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Revenue Cycle Management Company Launches Patient Estimation Solution

ZirMed Inc., a leading provider of software-as-a-service (SaaS) revenue cycle management solutions, announced this week the availability of ZirMed Patient Estimation, a web-based solution that enables provider organizations to accurately determine a patient's financial responsibility prior to providing service or care. Patient estimation is a critical best practice that enables provider organizations to get paid faster and more accurately, while reducing days in A/R and ultimately improving cash flow.

Because ZirMed's Patient Estimation solution leverages the company's national database of healthcare payment information, ZirMed is able to accurately predict patient financial responsibility based on data that is largely already within the ZirMed platform. While traditional patient estimation solutions require extensive contract loading and calibration with content from multiple payer organizations, ZirMed's solution enables provider organizations to get up and running quickly and easily. ZirMed's Patient Estimation web-based architecture also means there are no costly capital outlays or consumption of valuable staff time to implement, operate and maintain the solution.

ZirMed's Patient Estimation solution reduces the time it takes a provider organization to collect revenue from the typical 120 days to an average of only 30 days. Patient Estimation has the following unique features:

  • Multiple payment collection options: Patient Estimation allows any provider the ability to collect patient financial responsibility prior to providing services via cash, check, credit/debit card or payment plan.
  • Automated workflow: The flexible solution can be run by anyone in a provider's office with internet access, from back office billing to patient facing staff.
  • Ease of use and ease of implementation: Patient Estimation's intuitive workflow does not require any specialized user training or expensive contract management system implementations.

"Because of the size and depth of our data network, we are able to perform the patient estimation function without loading contracts or setting up communications with payers - which is something that is still required by our competitors," said Tom Butts, CEO, ZirMed, in a company press release. "This means that the time to value for provider organizations is fast, making this critical functionality accessible to almost any provider in the country, which will ultimately help ensure the profitability of provider practices."

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