About Payment Navigation Compass
Topics: Revenue Cycle, Finance, Point-of-Service Collections
Critical to collect up front
With growing patient obligations and self-pay populations, point-of-service (POS) cash collections are increasingly critical to overall revenue cycle performance. For each dollar of patient obligation that is not collected at the POS, only 25 cents on average is collected at the back end.
What is Payment Navigation Compass?
Payment Navigation Compass helps hospitals and health systems optimize POS collections while reducing denials and bad debt using best practice processes and revolutionary patient access technology.
Recognizing that successful organizations maximize POS revenue capture across multiple patient access functions, we have developed a three-pronged approach:
- Verify insurance eligibility and benefits for every patient
- Ensure authorizations are obtained prior to service
- Accurately estimate and collect patients’ obligation at or prior to the POS
Our Services
Patient access technology
The core of our solution is an unrivaled patient access technology grounded in best-practice research. Member organizations use our workflows, data, and analytics to:
- Streamline POS cash collection processes
- Automatically verify patients’ insurance plan eligibility
- Flag procedures requiring authorization according to a patient’s coverage and benefits
- Automatically request authorization codes and ensure their receipt prior to service
- Automatically produce timely and accurate calculations of patient obligation
- Educate patients on the financial aspects of their care experience
- Standardize best-practice scripting for requesting payment and overcoming patient objections
- Ensure accountability and process improvement through guided workload and productivity statistics
Outcomes-focused dedicated advisor
Every member is served by a dedicated advisor, who functions as both educator and analyst, helping members extract value from their Payment Navigation Compass investment. Dedicated advisors:
- Analyze current POS collections processes
- Identify immediate and long-term opportunities for improvement
- Review member data to support performance gains and prevent backsliding
- Share peer organizations’ stories and best practices
- Ensure successful technology use
- Conduct initial and ongoing training for front-end staff and management
National cohort of like-minded hospitals and health systems
Payment Navigation Compass members are part of a rapidly expanding national network that includes nearly 100 progressive hospitals and health systems from every U.S. region. The membership’s willingness to share best practices fuels the cohort’s ongoing progress.
Dedicated Advisors facilitate idea sharing, as do cohort events such as annual performance summits and monthly webconferences featuring the work of best-practice member organizations.
Contact us to learn more about Payment Navigation Compass
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