AblePay (a THA endorsed partner) is the next generation patient financial engagement tool that dramatically increases patient revenue, collection efficiency, and the overall patient experience. The AblePay program is designed to lower healthcare costs for patients while ensuring that providers receive prompt and dependable payments. With a unique combination of savings, flexibility, advocacy, and convenience, our user-friendly platform delivers an effective and straightforward approach to patient financial engagement.
Acting as a crucial link between healthcare providers and patients, AblePay helps bridge the affordability gap in patient financial engagement. By streamlining the patient payment cycle and ensuring payment within fourteen business days, AblePay enables providers to better manage their receivables and lower collection costs. AblePay integrates seamlessly with existing provider processes and vendor systems, minimizing workflow disruptions and enabling a quick implementation process. The AblePay platform acts just like a payer, allowing providers to start accepting secondary payments almost immediately. The program efficiently enhances providers’ financial outcomes and improves the overall patient payment experience.
Meanwhile, AblePay empowers patients by offering savings and flexible payment options, with no fees or interest charges. Patients self-select into the AblePay program and all patients are accepted automatically (no credit checks or propensity to pay scoring).
The effectiveness of the AblePay program is highlighted by real-world examples, as summarized in the following case study.
Lehigh Valley Health Network Case Study: Changing Patient Payment Behavior with AblePay
The Lehigh Valley Health Network (LVHN), based in Allentown, Pennsylvania, serves the greater Lehigh Valley area. The system includes 13 hospitals, over 320 outpatient centers, more than 23,000 employees, and generates $3.2 billion in annual revenue. LVHN selected AblePay’s unique program to increase its post-insurance revenue, decrease its collection costs, and improve the patient experience in the communities it serves.
Faced with significantly rising patient out-of-pocket costs, LVHN adopted a new strategy to efficiently collect patient balances. The goal of this approach was to boost revenue while reducing collection expenses.
To achieve these goals, LVHN embraced AblePay’s innovative solution. By assuming full responsibility for payment risks, AblePay eliminated the uncertainties and costs associated with collections. Patients benefited from cost savings, flexible payment options, a user-friendly payment portal, and billing advocacy services provided by AblePay.
The results of the LVHN case study with AblePay included:
- 47.3% increase in collection rate compared to LVHN’s historical collection rate.
- 43% increase in out-of-pocket revenue per patient.
- 16.7% increase in additional revenue reported for LVHN’s patients participating in AblePay.
- Days to collect decreased from 97 days to 14 days for AblePay members.
- Net Promoter Score (NPS) of 89 was reported for LVHN patients that joined AblePay.
THT members interested in learning more about this unique program should contact John Rankin at john.rankin@ablepayhealth or 214-213-8162.
About AblePay
Founded in Bethlehem, Pennsylvania, in 2016, AblePay (ablepayhealth.com) offers a simple solution to increasing healthcare costs in the United States. Since its inception, AblePay has assisted healthcare consumers and medical providers in Pennsylvania and New Jersey. Over the past 18 months, they have expanded to Ohio, Kentucky, Indiana, Minnesota, California, Georgia, and Texas, with new markets on the horizon.
AblePay assists healthcare providers in reducing their collection costs while increasing receivable times and bettering their financials. Healthcare consumers interested in lowering their out-of-pocket medical expenses can enroll in this no-cost program. In addition, the program provides flexible payment terms and convenience with a high level of support for members. The business model works to bridge the gap between providers and healthcare consumers, strengthening the relationship and creating a better patient experience.