Speed Your Healthcare Revenue Cycle With A Check2Bank SolutionSource: ImageSoft, Inc.
Spectrum Health is a not-for-profit health system in West Michigan offering a full continuum of care through the Spectrum Health Hospital Group, which is comprised of nine hospitals including Helen DeVos Children's Hospital, a state of the art children's hospital that opened in January 2011, and 190 service sites; the Spectrum Health Medical Group and West Michigan Heart, physician groups totaling more than 600 providers; and Priority Health, a health plan with 625,000 members. Spectrum Health is West Michigan's largest employer with more than 18,000 employees.
Spectrum Health's Cash Application department was processing, on average, 35,000 patient and health insurance check payments per month when it began working with ImageSoft. With two new hospitals and a medical group being added to the mix, the number was estimated to grow by an additional 25,000 checks per month.
In 2010, a Cash Applications shared service department was created to support the hospital, medical and post-acute billing. Patient check payment processes were not consistent and some were manual. As an existing OnBase user, Spectrum hoped to leverage its investment in the OnBase document management technology and enhance current processes by replacing its aging check posting equipment and to develop a remote deposit capture process for checks with its financial partner. It looked to ImageSoft to accomplish these objectives.
With ImageSoft's Check2Bank solution and electronic workflow in place, Spectrum Health's patient and health insurance check payment process has been streamlined. By removing the paper check from the process, Spectrum has reduced bank fees and eliminated an external bank lockbox with one of its entities without adding FTEs.
Beyond these savings, another benefit to Spectrum – of equally significant value – was a vast quality improvement in customer service and faster response time to patients with inquires about their check payments. In the past, when patients called with questions, it was often a lengthy and time-consuming process. Now using OnBase, images of the checks are instantly available enabling Cash Applications staff to enhance their service to internal and external customers.