RCM Software + MobilePay a Winning Combination

Revenue cycle teams need more than just RCM software to collect payments from patients effectively. That's where CueSquared's MobilePay comes in.

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Patients love using CueSquared MobilePay because it is so easy

Making Patients Payments Easy for Innovative Healthcare Systems

Albany Medical Center
Baptist Health
Beth Israel Lahey Health
Main Line Health
Mount Sinai
Evergreen Health
“Patients don't have to go to a portal to pay their bill. You can do it right through a text. It’s a huge patient satisfaction driver for us.”
Philip Boyce
Chief Revenue Officer, Baptist Health
“We’re saving thousands of dollars a week just by not printing statements. It's difficult to quantify the entire impact MobilePay has had on our revenue cycle.”
Drew Smith
Director of Revenue Cycle, Main Street Family Care
“MobilePay holds the record for fastest and easiest rollout in 31 years of working in health IT.”
Ed Peterson
Director of Billing Operations, Mount Sinai Doctors
Superior Patient Payment Experience

Superior Patient Payment Experience

There is no application to download, no portal to log into, and no paper statement to reference; patients simply and securely receive text statements and make payments through a 1-Touch Payment button. The branded logo signifies the bill is coming from the patient’s healthcare provider, not a third-party company. Additionally, contact information within the CueSquared payment screen leverages existing call center infrastructure instead of replacing it.

Measure AR in Hours Not Months

Measure AR in Hours Not Months

Say goodbye to AR buckets of 30, 60, or 90 days. Because of the intuitive payment experience, revenue cycle teams collect approximately 80% of dollars within 14 days of the first text message, with day one payments accounting for 30% of dollars on average. Patients will quickly pay outstanding balances that are small copays, large bills, and even aging balances of 120 days+ that would typically go to collections from the moment they receive their first text message. All of this can be measured and tracked in our actionable payment dashboard.

 Strengthen the Call Center and Reduce Costs to Collect

Strengthen the Call Center and Reduce Costs to Collect

By automating this first touch patient payment channel and reconciling outstanding balances within days, both printed paper statements and call center volume decreases. Additionally, patients with questions on their bills can easily contact the call center to settle bills with a live person or update their insurance information to properly adjudicate claims.

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RCM Software Healthcare

If you are looking for a better way for your hospital to collect payments from patients, then it is important to modernize your bill collection system. There is a good chance that your hospital system is still sending physical bills in the mail to your patients. Or, you may have a call center that is responsible for calling patients, hoping they answer the phone even if they do not recognize the number. The reality is that you may be able to collect money from a higher percentage of your patients if you simply made it easier. That is where a modern RCM software healthcare option, such as CueSquared can be helpful.

RCM stands for revenue cycle management, and you may be wondering, what is RCM? This is the process of managing an entire encounter from patient from intake to payment. The RCM industry has grown quickly, and there are plenty of RCM softwares available. Therefore, you need to carefully evaluate all options available so you can find the best one to meet your needs. If you want to reduce your overhead expenses and collect payments on a higher percentage of your bills, then you need to use an SMS payments system such as the option from CueSquared. With Direct MobilePay from CueSquared, you can make it as easy as possible for your patients to pay their bills. They do not have to worry about locking in, they do not have to worry about downloading an application, and they do not have to worry about putting a physical check in the mail.

When compared to the other options that are available in the industry, it doesn’t get much easier than this. RCM software was built for collecting insurance payments, not for collecting payment from patients directly. Because a significant portion of hospital bills are being paid directly by patience, you need to make it as easy as possible for your patients to pay their bills.

RCM Software Vendors

Healthcare systems are growing rapidly, and it is not unusual for a single system to use multiple RCM software vendors. There are plenty of examples out there, including Waystar, R1 RCM, Epic, Cerner, and even WebSys. Even though all of these programs have their benefits and drawbacks, one of the common issues that care providers encounter is that these systems do not talk to each other. Therefore, it can be difficult to make sure everyone has access to the same information. This can make it difficult for hospital systems to make decisions regarding patient care, and it can be difficult to collect payments from patients.

As a result, there are a lot of hospital systems that are hesitating to introduce another system to the mix, such as CueSquared. The reality is that CueSquared is RCM software agnostic. The system has been specifically designed to integrate with all of the leading vendors on the market. Therefore, it is possible to get the system up and running to collect patients from payments in as little as for weeks. Hospital systems do not have to worry about taking an entire year, relying on experts from the company to train everyone on a new system. It is possible to get Direct MobilePay up and running without disrupting any of the operations at the hospital. The entire goal of this software program is to reduce friction between the patient and the hospital system.

