New Year 2022

Our 2021 Story and Outlook for 2022

As we step into a new year, we reflect on what has transpired over the last 12 months and express our gratitude to all our incredible staff, partners, and customers.

Certainly, the pandemic has changed all of our lives. In the face of unprecedented challenges, we have seen remarkable resilience and innovation in the healthcare arena.

We are grateful for doctors, nurses and other healthcare workers on the frontlines caring for patients during this pandemic. They keep our health system strong and ensure the delivery of essential healthcare services to our communities.

We’ve seen healthcare organizations face numerous challenges like supply chain disruptions, major staffing shortages, hospital-bed shortages, delayed surgeries and unprecedented volumes of critically-ill patients.

During this crisis, Mnet has been at the forefront in supporting these providers in creating exceptional patient experiences and ensuring patient satisfaction.

For the Mnet family, 2021 was a phenomenal year where we made big leaps – enhancing our services, welcoming new team members, and achieving new milestones.

Join us as we look back on our 2021 story and share our outlook for 2022.

We fortified our executive leadership to continue accelerating growth

As a leading revenue cycle management (RCM) & technology provider to the surgical industry, we wouldn’t be where we are now without exceptional executive leadership.

Our new C-suite will continue Mnet’s focus and commitment on improving the patient experience and patient satisfaction.

  • Derek Smith, CEO, brings decades of experience in healthcare technology having served as Chief Revenue Officer of eSolutions and as Chief Commercial Officer of Global Healthcare Exchange (GHX). Derek’s successful track-record is centered on the customer and their satisfaction.
  • Lauren Illescas, COO, has been running operations within Mnet for over a decade and now spearheads collection operations, back end service, vendor alignment, and product strategy.
  • Justin Zaits, CFO, brings extensive medical device and healthcare SaaS experience as a tenured finance executive having served as Director of Financial Planning and Analysis, Global Operations with Medtronic, one of the largest medical device companies in the world.
  • James Ryan, CRO, comes to Mnet with more than a decade of experience as a sales leader with proven accomplishments in the healthcare SaaS industry having held key leadership positions with Waystar and eSolutions.

We received strategic growth investment from Memphis-based SSM Partners

With the investment by SSM Partners, we have accelerated product development and market expansion to achieve our company mission.

The investment provided resources to continue our strong growth and expand our mission to help more patients pay. This also enabled us to expand our unparalleled offering to provide increased collections for providers and satisfaction to patients.

We acquired One Medical Passport

With our acquisition of One Medical Passport, we have created one of the largest footprints within the ASC space – serving nearly 1,500 total facilities nationwide. The combined entity creates industry leading offerings at scale to deliver frictionless patient experiences and generate tangible financial returns for ASCs.

The combined offerings have also streamlined the patient experience from registration through patient financial solutions. The front-end SaaS solution, combined with high-touch payment services, creates a seamless patient, staff, and organizational experience for the ASC market.

We launched the 2021 ASC Everyday Heroes Program

Initially launched in 2020, the ASC Everyday Heroes Program is our way to give back to the ASC community and recognize, honor, and reward those who have gone above and beyond their role and touched the lives of so many.

This year we named Anthony Novella, Director of Nursing at Orthopaedic Surgery Center at Bryn Mawr Hospital as the 2021 ASC Everyday Hero winner for having received hundreds of votes from the ASC community.

We launched monthly webinars approved for Administrator Education Units (AEUs)

Together with One Medical Passport, we have launched monthly webinars on important topics to help our partners and customers combat the challenges they face in the industry:

  • How to improve the patient experience
  • How ASCs can navigate major staffing shortages
  • Top ASC financial success strategies that will deliver big results in a pandemic-changed world

Our Outlook for 2022

We know that the only constant in this healthcare industry is change. The pandemic has shown the importance of focusing on the patient experience and patient satisfaction. With the right technology and infrastructure, a partner like Mnet can help you be in a better position to take advantage of the opportunities that will exist in the new year ahead.

We believe every patient deserves a helpful, transparent, easy to navigate financial experience in healthcare.

We’re looking forward to continuing to empower ASCs in 2022.


