Claims clearinghouse and revenue cycle management software vendor Availity has made an acquisition to aid provider organizations in an era of increasing patient payment responsibility.
The Jacksonville, Fla.-based company has bought RevPoint Healthcare Technologies for an undisclosed sum. Based in Nashville, Tenn., RevPoint sells a registration information system that includes functions and scripts for clerks to collect pertinent financial information--and a payment commitment--at the time of registration.
The cloud-based system offers a standardized and scripted approach to the registration process, including acquiring demographic and financial information, and getting payment at the time of service or a payment plan set up. Increased patient responsibility is the biggest challenge facing providers today, particularly physicians, says Russ Thomas, CEO at Availity. Providers do not have the tools to estimate the patients out-of-pocket cost, help them understand their responsibility and collect money on the front end, he adds. Acquiring RevPoints technology, is about having the depth and breadth of information available in real-time and at the point of services.
Originally targeting hospitals, a new version of the RevPoint registration system enables hospitals to offer the technology to physician practices, such as those participating in an accountable care organization. Functions in the system include scripted encounters for registrars, insurance/medical necessity verification, address and identity verification, assessment of patient capacity to pay, estimated charges, establishment of payment terms, payment processing, cash collection/account resolution, and patients registered.
The acquisition also helps Availity go deeper into the hospital market, although Thomas declines to say how many hospital clients RevPoint has. RevPoint will continue to operate out of Nashville with its existing leadership and staff.
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