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Shortcut to Speedy Shortfall Collections for Hospitals

Private hospitals now have a fast, efficient and effortless way to identify and collect shortfalls and online payments from patients with an automated Shortfall Collection Service from Healthcode in partnership with patientzone.

The Shortfall Collection Service integrates Healthcode’s intelligent electronic remittances technology with patientzone’s online patient billing and payment platform to provide a seamless, end-to-end solution for hospitals. It has been possible thanks to groundwork by Healthcode which created a new integrated set of 38 Industry Standard Shortfall Codes (ISSCs) after analysing and collating the 15,500 shortfall messages contained in insurer remittances received in a 30-day period.

The ISSCs enable Healthcode to automatically scan electronic insurer remittances to determine whether there is a patient liable shortfall. When this happens, the system creates a shortfall invoice with the payor’s details and hospital specific branding and messaging which is passed to patientzone. patientzone issues a collection notice with a unique link via email or text message which can be used to access the patientzone website securely and pay the balance due. Once the money has been collected, patientzone sends a receipt to the payor and notifies Healthcode which provides an electronic remittance to the hospital so the transaction can be closed.

As well as being a more efficient way to collect shortfalls, the service enables hospitals to provide a convenient and secure online payment facility to patients and other payors without setting up a merchant account or paying credit card processing fees. patientzone charges 2.5% +VAT commission when the bill is paid and deposits the money in the hospital’s account each week. Hospitals can also set up branded automatic payment reminders at their preferred intervals. These are charged at 10p +VAT for electronic reminders and 55p for paper reminders. Payors are not charged to use the patientzone platform.

Healthcode’s Managing Director, Peter Connor commented: “The Shortfall Collection Service again demonstrates why common data standards and integrated online technology are so important. Together with our friends at patientzone, we have created an end-to-end solution that allows organisations to effortlessly and cost-effectively replace a time-consuming process.”

Managing Director of patientzone, Richard Shawyer, added: “This is an easy win for private hospitals who want patients to have a convenient and safe way to settle their account and create a positive impression. I’m confident that the combined expertise of patientzone and Healthcode will lead to more products that enhance patients’ experience of private healthcare.”

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