EXCHANGE EDI. Patient Responsibility Payment. Healthcare Cash Management. Improve Cash Flow Accelerate Payments Reduce Bad Debt

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1 EXCHANGE EDI Healthcare Cash Management Patient Responsibility Payment Improve Cash Flow Accelerate Payments Reduce Bad Debt

2 Patient Responsibility Payment Adopting a Point-of-Care (POC) patient payment model is the right conclusion to ensure your practice s long-term financial viability. It increases cash flow, reduces billing costs and minimizes patient bad debt write-offs. To accomplish this, providers must address the full range of patient financial responsibility components from deductibles, co-pays, and co-insurance to uninsured self-pay patients. CASH FLOW IS KING Patient responsibility account balances are a growing crisis in healthcare today. With dramatic increases in insurance deductibles and co-insurance, practices are assuming more patient responsibility credit risks and escalating bad debts. GET PAID Direct Quote is a complete suite of web based tools for financial triage Direct Quote manages and accelerates the flow of cash to the provider from the Point-of-Care through settlement and posting. Reduce billing costs and increase collections before the patient leaves the office. PATIENT SATISFACTION Patients don t like surprises. They appreciate knowing their financial responsibility when communicated clearly, timely and accurately. Providing patients with an accurate pre-adjudication calculation of their financial responsibility at or before the point of service strengthens the trust relationship between the patient and their physician. Providing a choice of convenient payment options, including budget friendly payments terms, gives enhances patient satisfaction.

3 Patient Responsibility Calculator Direct Quote uses real time patient benefits verification, payer contracted rates and the practice fee schedule to accurately calculate patient responsibility at or prior to the Point-of-Care. Direct Quote also provides an e-cashiering payment system that allows the provider to either collect payment at the time of service or set up a payment plan prior to the patient leaving the office. The process is fast (as little as 45 seconds) and it s easy. Direct Quote is web based and can operate as a stand alone application or integrate with your practice management system to become a seamless component of your work flow process. One Size Does Not Fit All, that is why the Exchange EDI Direct Quote product line has options. Direct Quote Enterprise Direct Quote Primary Practice Benefits: Improve Cash Flow Accelerate Patient Payments Reduce Patient Bad Debts Minimize Patient Calls Reduce Calls to Payers Reduce Billing Expense Patient Benefits: No Unpleasant Surprises No Confusing Statements Automated Payment Options Increased Patient Satisfaction Clarity and Accuracy Increases Patient and Provider Trust IMPLEMENTATION During the implementation of Direct Quote, our team of professionals provide Concierge service levels from helping define and design the most effective work flow process to training your staff in patient friendly communication techniques. The result is Direct Quote provides you with the tools and expertise to improve cash flow for the Point-of- Care to posting.

4 e-cashiering The payment settlement engine of Direct Quote Enterprise is e-cashering that is designed specifically for the healthcare provider market. It initiates payment transactions and ties them back to the patient, provider, location and claim ID for easy reconciliation. Benefits of e-cashering Dashboard, summary and detail transaction reports Uses PCI Level One Certified partners Web based total browser system Processes all major credit and debit cards Converts patient checks into electronic deposits Schedules electronic payments from patient s checking or savings account Automate tracking of cash payments and cash drawer reconciliation Patient account posting reports Export of patient account posting files Supports Card on File transactions for deferred settlement Card on File Securing and storing credit card and bank account information is an effective tool for collecting on time payments, recurring and future payments against post insurance balances. Direct Quote produces an authorization form for obtaining approval from the patient to leave credit card or bank account information on file for an agreed up time frame. Card on File is fast and hassle free!

5 Scheduling Payments If the patient cannot pay the total amount due at the point of service, Direct Quote allows you to set up a payment plan that is satisfactory for both the patient and the office. This feature saves time and virtually elements costs. Reporting Direct Quote allows you to instantly run detailed reports,24/7, right from your desktop. Generate detailed payment and income reports by patient, office, provider and date. With a few clicks you can view Daily Totals to reconcile daily payments against bank deposits. View payment summaries by day, week, month, year, a Detailed Payment transaction report, Scheduled Payments report and more. Generate Reports such as: Daily Dashboard Report Provides quick at a quick glance real time information about your payments and your business. Payment Summary Report Delivers a quick summary report of total payments over a given span of time. Payments Transaction Report Provides reports by date and time, transaction ID number, provider, patient, credit card or bank account number, and whether the payment was approved or declined. Scheduled Payments Report Processes your scheduled payments, on the schedule you indicated, and verifies whether they have been approved or declined.

6 EXCHANGE EDI Healthcare Cash Management Contact Us: Exchange EDI, LLC. 35 Roberson Cartersville, GA