James Ryan, CRO

Mnet Health Fortifies Executive Leadership Team with a New Chief Revenue Officer, James Ryan

Mnet appoints experienced sales leader, James Ryan, to CRO.

ALISO VIEJO, CA (PRWEB) DECEMBER 13, 2021Mnet Health today announced that James Ryan has been appointed Chief Revenue Officer. Mr. Ryan is an experienced sales leader with proven accomplishments in the healthcare SaaS industry.

“James brings a winning track record of success in leading and scaling sales organizations, and in building deep and lasting customer relationships across the healthcare markets,” said Derek Smith, CEO, Mnet Health. “He has been a key part of fast-growing companies in the past and I’m excited that he will now be a part of the Mnet Health team as we continue to expand and help improve the patient experience in the ASC market.  This is a winning combination and I’m excited to hire such a person at just the right time for the company.”

Ryan’s addition to Mnet brings more than a decade of experience to the company as he leads high-performing sales teams on a path of success. He is passionate about identifying and executing strategies for growth and improvement for both his team and his clients.

“I’m super impressed by the level of service, support, and value that Mnet provides to the healthcare community.  The approach that we take to putting the patients first not only helps patients feel more comfortable with their healthcare experience in these uncertain times, but also helps infuse cash flow for healthcare providers when they need it most.  That combination makes Mnet primed for major growth.  I’m excited to help apply a consistent and sustainable sales methodology to an already great company with awesome people and market leading services to make sure our message is effectively getting out to the healthcare community which will drive accelerated growth for the organization,” says Ryan.

Previously, Ryan has held key leadership positions with Waystar and eSolutions. Focused on Hospital Sales for Waystar, Ryan aided in the integration of eSolutions’ offerings to create a unified Waystar sales strategy by developing new sales teams and addressable market segments. Before this, Ryan worked with eSolutions, where he helped lead unprecedented growth for the organization across multiple markets.  Prior to Waystar’s acquisition of eSolutions, Ryan focused on organic growth via thoughtful scale of the sales organization.  In addition to organic growth, Ryan led sales process and product integration efforts for five company acquisitions that eSolutions completed over the last four years of his tenure with the organization.

To read the original press release, click here.

About Mnet Health

We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.

About One Medical Passport, Inc.

One Medical Passport (1MP) is the leading provider of cloud-based workflow solutions to the ambulatory surgery industry. 1MP is dedicated to continuously improving outpatient surgery for patients, staff and physicians alike. For more information visit, 1mp.com.


Patient Experience

Is Your Patient Experience Fitting for Stars?

In the surgical industry, patients are not only looking for positive clinical outcomes but also exceptional patient experiences throughout their healthcare journey.

The patient experience is vital as it spells the difference between patient loyalty versus patients finding another surgical facility.

For ambulatory surgery centers, or ASCs, that focus on providing same-day outpatient surgical care, the patient experience is the primary selling point which can make or break their facility.

Today, over 60% of all surgeries are performed either in a hospital outpatient department (HOPD) or ambulatory surgery center (ASC). Leapfrog’s 2021 Patient Experience Report revealed that ASCs received higher patient satisfaction scores than hospitals.

The reason why patients – particularly high-profile professional athletes – are drawn to ASCs is because they provide a more personalized experience compared to going to a big hospital.

On Sept. 29, Oakland Athletics shortstop Elvis Andrus went to Trinity Park Surgical Center in Arlington, Texas to treat a fractured leg. Seattle Seahawks quarterback Russell Wilson also underwent surgery on an injured middle finger at the Cedars-Sinai Kerlan Jobe Surgery Center in Los Angeles last Oct. 8.

Some ASCs are official orthopaedic providers and provide expert care to elite athletes, keeping them in top shape so they can play at their best. For example, Premier Orthopaedics has been the official orthopaedic provider of the Philadelphia Union since the team’s founding in 2010.

ASCs have transformed the outpatient experience for patients and their families and have done so with a strong track record of high-quality care, personalized attention, and positive patient outcomes.

What is preventing your facility from being the center of choice for the biggest names in the nation?

Top ASC Challenges That Can Impact the Patient Experience

As the healthcare industry evolves, some crucial challenges remain for ASCs. Many ASCs are still running lean throughout the pandemic.

