FINANCIAL ASSISTANCE SCREENING: HOW IT WORKS
PARO joins its charity analytics with a proprietary payment score that helps identify which patients are likely to make a payment and which patients should be extended financial assistance options. This predictive model, coupled with a basic questionnaire integrated into the (pre) registration process, enables ActiveASSIST to identify a likely prospect and route the patient history, visit information and electronic application forms to internal counselors or hospital-approved vendors for follow-up.
Quick Screens – basic questionnaires combined with the PARO presumptive charity result identify likely prospects for financial assistance early in the revenue cycle.
Plan Code Recommendations – recommended plan codes are presented to the registrar according to business rule selection and prioritization based on the “payer of last resort.”
Calculation of Charitable Co-Pay
Full Assessments – comprehensive interview captures detailed information in the facility, in the field, or at contracted vendor locations.
FINANCIAL ASSISTANCE WORKFLOW MANAGEMENT & REPORTING
Determining that a patient is a candidate for financial assistance is a key step in the process, but it is by no means the entire process. ActiveASSIST monitors progress and documentation requirements in order to escalate accounts that are not advancing at an acceptable pace. Tracking follow-up tasks ensures that accounts don’t age unnecessarily due to neglect. ActiveASSIST can enforce specific documentation requirements for each assistance program and flag and assign deficiencies to associates for resolution.
Additionally, ActiveASSIST can extend these same capabilities to a hospital’s vendors, enabling all participants to share information throughout the process. The hospital retains control of accounts and can quickly transition them from vendors back to internal counselors and managers.
As a patient advocacy tool that not only identifies financial assistance opportunities for patients but also manages the application process for them, ActiveASSIST can truly be described as “patient first” technology.