![]() "The patients can go in and say, 'I can afford to pay X amount at X per month,' and they can do that all online,”he said. "The beauty of the tool is it provides complete flexibility for the health system to design how they want to work with the patient," Craghead said. Luke's and Intermountain, include Virginia's Inova Health and Washington state's MultiCare Health System. Ivanoff said the features of the VisitPay system are mostly driven by clients, which in addition to St. We worked closely with them over a few months with patient feedback through focus groups." "It's important for a vendor to come with, 'Here's a shell of the platform, and here's the functionality,' " St. "We provided a fair amount of input, with the intention that it would totally replace our system." That ability to help design what VisitPay would allow patients to do was a main selling point for another client, Salt Lake City-based Intermountain Healthcare, said Todd Craghead, vice president of revenue cycle at the system. The health systems drove much of what went into the product based on their individual needs. IVinci also started working with other provider clients to customize its core platform. Luke's and allowing the system to test what worked and what didn't. ![]() The model for how iVinci built out the VisitPay system was collaborative, working with St. "The poorer the experience, the more expensive it is for the organization - on the order of three to four times more expensive - just the cost of servicing the account," Rawdan said. Luke's learned it could save a lot on collections by installing a system for paying bills that was easier on the consumer. Luke's, like pretty much every other health system, didn't know much about the link between ease of payment and its own bottom line. So iVinci built an online payment portal called VisitPay.īefore teaming up with iVinci, St. ![]() "IVinci said they thought they could create one." Luke's senior director of revenue cycle, Michael Rawdan. "We didn't have a digital platform," said St. It also showed they were more likely to pay if they could easily set up an installment payment plan. IVinci's business intelligence showed patients wanted to go online and see their statement and pay their bill like they did with other accounts. Luke's quickly learned from the startup's analytics led iVinci to a whole new business and a new way of billing for the health system. "We started by building a business tool to help hospitals understand payment dynamics," Ivanoff said. ![]() The company was incorporated in 2010 and is based in Boise, Idaho.It was an analytics system based, in part, on what Ivanoff learned earlier in his career at credit card company Capital One Financial Corp. Further, it provides self-pay process management services, including inventory management, work flow and processes, payment estimation, charity care identification, analytics, vendor management, payment tools and strategies, and legal programs. In addition, the company offers professional consulting, technology, and advisory services for self-pay management practices and systems that include dashboards and reporting tools, self-pay strategy assessment, data integration, and portfolio valuation services. It offers Self-Pay Engine, which provides an integrated suite of services, business intelligence, processes, and payment-producing products that allow hospitals to manage self-pay receivables. The company specializes in developing reports within revenue cycle management practice area, as well as enables users to merge financial, operational, and clinical information in a common reporting structure. IVinci Health LLC develops patient-centered self-pay solutions for health care providers. CrunchBase (0.00 / 0 votes) Rate this definition:
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