|By Marketwired .||
|August 13, 2013 08:06 AM EDT||
PALO ALTO, CA -- (Marketwired) -- 08/13/13 -- Simplee® and El Camino Hospital, the hospital of Silicon Valley, today shared results from the hospital's deployment of the Simplee®PAY platform for patient payments and engagement. In its first six months of using SimpleePAY, El Camino Hospital significantly expanded patient online "self-serve" payment, reduced operational costs, and raised patient satisfaction.
"Simplee helped transform billing from a point of patient friction into a strategic advantage," said Michael King, CFO El Camino Hospital. "With growing patient frustration toward rising high deductible plans, we used SimpleePAY to reverse this trend and actually improve our patient satisfaction while dramatically increasing payment velocity and decreasing operational costs."
Key results from El Camino Hospital's use of SimpleePAY include:
- 16 time increase of patient self-service via online payments from 2% to 33%
- 80% of patients pay within one day of email bill alert
- 25% decrease in soft collections
- 16% decrease in time spent managing payments and collections on the phone
- 40% decrease in overall time staff spent managing payments and collections
- 10 times growth in the number of patients using email billing from 2% to 20%
Simplee®PAY is a patient payments and engagement platform that helps large medical providers create efficiencies, improve collections and increase patient satisfaction through a number of features, including:
- Clarity of BeautifulBill that ensures patient know what they owe
- Convenience of PayPlan and SameView bill sharing that address common barriers to payment
- SmartAlerts patient engagement technology: email + SMS
- POS instant eligibility checks and sharable TruEstimates
- Proprietary technology uniting bills and the explanation of benefits (EoB)
- Easy administration with real-time reconciliation and dashboard drilldowns
- Patient satisfaction polling
"Simplee®PAY produces such immediate and compelling results because the platform is unique in its focus on engaging patients and addressing their barriers to payment," said Simplee CEO and co-founder Tomer Shoval. "We are excited to prove that medical bills can be trusted in the same way as typical household bills. El Camino Hospital is an exemplar as an innovation partner and in their focus on doing right by their patients. We look forward to building on this success together."
Since the launch of SimpleeWallet in 2011, Simplee has managed nearly two billion dollars in patient medical expenses and processes millions in patient payments each month across thousands of medical providers.
About El Camino Hospital
El Camino Hospital, ranked among the top five percent of hospitals nationwide for clinical excellence by HealthGrades for five consecutive years, is an acute care, 542-bed, not-for-profit and locally-governed organization with campuses in Mountain View and Los Gatos, Calif. In addition to a state-of-the-art emergency department, key medical specialty focuses include cancer care, heart and vascular, neuroscience, genomic medicine, orthopedic and spine and women's health.
El Camino Hospital has delivered the highest level of medical services to the communities of Silicon Valley for more than four decades. The hospital is also recognized as a national leader in the use of health information technology to promote patient safety, including computerized order entry, electronic medical records and wireless communications. El Camino Hospital was the pioneer hospital for computerized physician order entry (CPOE), having started its program in 1971. Additionally El Camino Hospital is an accredited Mega Heart and Certified Chest Pain Center and a Santa Clara County Certified STEMI Receiving Center, and a Joint Commission certified stroke center.
El Camino Hospital has been recognized for its clinical excellence with awards such as: Gold Seal of Approval from The Joint Commission for Primary Stroke Center; ANCC Magnet Recognition for Nursing Care and Bay Area Parent Magazine's Award for Best Hospital or Clinic. To learn more about El Camino Hospital, the services it provides in Mountain View and Los Gatos, and its commitment to doing "Whatever it Takes" to provide the best and safest patient care, visit our Web site at www.elcaminohospital.org. For a physician referral, visit our Web site or call the El Camino Health Line at 800-216-5556.
Simplee® bridges the gap between consumers, patients, and medical providers to transform out-of-pocket payment into a trusted self-service experience.
Simplee®PAY is a cloud-based patient payments platform for large medical providers that achieves a 15x leap over historical online adoption and dramatically lower collection costs while raising patient satisfaction. Simplee®Wallet is a complementary cloud service where members can manage and pay all their family's medical bills in one clear, convenient, and centralized place.
Simplee is a privately held company based in Palo Alto, CA. For more information visit: simplee.com/providers.
Cosmo PR for Simplee