T-System and PayRight Health Solutions Partner to Help Emergency Departments Streamline Point-of-Service Collections
Patient-Centric Solution Generates New Opportunities to Improve Revenue
DALLAS, TX--(Marketwire - Jan 22, 2013) - T-System, Inc., and PayRight Health Solutions announced today a partnership to help improve patient collections in the emergency department (ED) at the point-of-service. Under this exclusive agreement, T-System will be the only ED vendor to incorporate and sell PayRight Health Solutions' advanced cloud-based technology. This technology will become an integrated part of T-System's RevCycle+™ solution, a comprehensive emergency medicine solution encompassing facility coding, physician coding and billing, and consulting services.
The partnership will help EDs and physician groups reduce the high cost associated with collecting payments and create significant new revenue opportunities. According to a recent McKinsey report, consumer bad debt continues to rise with more than $65 billion in uncollected revenue in 2010. And the highest increase in bad debt comes from the remaining amount that insured patients don't pay when their insurance company only covers part of the bill.
"While point-of-service collections systems are becoming more well-known in hospitals and ambulatory care settings, the technology remains relatively uncommon in the ED where the rate of uncompensated care is at its highest. PayRight Health Solutions is the ideal partner to work with to bring this technology to a department where the need is so great," said Sunny Sanyal, T-System chief executive officer. "This partnership will strengthen T-System's revenue cycle management capabilities by providing our customers with an integrated solution that streamlines up-front ED payment collection."
Sanyal added that this technology will enhance the patient experience. "Patients will enjoy easy-to-use technology that will help them better understand their financial obligations," he said.
"We are pleased to formalize this partnership with T-System to help emergency departments provide their patients with more convenient and cost effective payment options at the point-of-service," said PayRight Health Solutions Chief Executive Officer Jim Bridges. "Traditional approaches to patient collections allow money to walk out the door. EDs have a particular problem with collections and we are excited to partner with T-System to address this problem."
About T-System
T-System, Inc. advances the practice of emergency medicine with solutions proven to solve clinical, financial, operational and regulatory challenges for hospitals and urgent care clinics. Approximately 40 percent of the nation's emergency departments leverage T-System solutions to provide an unmatched patient experience. Through gold-standard documentation, revenue cycle management, and performance-enhancing solutions, T-System optimizes care delivery from the front door through discharge and beyond. Over 1,900 hospitals rely on T-System solutions. For more information, visit www.tsystem.com, follow @TSystem on Twitter, or become a T-System fan on Facebook.
About PayRight Health Solutions
PayRight Health Solutions provides cloud-based, workflow-driven solutions for patient collections. PayRight Health Payment Manager enables providers to determine patient eligibility and charity care status in real-time, estimate patient responsibility before or during the point of care, and present patients with tailored payment options. PayRight's approach improves patient education, increases payment choices and improves compliance. PayRight Health Payment Manager is proven to increase the amount of money collected from patients, reduce Day's Sales Outstanding and bad debt, and lower transaction processing costs. For more information, call (888) 274-1359 or visit www.payrighthealth.com.
