PatientBond, the leading consumer science-driven patient engagement SaaS provider, announces it is working with Falck USA, to recover missed patient payments and insurance reimbursement.
Falck USA is one of the largest private providers of 24-hour ambulance transport and 911 response services in the United States, offering both basic and advanced life support. One challenge Falck USA faces is that many ambulance trips are not reimbursed by health insurance, because crisis situations make it difficult to obtain the information necessary to file an insurance claim or collect from a patient.
PatientBond designed and executed an SMS/text message based payment reminder process for Falck USA to accelerate patient payments while reducing outstanding balances and collection costs. Patients receive a set of reminder messages over the course of 31 days or until full payment is received.
In the first ten months of automating digital patient engagement through PatientBond, Falck USA realized several million dollars in patient payments and insurance reimbursements that might have otherwise gone unpaid. The effort has yielded a 75-to-1 Return on Investment for Falck USA.
Implementing mobile engagement in partnership with PatientBond last year was one of the best decisions I made, The benefits reaped from this have included insurance discoveries, accelerated patient payments, and bad debt reduction. We are looking forward to building off these results and continuing this journey with PatientBond into 2022."
Kevin Don, Executive Director, Global Business Services for Falck USA.
PatientBond conducts an extensive amount of market research on healthcare consumer motivations and communication preferences. We design our communications to enhance the likelihood of desired behavior activation, which in this case is paying one's bill through a simple patient payment platform."
Justin Dearborn, CEO of PatientBond.
PatientBond was founded by leaders in digital health, consumer engagement and consumer product executives from P&G who realized that the rise of consumerism in healthcare means that providers and other healthcare stakeholders must take a "digital first" approach to building loyal patient relationships. PatientBond's mission is to leverage Healthcare Consumer Insights and Innovative Technology Solutions to help its clients build a tighter bond with their patients and members to improve health outcomes, increase revenue and reduce costs. PatientBond is growing rapidly, as recognized by Inc 5000 and Financial Times. PatientBond is a portfolio company of First Trust Capital Partners.
About Falck USA
Falck USA is a wholly owned subsidiary, that provides 24-hour ambulance transport and 9-1-1 response services. It provides basic life support and Advanced life support services in the United States. Falck currently provides ambulance services to 4 states in the US and operates approximately 400 US ambulances and employs more than 2000 American emergency response professionals.