Conifer Health Solutions Webinar to Discuss Its Unique Process for Predicting Future Patient Payment Outcomes
FRISCO, Texas--(BUSINESS WIRE)-- As hospitals and healthcare systems struggle to make every dollar count in today’s economy, too many of their business offices are relying on a patient self-pay collection strategy that resembles some version of "dialing for dollars." They contact every patient who has an outstanding balance in the same way with the same frequency and approach. But there is a better way.
Conifer Health Solutions has developed and implemented a patent-pending process called MicroSegmentationSM that reviews account and insurance data, credit report information and census bureau statistics to predict future payment outcomes and maximize yield for its client hospitals. Conifer Senior Vice President of Operations Jeffrey M. Nieman will reveal how this unique, data-driven decision engine works during an upcoming executive webinar, “Predict Future Payment Outcomes and Maximize Yield with Data-Driven Collections.” The event will be held on Thursday, June 3, at 12 p.m. CDT, and is being sponsored by Healthcare Finance News and TransUnion.
During the webinar, Nieman will describe how the MicroSegmentationSM process assigns self-pay accounts into 15 proprietary segments based on multiple variables, each of which uses a targeted work effort designed to maximize both collections and the customer service experience the patient receives. He will also highlight how the process has helped Conifer:
- Predict with 99.9% accuracy the 30% of the population that will not pay, regardless of the level of work effort invested in the accounts;
- Predict with 99% accuracy the 30% of the population that will pay with minimal work effort; and
- Direct its intensive work effort on the remaining 40% of the population for which there is payment uncertainty and greater likelihood that focused contact will improve collection results.
For more information and to register for the webinar, visit the Healthcare Finance News Web site.
About Conifer
Conifer Health Solutions provides Revenue Cycle and Patient Communications services to more than 100 hospitals and health systems nationwide. Conifer utilizes proprietary workflows and technology to offer comprehensive Revenue Cycle Solutions ranging from patient pre-registration through the processing of governmental, managed care and self-pay claims. The company also provides best-in-class Patient Communications services that include physician referrals, patient education, marketing services and pre-admission clinical appropriateness reviews.
Born from healthcare, Conifer Health Solutions is headquartered in Dallas, Texas, and employs more than 2,200 people. For more information, call 1-877-CONIFER or visit the company’s Web site at www.coniferhealth.com.
Conifer Health Solutions, Inc. is a wholly owned subsidiary of Tenet Healthcare Corporation (NYSE:THC). Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties, certain of which are discussed in Tenet’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended Dec. 31, 2009, quarterly reports on Form 10-Q, and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
CONTACT:
Conifer Health Solutions
John Hoffmann, 972-335-6104
[email protected]
KEYWORDS: United States North America Texas
INDUSTRY KEYWORDS: Technology Data Management Software Health Hospitals Professional Services Accounting
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