Due to the pandemic and payment updates from CMS, the ASC landscape has also changed significantly in the past year.

As surgery centers recover financially and operationally, these pressing challenges may impact the patient experience:

        Staffing Shortage

        Red Flag
        Red Flag

        There has been a major staffing shortage going on in the healthcare industry for years that is exacerbated by the pandemic. It will continue to be a significant challenge to find enough qualified nurses and other staff for surgical facilities.

        ASCs are scrambling to recruit the needed personnel to provide high-quality care for incoming patients. According to the 2021 OR Manager Salary/Career Survey, 40% of ASC leaders reported that the most common staffing challenge was hiring more direct care staff.

        The high price of dealing with the COVID-19 staffing crisis is another financial hit for surgical facilities. When expenses are going up and not enough revenue is coming in, surgical facilities’ financial health are suffering.

              Overworked Staff and Workflow Inefficiencies

              Overworked
              Overworked

              When there’s inadequate staff, those who are on staff would be obliged to work more hours.

              This puts a strain and significant stress on staff and results in burnout – a long-standing issue in healthcare.

              A recent study analyzing data from 3.9 million nurses revealed that of those nurses who left their current employment (9.5% of the respondents), 31.5% reported leaving because of burnout.

              According to Medscape’s 2021 National Physician Burnout & Suicide Report which surveyed over 12,000 physicians, 42% said they were burned out. The biggest contributors to burnout might surprise you:

              • 58% of respondents said that dealing with too many bureaucratic tasks is the biggest contributor to their burnout (topping the list)
              • 37% of respondents attributed their burnout to spending too many hours at work.

              This means many physicians are trying to get administrative tasks done, which sacrifices time for patient interaction. When staff is overworked with not enough personnel to provide adequate OR assistance, the patient experience and operating room procedures suffer as a result.

                Impact of Regulatory Changes

                X-Ray
                X-Ray

                With the CMS 2020 Final Payment rule in effect, ASCs will increasingly handle more high-acuity cases and more types of surgeries – especially joint replacements and spine surgeries.

                These specialties are high-reimbursing for hospitals. With the continued migration of these procedures, independent centers can expect more competition from hospitals and hospital-based surgery centers.

                The increase in joint replacement surgeries at ASCs would be a great opportunity to boost volumes and revenues. But this increase in the volume of surgical procedures would also result in the increased need for staffing.

                Increasing Bad Debt

                Debt
                Debt

                According to a recent medical debt survey by Debt.com, 50 percent of Americans now carry medical debt, up from 46 percent in 2020.

                How ASCs would approach bad debt recovery and patient collections can substantially affect their revenue and also the patient experience and satisfaction.

                With more than 137 million Americans burdened with medical debt, the challenge is up for ASCs in embracing new approaches to patient billing and collections.

                How ASCs Can Win the Patient Experience

                ASCs need to stay on top of these challenges and continue striving to make their surgical facilities the safest and best option for a patient’s surgery, more so for elite athletes.

                ASCs are in a unique position to be able to deliver cost-effective, high-quality care and positive patient experiences. Patients often remark that their experience with ASCs don’t feel clinical, but more like a spa.

                For many surgeries, patients often come accompanied by their friend or family member as they are not allowed to drive themselves home.

                This is why the best ASCs provide more than just positive clinical outcomes – they provide concierge-like services to patients and their families.

                Surgical facilities need to ensure that staff is free to care for patients and someone is available to attend to guests in the waiting room.

                In the ASC environment, patients are looking for a personal interaction, not just a medical one. Having adequate dedicated staff guarantees that each patient will receive an exceptional degree of individualized care.

                One surgical administrator in Colorado found that having a patient financial counselor was the smartest thing they have done to improve the patient experience as they’ve seen much higher patient satisfaction as a result.

                Conclusion

                By working with Mnet, ASCs can quickly stay on top of their challenges in order to consistently provide an exceptional patient experience even during this pandemic.

                Mnet offers a concierge-based approach to helping patients pay which not only increases cash flow, but also contributes to a positive patient experience.

