Automation to Increase Financial Assistance Program Participation
Improvements to data, analytics and automation can help curb the billions of dollars that are written off annually by cancer care treatment facilities due to the high cost of therapy programs.
Despite the availability of funds from pharmaceutical manufacturers and financial assistance foundations, the burden of high-cost cancer care weighs heavy on patients and their loved ones financially and emotionally. More than 60% of cancer patients experience financial struggles as part of their treatment, and many of those would receive financial assistance if only a financial counselor had the time and information needed to engage them. FlintFA™ reduces financial counselors’ need to continually monitor accounts, file paperwork, submit payment requests, and frees them to spend time with cancer patients understanding their needs. On average, FlintFA can save an organization $2.7 million annually in write-offs.
How it Works
Financial counselors care for patients by addressing their financial wellbeing through awareness of funding programs, assistance in applying to qualifying programs, and requesting payment from enrolled programs. As more funds become available and the importance of those funds becomes greater for cancer patients, the burden on financial counselors increases. Still, their job is more important than ever in the support of patients and reduction in risk to the organization.
FlintFA increases the impact of patient financial assistance through robotic process automation, RPA, by identifying which programs a new cancer patient may qualify for and continuously monitoring treatment changes that may trigger a change in program eligibility, filing applications on behalf of both patients and organizations, and automatically requesting payments as soon as all documentation is complete and other payers have cleared.
The BOT-tom Line:
- Reduce the Impacts of Financial Toxicity
- Optimize Financial Assistance Processes
- Decrease Bad Debt from Uncompensated Care