IBJI Chooses Health iPASS to Help Optimize Patient Payments and Promote Price Transparency
Health iPASS is excited to announce our newest partnership with Illinois Bone and Joint Institute (IBJI), one of the largest orthopedic group practices in Illinois. Our team has been working hard to develop this relationship, and we are proud that a market mover such as IBJI has selected us as their patient revenue cycle solution.
IBJI offers a full range of musculoskeletal care including advanced MRI imaging, pain management care, non-surgical and surgical treatment plans, rheumatology, rehabilitation, wellness and sports training. OrthoAccess walk-in clinics provide same-day immediate care. With over 100 board-certified physicians representing every orthopedic specialty, IBJI is a one-stop shop for child and adult patients.
For such a large-volume group practice with multiple ancillary revenue streams, it was essential to automate their patient revenue cycle, not only to collect more from patients, but to optimize the patient experience. Modern healthcare consumers want to know what they owe before, at, and after their provider appointment, and they want flexible and convenient payment options. We may have mentioned these statistics once or twice before, but with over 40 percent of Americans enrolled in high-deductible healthcare plans (HDHPs), and a 45 percent overall increase in patient financial responsibility, many providers are seeing the writing on the wall that it’s time to abandon traditional payment models in favor of more efficient solutions.
Health iPASS delivers the features and functionality providers need to update their current patient payment model and to proactively future-proof their practices for coming changes in the industry due to the rise of healthcare consumerism and the governmental push for greater price transparency. By providing cost estimates pre-arrival, at time-of-service, at claim submission, and pre-surgery, Health iPASS empowers patients to make informed healthcare decisions.
While Health iPASS does a lot on the patient experience end, it’s really about what we can do for providers like IBJI. Our recent analysis of our client ROI has revealed Health iPASS clients are realizing an average 97 percent residual balance collection rate when patients check-in and keep a card-on-file via the Heath iPASS platform. When you consider this newest research alongside our previous impressive statistics of a 90-95 percent patient net collection rate, and a 50 percent decrease in claims denials, it is easy to see that Health iPASS is the clear patient RCM partner choice for savvy providers who want to optimize their revenue cycle.
We whole-heartedly welcome IBJI to the Health iPASS family, and we encourage you to schedule a demo to see what Health iPASS can do for your practice.
For more information on this partnership, check out our news release!