Patient Financial Clearance
Get a complete picture of a patient’s ability and willingness to pay in order to improve collection efforts
Identify appropriate funding sources for patients
Focus staff on accounts with the highest probability to pay
Keep more accounts in-house, minimizing collection vendor contingency fees
Optimize collections and assist with 501(r) reporting requirements
Patient Identity Verification
Improve patient registration accuracy and prevent medical identity theft with identity verification prior to or at the point-of-service. Our Identity Verification solution also helps reduce claim denials by improving the accuracy and completeness of patient demographic information through:
- Multiple data sources
- Enhanced matching logic
- Red Flag fraud alerts
- Additional contact information
- Actionable status and warning messages
Financial Aid
Reduce bad debt using an objective and consistent method for determining presumptive charity care. This solution can also help providers more effectively identify charity eligibility, streamline the financial counseling process, and comply with federal 501(r) reporting requirements by leveraging credit and non-credit public records data. It delivers:
- Estimated household size and income
- Debt-to-income ratio
- Percent of Federal Poverty Level
- Residual income
- Configurable financial aid status messages
Propensity to Pay
Improve self-pay collections through the accurate classification of accounts into the optimal payment workflow based on the patient’s unique financial situation. Account information is condensed into a format that allows for quick decision-making during registration, financial counseling, billing and collections. This solution helps reduce the cost to collect by prioritizing which accounts are more likely to pay based on:
- Available credit information
- Propensity to pay scores
- Configurable propensity to pay status messages
Charity Screening
Increase reimbursements and improve the patient financial experience with automated financial assistance eligibility and enrollment. Identify appropriate funding sources for uninsured and underinsured patients with a web-based solution for financial counselors, including:
- Patient interview tool
- Estimated household size and income
- Financial aid qualification program with auto-filled program applications
- Centralized program repository
- Audit-ready 501(r) compliance reporting
Our solutions are powered by best-in-class data and analytics
500+ million consumer financial files managed
90,000+ data sources, including financial institutions and public records
More than 50 years of experience in analyzing and predicting consumer payment behavior
- ClearIQ
- Revenue Manager
1 HFMA staff and volunteers determined that this product met specific criteria developed under the HFMA Peer Review process. HFMA does not endorse or guaranty the use of these products.
Related Products For Patient Financial Clearance
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Insurance Eligibility
Verify patients’ insurance eligibility and benefits to increase point-of-service collections -
Identity Verification
Improve registration accuracy by verifying patient identity and contact information. -
Patient Payment Estimation
Increase point-of-service collections and improve staff productivity with accurate patient payment estimates -
Healthcare Claim Status
Receive timely feedback on outstanding claims, reduce cost-to-collect and improve cash flow
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