                With its First-Party Patient Billing solutions, Mnet provides every patient with the best experience possible by providing an exceptional level of service. Our Patient Financial Advocates help patients understand their bill in over 200 languages, provide financial counseling and easy ways to pay, including sensible payment plans and financing options.

                Mnet also offers innovative technologies that support concierge-level services like Text-to-Pay and PaySUITE to deliver patient financial services and state-of-the-art payment technology custom-branded to your facility.

                Having an RCM partner like Mnet helps ASCs overcome their top challenges and reap these benefits:

                • Free up limited staff and resources to focus on patient interaction and personalized care instead of billing and collections.
                • More efficient workflows translates to less-stressed staff, higher staff retention, and avoids future turnover costs.
                • Reduced administrative burden so that surgery centers can see more patients while preventing surgeon burnout.
                • Increased cash flow and streamlined processes with the help of innovative payment technologies.

                With Mnet as your partner, your ASC can stand out with its concierge-style patient experience that’s fitting for stars!



                About Mnet

                technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Everyday Heroes - Anthony Novella

                One Medical Passport and Mnet Health Announce the 2021 Winner of ‘Everyday Heroes Program’ to Honor the Unsung Heroes of Outpatient Surgery

                The 2021 ASC Everyday Heroes Program has concluded and one surgical industry professional has been named the ‘Everyday Hero’.

                ALISO VIEJO, CA (PRWEB) DECEMBER 02, 2021 – One Medical Passport and Mnet Health announced the launch of their second round of the Ambulatory Surgery Everyday Heroes Program in July 2021. The program was initially launched in 2020 as a way to give back to the ASC community and recognize, honor, and reward the remarkable outpatient surgery professionals who have gone above and beyond their role and touched the lives of so many.

                “We want to give back to the ASC community that we’ve worked so closely with for more than 20 years”, said Stephen Punzak, MD, Founder of One Medical Passport. “As an anesthesiologist, I know that it is the nurses and techs who are the heart of outpatient surgery. We created the Ambulatory Surgery Everyday Heroes Program to celebrate these unsung heroes who make every surgery happen.”

                The program received hundreds of inspiring stories of Everyday Heroes from surgical facilities across the country. The program committee narrowed down those submissions to the Top 10 Contestants. The voting polls then opened up, where the public casted votes for their favorite Everyday Hero.

                The program committee then tallied up all votes to determine the Top 3 Finalists. Finalists included Anthony Novella, Director of Nursing at Orthopaedic Surgery Center at Bryn Mawr Hospital; Colbie Page, PreOp/PACU Nurse and Pharmacy Nurse at Texas Health Joint Replacement Surgery Center; and Andy Hernandez, Lead Endoscopy Technician at Arrowhead Endoscopy & Pain Management Center.

                A panel of judges, including Joanna Geisinger, CEO of Torq; Stephen Punzak, MD, Founder of One Medical Passport; and Derek Smith, CEO of Mnet Health, reviewed each story and video submission and also took into consideration the number of votes each Finalist received. After careful consideration, the 2021 ASC Everyday Hero winner is Anthony Novella, Director of Nursing at Orthopaedic Surgery Center at Bryn Mawr Hospital; a ValueHealth facility.

                Anthony received hundreds of votes from the ASC community. Dawn Porrini, Pre-op/PACU Nurse Manager at Orthopaedic Surgery Center at Bryn Mawr Hospital expressed, “Anthony is such an AMAZING role model and leader. He comes to work every day with a positive attitude ready to tackle all obstacles that come his way. In the midst of being new to the Director of Nursing role, he shined like the star that he is during the COVID pandemic. He kept his staff safe, working hard, and staying positive during the everyday changes that were happening. Just being in his presence makes the working day more pleasant. He makes each staff member feel important and makes time for them throughout the day. I learn so much from him and thrive to be the nurse and fabulous person that he is. We are so lucky to have him as the Director of Nursing of our facility.”

                The teams at One Medical Passport and Mnet Health are so honored to recognize and celebrate Anthony as the 2021 ASC Everyday Hero. Anthony received a $2,500 cash prize, $2,000 donated to the charity of his choice and $500 towards lunch for the Orthopaedic Surgery Center at Bryn Mawr Hospital.

