required
    • Credit-risk tolerances of the participating providers and Regions