RCM Systems

Even though there are a lot of changes taking place in the world of help here, RCM systems are still important. Therefore, it is important for Hospital Systems to find the right RC and platform to meet their needs. If you are wondering, “what is RCM software,” this is revenue cycle management technology. This is a program that has been specifically designed to track every patient encounter from intake to payment. That way, hospital systems can streamline the collection process, making sure they are paid for the services they provide.

RCM systems are still important, but there are ways to reduce their expenses. For example, hospital systems can take advantage of the services provided by CueSquared. This is a program that has been specifically designed to cut costs in several ways. These include:

  • Hospitals do not have to worry about sending out as many paper statements to their patients.
  • Hospital systems can also reduce the number of people they have in the call center, helping them save money.
  • This system can also integrate payment posting using an automated system. Therefore, hospital employees are able to spend their time focusing on other areas.
  • Finally, hospital systems are also able to save money because they do not have to rely on collections agencies as much.

These are just a few of the many ways that hospital systems can take advantage of an SMS payments system to reduce their overhead expenses. Then, medical organizations are free to spend this money elsewhere. They might be able to hire more staff, or they might be able to purchase new equipment.

Types of RCM Software

Because RCM software programs are so important, there are many medical organizations that are looking for the best RCM software available. Even though it is possible to find an RCM software free download, it is more important to find the best program available. Due to the RCM growth rate, there are numerous types of RCM software programs available. They all have their benefits and drawbacks, so hospital systems need to think carefully about what they are looking for in their programs.

RCM software programs can perform a wide variety of functions. They can handle eligibility verification, pre-authorization steps, claims submission tasks, and denial management. All of these functions are directly related to collecting insurance payments from large companies, which is important.

On the other hand, a lot of these programs are not going to be helpful when hospital systems are trying to collect money from patients. Today, revenue cycle management teams need to find a way to collect payments from patients as well as insurance companies. With a larger percentage of bills being paid by patients directly, it is critical to make this process as easy as possible for patients. That is why it is a good idea to take a closer look at an SMS payment system. If you are able to take advantage of all of the features provided by CueSquared, you might be able to dramatically increase the percentage of your bills that are paid on time.

Top 10 Healthcare Revenue Cycle Management Companies in USA

If you are looking for a list of the top 10 healthcare revenue cycle management companies in USA, you will quickly realize there are plenty of revenue cycle technology companies available. When you look at the top 10 healthcare revenue cycle management companies, you will see a lot of familiar names. A few of the top examples include Cerner, MTBC, Parathon, and Signature Performance. When you look at the list of medical billing companies in USA, understand that a lot of them perform the same tasks. As your hospital system and grows, you may need to replace these solutions because they do not necessarily scale with your company.

As you take a look at these options, remember that many of these companies have been specifically designed to help you collect payments from insurance companies. They are not necessarily going to help you collect payments from patients, which is important when it comes to revenue generation. As a result, you need to find a software program that is going to specifically help you make sure you can collect money from your patients.

This is another area where CueSquared can help you. Even though you might be tempted to send your unpaid bills to collections, remember that the collections agency is going to take a percentage of your money. A lot of patients have not paid their bills because it is not convenient for them. If you give your patients the opportunity to pay their bills using a text message, you may find that more of your patients are paying their bills without you having to send them to collections.

RCM Solutoins Healthcare

When you take a look at RCM solutions healthcare, understand that there are numerous RCM cycle steps. While there are a lot of revenue cycle management solutions out there, you need to make sure you can adequately interpret RCM reports. RCM solutions are important because they can help you streamline your daily operations. Sadly, a lot of these systems do not collect payments from patients.

When Healthcare facilities struggle to collect payments from patients, it can be expensive to chase down patients. Today, consumers prefer to pay their bills digitally, so you need to use an SMS payment solution that makes it as easy as possible for them. With CueSquared, your patients do not have to download an app, they do not have to log in, and they can pay their bills with a single touch.

Examples of RCM Software

When you take a look at revenue cycle management resources, you will find plenty of examples of our CM software. An RCM cycle solution may use phone calls or paper statements even though they use a digital software program. None of these solutions have been designed to meet the needs of your patients. Imagine purchasing something online only to get a paper bill in the mail. This is unacceptable.

If you want your patients to pay their bills, you need to make it easier for them by giving them a digital solution. CueSquared can open this door for you and your patients, allowing you to streamline your revenue collection processes.

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