Meduit’s PFX Tracker Pilot Program with Banner Empowers Patients and Providers
Charlotte, NC – With the ever-growing premium placed on the patient financial experience in healthcare, Meduit, the leading healthcare revenue cycle solutions company, and Banner Health announced the results of a year-long PFX Tracker pilot initiative designed to significantly improve the patient billing experience by avoiding surprise billing issues. The PFX Tracker is the first patient billing experience technology of its kind to be utilized by a U.S. hospital.
Deployed in tandem with Banner’s Frictionless Billing Project, Meduit’s PFX Tracker initiates a series of emails to keep patients apprised of their claim and billing status, alleviating surprise bills and easing financial concerns, thereby enhancing the patient-provider relationship. Launched in August 2022, the PFX Tracker was created to communicate to Banner employees, insured by Banner|Aetna, regarding the processing of their medical claims. Meduit’s PFX Tracker works by receiving daily data feeds from Banner, which are then used to trigger email notifications to the patient when their claim is in process, delayed or denied, or when payment is completed.
“We understand the challenges patients face when it comes to the billing and claims process, and are committed to improving the experience,” said Alex Paraison, Executive Director Revenue Cycle for Banner Health. “The PFX Tracker brings transparency to the billing and claims process. By keeping the patient informed at each step, we can simplify the process and improve the overall experience.”
Patient feedback has been positive with an email acknowledgement rate of over 85%. Since the pilot began, the PFX Tracker has sent more than 60,000 messages to patients.
“The philosophical driver behind Meduit’s PFX Tracker is to develop and leverage technology that respects patients throughout the financial journey,” said Jeff Nieman, CEO of Meduit. “It’s all about hitting the right balance between sending useful information to the patient in the spirit of knowledge is power but without overloading them with too many emails.”
Banner plans to extend the PFX Tracker to additional payers in the near future. Additionally, with the customizable nature of PFX Tracker notifications, Meduit will be expanding the technology to other of its more than 1,000 hospitals and physician practices nationally and making it available to new clients on a rolling basis.
About Banner Health
Banner Health is one of the largest, secular nonprofit healthcare systems in the country. In addition to 33 hospitals, Banner also operates an academic medicine division, Banner – University Medicine, and Banner MD Anderson Cancer Center, a partnership with one of the world’s leading cancer programs, MD Anderson Cancer Center. Banner’s array of services includes a health insurance division, employed physician groups, outpatient surgery centers, urgent care locations, home care and hospice services, retail pharmacies, stand-alone imaging centers, physical therapy and rehabilitation, behavioral health services, a research division and a nursing registry. To make health care easier, 100% of Banner-employed doctors are available for virtual visits and patients may also reserve spots at Banner Urgent Care locations and can book appointments online with many Banner-employed doctors. Headquartered in Arizona, Banner Health also has locations in California, Colorado, Nebraska, Nevada and Wyoming. For more information, visit bannerhealth.com.
Meduit is one of the nation’s leading revenue cycle solutions companies with decades of experience in the RCM arena, serving more than 1,000 hospitals and physician practices in 48 states. Meduit combines a state-of-the-art accounts receivable management model with advanced technologies and an experienced people-focused team that takes a compassionate and supportive approach to working with patients. Meduit significantly improves financial, operational and clinical performance, ensuring that healthcare organizations can dedicate their resources to providing more quality healthcare services to more patients. For more information, please visit www.meduitrcm.com.