RevSpring recently announced their creation of a Financial Distress Indicator™ to help healthcare providers understand which of their patients are most financially impacted by the pandemic.
Editor' s Note: This publication originally appeared on RevSpring's website.
Livonia, Mich. (May 13, 2020) – RevSpring, the leading provider of healthcare financial engagement and payment solutions, has responded to the COVID-19 crisis by creating a Financial Distress Indicator™ to help healthcare providers understand which of their patients are most financially impacted by the pandemic. Building on years of industry experience and healthcare payment expertise, RevSpring’s financial distress measurement model helps hospitals and other healthcare providers adapt their billing and payment tactics to a patient’s dynamic fiscal conditions, such as COVID-19.
RevSpring reviewed data from 370 million U.S. consumers to identify how many people have been negatively financially impacted by the pandemic. The data revealed that nearly 30 percent of people with a high propensity to pay their bills are in coronavirus-related financial distress. The findings confirmed the need for a more precise way for healthcare revenue managers to navigate during this unpredictable and rapidly changing financial environment. Continue reading>>
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