PHILADELPHIA, PA (February 16, 2012) – Austintown Pediatrics has reported that it reduced patient bad debt by 50 percent with InstaMed, the leading Healthcare Payments Network. Additionally the practice decreased operational costs and payment processing time by 50 percent.
InstaMed has published the practice’s business results in a recent case study conducted in collaboration with Austintown Pediatrics. Read the full case study here.
Austintown Pediatrics, a pediatrics practice in Austintown, Ohio, started using InstaMed in 2008 when the practice saw a strong need for improved technology and processes in its healthcare payments processes. The practice’s inefficient processes created significant concerns, including a lack of control and visibility into claim and payment information, difficulties with reconciliation, high operational costs and rising patient bad debt.
InstaMed helped Austintown solve these problems by enabling the practice to check patient eligibility up front, manage claims submission and claim status in real-time or batch, and by facilitating the automatic reconciliation of payments. To increase patient payments, the practice added payment capabilities including the acceptance of all payment cards (credit, debit, prepaid, HSA, FSA and other healthcare cards), in addition to cash and checks, at the point of service, over the phone or by mail.
“InstaMed integrated seamlessly with our practice management system, driving significant financial improvement for our practice within the first six months,” said Keith Campanelli, CFO of Austintown Pediatrics. “Our staff uses InstaMed’s reporting tools on a daily basis to easily track all claim and payment information. And with more accurate and efficient claims management, payment processing and reconciliation, we have been able to expand our practice without hiring more administrative staff.”
“Healthcare providers of all sizes are increasingly concerned with their rising bad debt and operational costs, which have been increasing as the average patient becomes responsible for a greater portion of their healthcare expenses,” said Bill Marvin, President and CEO of InstaMed. “We are delighted that Austintown Pediatrics has achieved financial success with InstaMed.”
Keith Campanelli and Bill Marvin are panelists at the upcoming HIMSS12 Summit for Healthcare Information and Financial Technology (SHIFT) in Las Vegas, NV, on February 21.
InstaMed is the leading Healthcare Payments Network connecting providers, payers and patients with healthcare clearinghouse, eligibility, estimation, patient and payer payment and patient billing transactions on one integrated transaction platform. InstaMed delivers payment assurance to providers, enables payers to disburse payments at a lower cost with fewer incidents of fraud, and gives patients a simple, convenient and secure way to pay. The InstaMed Network powers healthcare payments for over 200,000 providers nationally with tens of billions of dollars in healthcare payments processed. Visit InstaMed on the web at www.instamed.com.
About Austintown Pediatrics
Austintown Pediatrics was established in 1998. We are a private pediatric practice in the growing community of Austintown, OH. Currently we have a board certified Pediatrician and a Certified Pediatric Nurse Practitioner. We specialize in the care of children from birth through high school. We strive to provide your child with the most personalized and the highest quality of healthcare. We take pride in the time we spend with you and your child during your visits. Visit Austintown Pediatrics on the web at www.austintownpediatrics.com.
InstaMed Public Relations