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Benefits of Online Payment Processing
Using the CBOSS Central Payment Portal
Dedicated in 1983, Gila Regional Medical Center (GRMC) is one of the most modern health care facilities in New Mexico. As the largest hospital in a 100-mile radius, GRMC is southwest New Mexico's medical hub and they provide a wide range of services and medical specialties to the people of Grant, Luna, Hidalgo and Catron counties. Gila Regional licensed for 68 beds and 12 basinets.
Long before the Obama Administration’s stimulus initiative to mandate electronic medical records, GRMC had already implemented new electronic technologies and solutions on a number of operational fronts: electronic automation of their medical records, communication services between employees and patients, as well as general improvements in daily healthcare services. As part of this ongoing initiative, GRMC is always looking out for better ways to provide increased patient satisfaction and improve the patient’s overall experience with the hospital.
At a recent regional hospital conference, CBOSS attended a seminar given by David Furnas, GRMC’s CIO, about the critical needs for both EMR automation and reduced reliance on paper-based processing to improve operational efficiencies and improve the patient experience. We were invited to present online payment processing to GRMC patients, offering yet another way to automate processing, reduce paper and improve service levels to patients.
CBOSS presented the CBOSS Central Payment Portal (CPP) Solution to Gila Regional Medical Center. This solution offers the following operational and service advantages to GRMC:
Gila Regional Medical Center launched this process on June 18, 2009. As of October 31, 2009, GRMC still had not yet advertised this service in the local media or on their billing statements, yet still, service levels have increased. All traffic has come from links on the web site or from verbal references from billing staff when talking to payers on the phone.
In the four and half months that the CPP has been collecting payments for GRMC:
Another benefit is the potential realization in revenue for GRMS. The following scenario defines a typical process for revenue collection online vs. paper through the mail.
A customer pays their bills at 8:00 pm on Tuesday. They see that they can pay their GRMC bill online, and they decide make an online payment through the web site with their credit card. The CBOSS CPP solution sends the completed transaction for settlement on Wednesday morning to GRMC’s bank. The customer’s money is collected and available for use by GRMC Thursday morning.
If online payment were not available for the customer, the customer writes a check on Tuesday night. The customer mails the check Wednesday, and the check arrives at the GRMC billing office Friday. GRMC office staff manually process the check and create a deposit slip and take to the bank by 5:00 pm. If they do not have same day funding on their account, then the money shows up for use by GRMC Monday/Tuesday of the following week. Even with same day funding, they are potentially 1-2 business days longer in collecting that revenue through a mailing process instead of an online process.
GRMC is now able to capture and realize revenue faster from patients; this shortened revenue cycle allows GRMC to improve customer service, while decreasing overhead costs and time for processing. GRMC is now looking to have CBOSS integrate directly with their back-end provider MEDITECH for reconciliation. In addition, CBOSS is in discussions with a partner to offer kiosk collection of co-pay services.
The CBOSS Central Payment Portal is proudly developed and designed using the following technologies:
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