Since 1970, Beloit Health System’s (BHS) goal has been to deliver the highest quality of care to patients. Their best-in-class approach has put their patient satisfaction ranking in the top five percent nationally for hospitals their size, and they have set the bar just as high for their business partners like Wind River. BHS was using a payment processing company for several years before the regional bank sold them to a different national entity.
Change is a constant for the health care industry. Two areas that have become even more critical is the patient experience and handling sensitive data.
A key focus for Theresa Pax, Accountant at BHS, is making it easier for patients to make payments in a way that creates less friction and improves the way to bring money to pay for services.
“When you’re cutting costs, everyone takes on extra tasks, and it’s very easy to lose sight of the patient payment experience and funding timing,” said Pax.
Pax and Director of Finance Mike Bua were also concerned about their financial risk and exposure as the health care industry has emerged as a target for patient data breaches.
“Protecting patient data is a huge concern in health care right now. We found the PCI security certification process to be confusing and we weren’t getting the support we needed from our previous processor.”
BHS had been utilizing a Virtual Terminal payment technology solution, but they were concerned that it still created exposure to a data breach and led to an overly complex and confusing process to comply with the data security requirements.
Their finance team had also completed a cost analysis on their current provider and determined that the fees we were paying were out of proportion for the services that were provided.
Pax and Bua had multiple meetings with the Wind River team of experts to identify and implement a single payment technology platform for more than 10 hospital, clinic and hospice locations with multiple payment channels. “We weren’t PCI compliant with our previous provider. Instead of focusing on a PCI non-compliance fee, Wind River showed us the path to effectively safeguarding sensitive patient data.”
Wind River’s recommended technology platform that leverages Point-to-Point encryption has significantly reduced BHS’s financial exposure to a data breach, while greatly simplifying the security compliance process to save their staff time, and lowered their annual credit card processing costs.
Wind River delivered on its promises.
“Our initial research of Wind River was positive, and after meeting them, they stand by their reputation.”
In just the first full year partnering with Wind River, BHS lowered their annual credit card spend by more than $40,000.
“Since we’ve started working with them, they have acted as a radar for us, and will contact me and share reports that help us understand when we receive higher Card Brand rates and how to offset them. It’s been a huge assistance.”
BHS has realized their expected improvements to revenue collection which has led to cash flow improvement as they now receive funds on a more timely basis. BHS has taken advantage of the recurring payment module to receive installment payments quicker while freeing up internal staff and collections time. Prior to working with Wind River, looking up the patient account numbers took extra time, which was a frustrating process for BHS A/R staff.
Wind River helped BHS add custom fields including Patient Account number, Statement, Claim number, and Patient Name which streamlined daily and monthly reconciliation processes as they can now post directly from a single report rather than needing each receipt printed by the receptionists or cash office.
BHS had angst about transitioning to Wind River during a busy year-end and holiday season, but again, Wind River’s team met their commitments.
When asked about their experience, Pax said, “They made the transition to their technology seamless from beginning to the end, and there were no ‘black holes.’ We were really looking forward to having a real relationship with our payment processor, and I wouldn’t hesitate to say that their customer service is exceptional compared to their competitors that I’ve worked with.”