ORLANDO, FL - February 4, 2014 - PatientMatters announced today that it has begun to offer hospitals an all-inclusive patient receivables solution to address the escalating patient financial responsibility. Patients are projected to be personally responsible for as much as or more than 40% of their cost of care in 2014.
PatientMatters is a company built on a solid foundation. With an average tenure of more than 25 years, the leadership team is recognized for accomplishments ranging from launching the first enterprise class revenue cycle management system to pioneering the patient electronic Financial Record (eFR®).
Leading the company as Founder and CEO, Sheila Schweitzer has focused her career on the revenue cycle management industry. Of note, she has led organizations such as CareMedic, ENVOY and Presidio. Her executive team includes the hospital perspective with experts such as Lyman Sornberger, who most recently led revenue cycle operations for Cleveland Clinic Health System and University of Pittsburgh Medical Center. The board is led by high-growth veteran D.T. Nguyen, who has provided leadership to pioneering ventures such as MedAssets, XactiMed and IPN Network.
The company conceived its Every Patient, Every Option(SM) solution to focus on enhancing the patient payment experience, resulting in an increase in patient cash received while improving the patient-hospital relationship.
"Hospitals have been dealing with the patient receivable issue for some time, but not in the volume or dollars we see now," said Schweitzer. "The cash at stake is substantial and harder to collect than from a third party."
Because patient responsibility has climbed in rank to the third largest payor (behind only Medicare and Medicaid), it is crucial for hospitals to quickly evolve their processes, culture and technology.
PatientMatters provides the first, all-inclusive patient receivables solution committed to Every Patient, Every Option(SM) through its training, mentorship, technology, and comprehensive patient financial intelligence. This unique solution enables hospitals to increase cash by reducing bad debt, improving coverage and enhancing patient satisfaction. For more information on PatientMatters, visit www.patientmatters.com.