                To read the original press release, click here.

                About Mnet Health

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a whitelabeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.

                About One Medical Passport, Inc.

                One Medical Passport (1MP) is the leading provider of cloud-based workflow solutions to the ambulatory surgery industry. 1MP is dedicated to continuously improving outpatient surgery for patients, staff and physicians alike. For more information visit, 1mp.com.


                Importance of Early Out

                Improving Patient Billing / Early Out and Bad Debt Collections for ASCs

                In healthcare, patient billing, also known as early out collections, and bad debt recovery can substantially affect revenue and patient satisfaction. Getting the process right is vital.

                According to a recent medical debt survey by Debt.com, 50 percent of Americans now carry medical debt, up from 46 percent in 2020. Most respondents carry between $1,000 to $5,000 worth of medical debt.

                New research published in JAMA also revealed that Americans owed nearly $140 billion in unpaid medical bills to collection agencies in 2020.

                This $140 billion does not even include medical bills owed to providers, nor those paid with credit cards or on long-term payment plans.

                With more than 137 million Americans (i.e. 42 percent of the national population) burdened with medical debt, healthcare providers and surgical facilities need to embrace a new approach to patient billing and collections.

                When it comes to debt collections, time is of the essence.

                In general, the sooner past-due accounts are sent to collections, the higher the return. Alternatively, the longer a facility waits, the less likely the debt will be collected.

                Bad Debt Collection Strategy: Assign Accounts Sooner

                Assign Accounts Sooner
                Assign Accounts Sooner

                We have written previously why it’s still important to send accounts to collections – even during Covid.

                When it comes to bad debt collection, the earlier the accounts are assigned to third-party collections, the better the performance and the more revenue recovered.

                In Mnet’s experience, it is more valuable to assign accounts to collections on Day 90-120 rather than later (Day 180-270 or 1-year+ mark).

                Our data shows that as accounts age, the chance of receiving anything back on that account drops drastically. Here are two key insights which stand out:

                • Recovery: From <90 days assignment to 90 days, the recovery percentage drops from 30% received percentage to 17%, and it continues to decline from there.
                  • This means that clients that assign (write off) accounts sooner get paid sooner, and more often.
                • Disputes: Over 90 days, the chances that an account will be disputed quadruples from about .10% to .40%.
                  • These disputes are costly for clients and present potential compliance risks. By writing off accounts sooner, your facility saves valuable time and money.

                Since collections return rates decline over time as accounts age, collecting from patients will always be a greater challenge for healthcare providers.

                A better strategy would be to utilize pre-collection approaches like early out as a preventative to assigning patient balances to bad debt.

                Early out, or patient billing, is about trying to prevent a loss, so early intervention is crucial.

                What is Patient Billing / Early Out?

                Early out, also known as patient billing, basically means working with patients and educating them about their billing, helping them understand what is actually owed versus what is not.

                During this stage, providers or early-out collection vendors reach out to patients early during the billing process, usually from Day 30 to Day 60.

                Providers send out reminders to patients about their slightly overdue payments. They might also offer to enroll them in payment plans or debt repayment programs.

                In a Day 1 patient billing process, the first statement to the patient is either sent by the provider or the vendor, with the vendor managing the patient account from this point. All incoming customer service calls during the initial statement cycle are then handled by the vendor.

                Benefits of Early Out Collections

                Benefits of Early Out
                Benefits of Early Out

                Early out helps surgical facilities shorten the revenue cycle and settle accounts as quickly as possible.

                Chasing down payments from patients can be frustrating for healthcare providers whose primary concern is patient care.

                With the rise of healthcare consumerism, early out collections must be centered around the patient’s needs. Greater emphasis should be placed on the entire patient financial experience.

                Patient billing is a very effective strategy for healthcare providers because it offers flexibility and personal communication. It might mean offering patients payment plans, discounted plans, payment options, etc.

                Patients who understand their bills and are offered flexible payment options are far more likely to pay them.

                According to a survey by the Advisory Board, most patients want financial counselors or patient financial advocates at the first point of access.

