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Predictive Patient Payment Management

Predictive Patient Payment Management

Predictive Patient Payment Management

By Sift Healthcare

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Overview


Select which hospital or health system you work at and see a personalized match score.
About

DESCRIPTION

Sift’s AI optimizes both patient engagement and account resolution by integrating patient-specific collection strategies into existing workflows.

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CLIENTS OVERVIEW
Key Clients
Clients Your Size
USED BY
0 People
3 Organizations
EHR integration

Integrations:

Acute care EMR, Ambulatory EMR, Patient portal, Access +/or revenue cycle

EMR Integration & Relevant Hardware:

None provided

EMRs Supported:

Epic, Cerner, Meditech, Allscripts

Hardware Compatibility:

None provided

Description

For hospitals, it is 4x harder to collect from patients than insurance payers. Patients now make up to 30% of hospital revenue but are 4x harder to collect from than insurance payers1 due to complexity, regulation and patient means. 

Sift Healthcare provides advanced analytics and machine learning integrations to optimize patient payments. Sift combines patient payment expertise and AI-driven intelligence to equip providers with an integrated toolset to optimize patient financial engagement.

Patient collections should be a dialogue, not a solicitation. Sift integrates AI into your patient engagement platform to guide patient communications activities – maximizing collections while improving patient engagement.

  • Account Segmentation
  • Patient Contact Strategy
  • Payment Plan Provisioning
  • Improved collections, increased payment plan adoption, and reduced inbound/outbound calls

Propensity-to-pay for a person, not a number. Sift goes beyond credit scores, leveraging historical data to determine the best engagement approach for each patient.

  • Improved Patient Satisfaction
  • Pre-service patient financing and collection recommendations that help avoid surprises and set expectations
  • Lookalike predictive models, not credit scores and rule logic
  • Increased upfront collections with more empathy
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Use cases

Description

Sift's intelligence tools and integrated ML recommendations around patient payments enable health systems to:

  • Pre-clear patients upfront.
  • Get more patients on payment plans, earlier.
  • Execute omnichannel contact across the entirety of the patient journey.
  • Help patients commit to meeting their financial obligations before service.
  • Utilize an integrated view of insurance-patient responsibility to optimize resolution and present patient responsibility, early and more accurately.
COVID-19 use cases:

In the aftermath of COVID-19, it will be increasingly important for healthcare providers to be flexible payment partners. To do this effectively, predictive analytics around payments will be essential. Sift identifies who will struggle to pay, how to best structure payment plans for each individual patient, and best contact method and frequency for communication. All of these AI-driven recommendations are integrated into providers' existing revenue cycle workflows, making it easy to integrate a proactive patient payments strategy.

Users:

VP or Revenue Cycle, PFS executives, PFS team, SBO and CBO personnel, Patient Payment Collections Team

Differentiators

Differentiators vs Internal Options:
  • Unified and normalized data sets that are accessible and provide a full view of patient payment behavior 
  • Dynamic machine learning based workflows, rather than rigid rules-based logic
  • Intelligence that enables the most effective use of EHR functionality 
Differentiators vs Competitors:

None provided

Diversity, equity, and inclusion practices

DEI is short for diversity, equity, and inclusion. Learn more about DEI practices.
Product Design

None provided

Product Delivery

Engagement options

Company information

Founded in 2017

2.5M total equity funding

About AVIA Connect

AVIA Connect helps healthcare providers make better digital health vendor selections. Our AVIA Connect Marketplace enables digitally focused healthcare providers to search thousands of vendor profiles and match with vendors that meet their requirements.

AVIA Connect is a product of AVIA, the nation's leading digital transformation partner for healthcare organizations.

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