Two heavy hitters in the healthcare industry--UnitedHealth and Mayo Clinic--are partnering on revenue management to boost patient experiences and lower costs.
UnitedHealth's Optum360 unit and Mayo Clinic are aiming to improve their interactions. The two companies will also streamline the prior authorization process, enhance claims editing functions and simplify administrative billing.
By simplifying and improving the path to quality care and patient interaction "we will create a patient financial experience that is on par with Mayo Clinic's exceptional patient care experience," Optum360's CEO Ron Jones said in a statement.
Mayo calls it a next-generation patient cost estimator.
"Wouldn't it be nice if we could use computer technology to help estimate the cost of a procedure, factoring in the patient's insurance," Sandhya Pruthi, Mayo Clinic's medical director for patient experience, said in the statement. "Not only what they would owe, but also what their insurance would cover and what would be their copay."
With this deal, UnitedHealth is "trying to make headway in that market," Ana Gupte, an analyst with Leerink Partners, told the Star Tribune.
To learn more:
- see the Optum360/Mayo Clinic statement