Financial Assistance™ helps patient access staff and financial counselors determine a patient's likelihood to qualify for charity and Medicaid. As with all Recondo services, Financial Assistance automates the patient encounter prioritizing each encounter and helping staff work accounts by exception, rather than manually evaluate every account.
During the eligibility process, Financial Assistance automates the assessment of Medicaid eligibility. Using advanced ReconBot® technology, Financial Assistance automatically checks the respective state Medicaid website and determines if self-pay patients are currently enrolled in that state's Medicaid program. For patients who aren't currently enrolled, Financial Assistance automates the patient encounter by displaying a series of questions to determine if that patient meets any qualifying criteria, then linking the financial counselor to either that state's online or paper application.
Owing to the increased requirement for nonprofit hospitals to demonstrate charity in excess of bad debt, hospitals must identify and substantiate a patient's likelihood to qualify for charity. Financial Assistance incorporates a proven indicator of a patient's ability and willingness to pay, allowing the hospital to shrink risk probabilities by analyzing charity programs for high-risk patients. This indicator is particularly helpful if a patient chooses not to participate in the charity evaluation process, which leaves the burden on the hospital to prove the patient's balance can be written off to charity, as opposed to bad debt.