                PYMNT’s 2020 Healthcare Payment Experience Report also revealed that nearly two-thirds of patients want access to payment plans, yet only 44 percent of patients reported being offered payment plans last year.

                Here are other benefits of working with early out collections vendors:

                •     Recover more revenue
                •     Increase cash flow
                •     Lesser complaints and disputes
                •     Save resources and staff for other areas of patient care
                •     Enhanced patient financial experience

                Working with Mnet for Early Out and Bad Debt Collection

                Mnet can help healthcare organizations re-envision their patient collections to be earlier in the revenue life cycle and to lean towards risk or loss prevention.

                Mnet offers both patient billing (early out) and third-party (bad debt) collections that can benefit your facility and your patients.

                This allows Mnet to become familiar with the accounts in receivables right from the beginning and allow us to customize approaches to give your patients a better financial experience.

                By sending accounts to us early in the process, your facility is set for maximum revenue recovery.

                •     Increase your monthly patient collections by 40-100%
                •     Dramatically reduce your bad debt write offs
                •     Increase patient satisfaction through better financial experience (lesser disputes and complaints)

                With Mnet’s Billing Solutions, one surgical hospital increased their cash flow by $1.8 million and reduced their bad debt by $1.1 million in the first year alone.

                In today’s consumer-driven healthcare environment, patient satisfaction is key to your facility’s financial wellbeing.

                By partnering with Mnet, you get an end-to-end patient revenue cycle that elegantly transitions from first-party to third-party — substantially increasing cash flow and patient satisfaction.

                Learn more about Mnet’s Patient Billing Solutions.



                About Mnet

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Nurse Staffing Shortage

                How ASCs Can Navigate Major Staffing Shortage

                Staffing shortage is the most critical issue in this current COVID-19 surge—not PPE, ventilators, or bed space.

                In the United States, there has been a nursing shortage for years, but the pandemic has exacerbated that problem in ways like never before.

                The healthcare system is losing nurses and other frontline healthcare workers to burnout or to better-paying and less stressful temporary jobs.

                Some hospitals and health systems have already closed beds because of staffing shortages. For example, Detroit-based Henry Ford Health System closed 120 beds while Southfield-based Beaumont Health closed around 180 beds due to staffing challenges.

                According to a survey by The Washington Post and the Kaiser Family Foundation, nearly 30 percent of frontline healthcare workers reported that they have considered leaving the healthcare industry altogether due to pandemic-related burnout.

                In Louisiana, the state’s largest hospital system (Ochsner) had to cancel 1,160 surgeries and procedures due to staffing shortages.

                Exhausted or demoralized by the prolonged pandemic, nurses are quitting or retiring. Many are leaving for lucrative temporary jobs such as traveling nurses which pay $5,000 to $8,000 or more a week.

                Before the pandemic, the average pay for a traveling nurse was roughly $1,000 to $2,000 per week, but now it is soaring. One job ad for a travel assignment in California was even at $12,000 a week.

                This issue does not stop at nursing. The pandemic has also spurred early retirement for many physicians.

                According to a Medscape survey, about 25 percent of physicians said they made plans for early retirement during the pandemic.

                ASCs Are Losing the “Bidding War” for Nursing Staff

                Nurse Bidding Power
                Nurse Bidding Power

                Surgery centers are also navigating their own staffing challenges amidst this current surge.

                With the nationwide nursing shortage, ASCs are losing on staff recruitment and retention as nurses jump to high-paying hospital contracts with big sign-on bonuses.

                One health system offered new nurses and patient care and lab associates up to $20,000 signing bonuses in addition to relocation assistance.

                While ASCs are facing debilitating shortages, they have been used as a backup throughout the pandemic when hospital capacities are strained. Enacted in March 2020, CMS’ Hospitals Without Walls initiative allows hospitals to provide inpatient care in enrolled ASCs for the duration of this public health crisis.

                Hospitals and health systems are delaying non-emergent surgeries as COVID-19 continues to surge nationwide. This resulted in surgeons shifting their cases to ASCs which is complicated by the strain on resources.

                At the same time, some hospitals and health systems are also moving staff from ASCs to accommodate for patient influx.

