RCM startup insider: MedPilot

New York-based revenue cycle management startup Medpilot wants to help healthcare providers and billing agencies change how they approach self-pay accounts, reports AlleyWatch.

Below are five things to know about Medpilot.

1. Medpilot was designed to make healthcare billing and collections departments more effective and efficient. The software uses data and behavioral targeting to recommend patient engagement methods to resolve outstanding balances in the most efficient way.

2. Medpilot practices direct-to-consumer marketing that enables them to use data to support patient engagement initiatives. Business co-founders Jake Myers and Matt Buder Shapiro told AlleyWatch, "We believe that in order to maximize collections and minimize patient frustration, you must optimize the performance of your outreach."

3. The company's target market comprises outpatient facilities, such as radiology labs and urgent care clinics, as well as third-party billing and collection companies.

4. Medpilot recently raised $750,000 in seed capital led by Halcyon Asset Management and angel investor Hudson River Capital Partners.

5. Medpilot recently partnered with Retrieval Masters, a collections agency which handles more than $1 billion in outstanding bills.

More articles on revenue cycle management issues: 

Geisinger patient refund policy spurs at least 1 health system to consider the idea
US payments on prescription drugs rose 12.2% in 2015: 7 things to know
Survey finds retirement savings stunted by healthcare costs

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