Patient-Tailored
Financial Care
Mastercard ARxChange Transform Healthcare Finance
Mastercard and ARxChange Partner to Drive Transformational Change by Creating a Modern Healthcare Payment and Consumer Experience
Announced on February 3, 2022, the partnership marries ARxChange core analytics and adaptive financial assistance technology with Mastercard's billing and payments acumen to offer the market's most personalized, flexible pricing and billing options tailored to each patient's financial circumstances. The partnership further involves Mastercard jointly developing and commercializing ARxChange's Healthcare Commerce Network — an online health care shopping platform that packages care and individualizes price and payment options based on patient affordability - read more
Compassionomics
Compassionomics
Treating patients, not just their bills™
ARxChange's Compassionomics, in the form of Adaptive Financial Assistance, tailors patient financial care to each individual's economic circumstances
ARxChange Adaptive Financial Assistance — How it Works — See HFMA — See Becker’s — HFMA Podcast
How it Works
Anchored in the larger patient-provider financial care movement, Adaptive Financial Assistance (AFA) is based on ARxChange’s “Patientnomics” that use enhance analytic methods and qualifiers that adjust more dynamically to provider fiscal needs and patient economic diversity.
The key premise for AFA is that patients do not pay when financial assistance is insufficient, either because they can’t or because they elect not to. However, if the amount of financial assistance is targeted precisely to patients’ circumstances, they are most likely to pay in full, given their behavioral and affordability characteristics, and their payment levels will help providers achieve the highest possible revenue.
Who Are We
We solve healthcare’s financial challenges by designing industry-leading, customized patient financial care and revenue systems. Our designs prioritize net revenue improvements, center around data-guided workflows, and emphasize the formation of fiscally-responsive, compassionate, cooperative payment dynamics throughout the entire patient financial journey.
ARxChange is widely recognized as the industry leader in delivering high-performing, fiscally-responsive, patient-centric revenue systems. For over a decade, ARxChange has pioneered patient revenue optimization systems and patented advanced analytic methods raising the bar and becoming today’s standard. Those looking to optimize all patient financial transactions, while improving revenue, look to ARxChange first.
ARxPRO
Powered by our innovations in “Patientnomics”, ARxChange Patient Revenue Optimization (ARxPRO) is an integrated analytics and business intelligence system that designs individually-tailored patient financial care solutions at the highest revenue and payment compliance levels possible. ARxPRO allows healthcare providers, revenue cycle firms, as well as patient finance and billing entities to institute the market's most advanced, decisive, and effective patient financial care and revenue systems available today.
Identity Verification & Management
- Real-time identity verification
- Address standardization protocols that improve the quality of matching algorithms and accuracy
- Embedded logic to reduce false-positives and safeguard accuracy
- Multiple data set corroboration
- 55% enhanced patient identity and contact data (on average)
Insurance Discovery & Verification
- Real-time verification and discovery
- Averages twice the number of queries per payor for each account when compared to other vendors
- Employs direct connections to payor data infrastructures to find more active coverage
- Applies advanced search algorithms for more than 2,000 payor/clearinghouse databases
- Identifies active coverage for upwards of 5% of pure self-pay balances, which nets to 1.5% - 2% in insurance cash recovery (on average)
Charity Care & Adaptive Financial Assistance
- Real-time charity care and FAP determinations
- Mathematically aligns patient affordability limits with the maximum revenue expectations of caregivers
- Incorporates capability of individualized payment plan options for patients as required
- Includes advanced adaptive and customized financial assistance logic
- Identifies accounts that meet the criteria for charity care and financial assistance policies (FAP), which allows for automatic routing into specialized workflows
Patient Financial Care
- Real-time stratification and subgrouping of patients based on their payment attitudes and behaviors
- Provides multidimensional visibility into patients’ unique economic capacities and how best to engage them financially
- Extends beyond conventional segmentation and allows for personalized patient-centered financial care
- Patented (USPTO Nos. 7,949,597; 8,234,209; 8,442,903)
Business Intelligence
- Blends data from multiple sources into a single view
- Builds dashboards from hundreds of chart and graph templates
- Dives further into data with drill-downs and interactive intelligence
- Customizable and dynamic design
- Performs ad-hoc KPI analysis in real time
- Capability to send alerts when metrics need attention
Optimized Workflow
- Accelerated performance
- Enriched patient financial experience
- Actionable intelligence and improved confidence
- Enhanced productivity
- Interpretive analytic support
Select Clients
We are proud to have some of the most well-known and respected clients in the market; and are equally ready to partner with you to achieve all your patient financial care, revenue, and operational goals.
