Catholic Health is an integrated health system serving the Long Island region in New York. It has 16,000 employees across six acute care hospitals, three nursing homes, a home health service, hospice and an extensive network of physician practices.
"Using InstaMed to initiate pre-service payments and patient engagement has helped patients understand their payment responsibility upfront and allow them to become more engaged patients post-service."
THE CHALLENGE
Financial leaders at Catholic Health recognized the need to modernize their patient payment journey. As a healthcare delivery system on Epic’s EMR platform, they decided to implement Epic Revenue Cycle and were looking for a payment partner who could offer more options for electronic payments. The organization placed a focus on the patient experience and understood that high functioning revenue cycle operations are part of that experience.
OUR
SOLUTION
The organization decided to partner with InstaMed to integrate payment technology into Epic. Catholic Health incorporated patient financial engagement into their pre-service touchpoints and saw results across multiple patient financial engagement areas, including pre-service collections, payment plans and self-service online payments via their Epic MyChart portal. RESULTS WITH INSTAMED
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collected pre-service in the first year with InstaMed
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$1M |
|---|---|
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greater average pre-service payment amount vs average payment plan or MyChart transaction amounts
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2-3x |
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increased installment payments made toward an outstanding balance
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102% |
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increase in the number of payment plans created
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50% |
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increase in MyChart payment volume from 2020 to 2021
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27.5% |
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increase in MyChart transaction volume from 2020 to 2021
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28% |