Medical Pay Solutions Introduces the Revenue Maximizer to the Healthcare Industry, the "Solution" to the Increasing Patient-Pay Issues

(PRWEB) April 2, 2010 -- Medical Pay Solutions, a national patient revenue management consultant firm, recently announced an alliance that enables them to introduce the Revenue Maximizer to the health care industry.

Medical Pay Solutions proudly brings the Revenue Maximizer to health care providers, medical facilities and hospitals nationwide. By doing so, they are helping healthcare providers dramatically, by increasing their cash flow and immediately reducing costs associated with the prolonged patient billing and collection cycle and in enabling them to collect the patient out-of-pocket expenses. Medical Pay Solutions offers this proven solution to medical practices, clinics, laboratories, facilities and hospitals across the nation. This technology drastically streamlines the direct-to-patient billing processes, lowers collection costs and reduces patient bad debt. Further, the Revenue Maximizer accommodates patients out-of-pocket responsibility, that continues to grow and the rapidly growing self-pay patients. Patients are pleased because they no longer have to put off their follow-up treatment and preventative healthcare visits.

By adding the Revenue Maximizer technology, Medical Pay Solutions feel they bring the most state-of-the-art and effective method of helping their clients with the very real problem of collecting the patient-pay portion of their revenue. Medical Pay Solutions conducted an in-depth research on this product prior to agreeing to represent and support the Revenue Maximizer. What was discovered is this product is by far the most advanced, simple-to-use technology available in the market today that addresses the very real pain that is being experienced by health care providers today; as they attempt to manage their outstanding patient-pay receivables and bad debt issues.

The Revenue Maximizer is a state of the art, innovative, web-based technology that delivers immediate process improvements. It enables health care providers to instantly verify, in-depth and current, patient insurance eligibility and estimate what patients owe; while they are still in the office, at the point of care. The program generates a patient-friendly statement to present to the patient; a Pre-EOB that clearly displays what the patient is responsible for and what the insurance is responsible to pay. This eliminates any patient confusion. It provides a payment portal processor that processes all electronic payments, i.e. checks, ACH and credit/debit cards. Health care providers can collect payment at the point of care and/or arrange for automatic and pre-authorized payments after the patient’s insurance has paid, or they can set pre-authorized and automated delayed or budget recurring payment plans that are interest free. This allows patients to pay larger balances over a mutually agreed upon timeframe; weekly, monthly or quarterly. All of this is accomplished while the patient is still in the office, not weeks or months later.

Medical Pay Solutions wants to give health care providers the ability to offer outstanding patient care for the lowest possible price and they believe the Revenue Maximizer allows them to do just that. This program offers many time and cost-saving features. For added flexibility and efficiency, health care providers can import patient demographics, organize patient payment history and export daily transaction reports into their practice management or patient accounting systems.

This alliance between Medical Pay Solutions and TransEngen, Inc. expands the distribution of the Revenue Maximizer product and its’ innovative technology. Medical Pay Solutions has a nationwide team of health care consultants within the health care industry that is helping providers overcome the very real challenges associated with delayed patient payments, unpaid patient receivables and patient bad debt.

About Medical Pay Solutions

Formed in 2009, Medical Pay Solutions is a revenue management consulting firm with over 140 consultants nationwide. Medical Pay Solutions is dedicated to helping patients and health care providers resolve the issues associated with rising health care costs and patient pay sectors losses. By providing this innovative technology across the nation, Medical Pay Solutions, via the Revenue Maximizer, is leading the transformation of the healthcare payments process, providing valuable new functionality at nearly every transaction stage of the process and delivering real time information at the point of care, while the patient is still in the office. For more information, visit www.medicalpaysolutionZ.com.

Medical Pay Solutions works with a group of professionals within the healthcare, insurance and IT communities who have an ambition to solve the growing patient pay issues. The result is the creation of the Revenue Maximizer, a robust “Patient Pay Revenue Management System”

This revolutionary solution rescues and returns typically “$100,000 Per Doctor, Per Year, Per Facility” without adding new patients. Larger practices and hospitals experience even greater revenue returns. It immediately increases Cash Flow.

Source: Medical Pay Solutions

Related Links:

http://www.medicalpaysolutionZ.com

http://www.mpsdemo.com

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