Why Our Healthcare Payment Solutions Are So Effective
We understand the complexity of healthcare and the variety of influences on your cashflow. Wind River Financial enables your organization to provide a superior experience for patient related payments, as well as reducing the complexity of these offerings so you can provide robust options in a secure manner with a clear view of related fee and cost structures. At the same time, we provide support to organizations building towards PCI compliance, and provide a solution that will enhance your security environment.
Financial & Payment Solutions
Wind River Financial has extensive experience helping healthcare organizations improve their payment related cashflow. Working with healthcare networks, independent clinics, hospitals, doctors offices and laboratory facilities, we provide the experience and know-how that enables your business to gain better visibility and traction within payment related agreements and processing.
We ensure PCI related compliance and security for these systems. We integrate with EMR platforms to help streamline the user experience, while at the same time, provide better visibility and guidance to your finance team regarding payment agreements, fees, and profitability.
Revenue Cycle Optimization
Additionally, Wind River has partnered with Sift Healthcare to make revenue cycle management smarter. By improving claims workflow, reimbursement performance and patient financial engagement, Wind River can help achieve improved results for organizations.
Imagine being able to collect 96 percent of denial recovery while touching less than half of denials. Or being able to identify the small percentage of your patients who are responsible for your largest percentage of write-offs. All of this and more is possible. By leveraging your existing data more efficiently, you can:
- Speed up collections from payers
- Improve denial resolution and incur less denials
- Increase patient collections, engagement and ultimately…revenue
Put your data to work today and create a true picture of patients’ submissions, claims and payments across multiple siloed data sources. By leveraging the latest big data technology, this new solution allows organizations to gain deep and actionable insights into trends, all in an easy-to-use analytics dashboard. It brings all of this together on a HIPAA-compliant platform to ensure security best practices.
Aren’t you ready for less bad debt, greater efficiency from your human capital and improved collections?
Key testimonials about our approach from current healthcare clients:
“I wouldn’t hesitate to say that your customer service is exceptional compared to other merchants I’ve worked with. The business model is another major differentiator. The process from the beginning to the end is seamless. In healthcare, when you’re cutting costs, the physicians take on extra tasks. It’s easy to lose sight on merchant bills or what’s going on in the front end. Unless there’s a problem, it’s not on your radar. Wind River acts as our radar and and will contact us to inform us about any rate changes. It’s been a huge assistance.”
- Theresa Pax – Beloit Hospital
“As you know, integration with Epic is important for us. We’re also constantly trying to find ways to be more patient focused. Wind River has already helped us give seamless options for patients to pay their bills. The patient has access to mediums that are important to them to pay. For example, a lot of patients now pay online. Once they recognized this option, it had a positive impact on our cash flow. At first, we thought accepting credit cards would be a burden, but the Wind River team helped provide the resources to obtain and maintain PCI Certification. It was a huge relief to be able to process credit cards and mitigate risk by not having them on our network.”
- Tish Jeffers – Dean Clinic
High Quality Patient Care Requires
a High-Quality Processing Partner
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.”
For many businesses, the implementation of a new payment processing program is a fast and simple event. But for Dean Clinic, a full-enterprise solution requires not one – but several hundred – distinct installations.
When a new VoIP system was creating technical challenges for the health system’s old card readers, Dean’s Corporate Project Manager Tish Jeffers knew she’d have to work fast. She contacted her Wind River Financial relationship manager, Amy McCaughn, who assembled an in-house team to tackle the project.
The eventual solution would require more than VoIP compatibility. It would need scalability across multiple payment channels, including appointment check-in kiosks and online. It would need to meet the security standards of PCI certification. It would have to provide real-time processing for back-end customer service representatives.
With implementation, training and support from Wind River’s Dennis Driver and Dave Faliski, the new TrustCommerce solution was implemented across all clinics – over 400 stations – in about 4 months.
“It was one of the smoothest implementations ever,” Jeffers says. “We even developed our own educational materials with Wind River’s help. The role they play and the level of support and customer service we receive is second to none.”