                As the Staffing Crisis Grows, Revenues Take a Hit

                Nurse Staffing Crisis
                Nurse Staffing Crisis

                ASCs are also finding it hard to hire administrative staff as more companies offer work-from-home arrangements.

                Other administrative staff are stepping down or moving to part-time because of school and daycare center closures. They needed to be at home or work at home to take care of their children.

                Many ASCs are already running lean throughout the pandemic. According to the 2021 OR Manager Salary/Career Survey, during the past 12 months:

                • 56% of ASC leaders reported that recruiting experienced operating room nurses is more difficult compared last year
                • 40% of ASC leaders reported that the most common staffing challenge was hiring more direct care staff
                • 49% of ASC leaders reported an increased Registered Nurse (RN) turnover

                The high price of dealing with the COVID-19 staffing crisis is another financial hit for surgical facilities. When expenses are going up and not enough revenue is coming in, surgical facilities’ financial health are suffering.

                What ACSs Can Do and How Mnet Can Help

                Nurse Staffing - How Mnet Can Help
                Nurse Staffing - How Mnet Can Help

                Many ASCs simply cannot match what hospitals and travel nursing agencies are offering in terms of salary.

                While health benefits and competitive salary levels are important, surgery centers may be able to offer other perks for nurses or other staff they are looking to attract. Overall, it’s about making your facility a great place to work with a winning culture.

                There are many healthcare workers who have become disenchanted with working very long hours and getting little flex time. ASCs can provide a work-life balance that they are likely unfamiliar with, as surgery centers typically don’t require nights, weekends, holidays, or call changes.

                With Mnet as your partner, your facility can free up your employees and resources to focus on patient care and patient scheduling, instead of billing and collecting payments.

                The process of billing and collections can be time consuming and frustrating for surgery centers – especially when they should be focusing that time and energy on providing quality care and outstanding patient experience.

                Mnet’s focus is to increase recovery across patient billing which will significantly reduce bad debt—less to write off each month.

                By working with Mnet, one surgical hospital increased their cash flow by $1.8 million and reduced their bad debt by $1.1 million in the first year alone with Mnet’s First Party Billing Solutions.

                Mnet works as a seamless extension of your facility. Our multilingual Patient Financial Advocates (covering over 200+ languages) make and take calls as your facility billing department and are available to support your patients from 8am- 8pm CST M-F and on Saturdays from 9am-3pm.

                Our agents can answer any billing questions, offer payment or payment plan options, and accept CareCredit payment from the patients.

                Conclusion

                Working with Mnet means being able to increase your cash flow and revenues.

                Healthcare labor costs typically account for at least half of a facility’s expenses. According to a report by Gartner, employee wellbeing is the priority during this crisis to ensure resilience long term.

                With increased revenue, your surgical facility will be able to invest in more and better perks, compensations, and benefits for staff.

                This way, your facility will be seen as committed to attracting and retaining your staff.

                By working with Mnet, your facility can successfully navigate this healthcare crisis and nationwide peak on staffing shortage.



                About Mnet

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Mnet Health Acquires One Medical Passport

                Mnet Health Announces Acquisition of One Medical Passport, Inc.

                Premier ASC revenue cycle management and patient-pay leader acquires ASC workflow leader: combined entity creates industry leading offerings and scale.

                ALISO VIEJO, Calif.Oct. 5, 2021 /PRNewswire/ — Mnet Health, an industry leader in patient financial solutions for hospitals and ambulatory surgery centers (ASC), has announced the acquisition of One Medical Passport, Inc. The deal, which officially closed on October 1, 2021 brings together two innovative market leaders to create one of the largest footprints within the ASC space.

                Serving millions of patients annually, Mnet Health is the preferred vendor to leading ASC management companies throughout the country. The acquisition of One Medical Passport, Inc. further positions the company to deliver unparalleled technology, services, and economic benefits to its customers.

                With the acquisition, the organization will now serve nearly 1,500 total facilities nationwide. The combined offerings will streamline the patient experience from registration through patient financial solutions. The front-end SaaS solution, combined with high-touch payment services, creates a seamless patient, staff, and organizational experience for the ASC market.

                “This deal effectively raises the bar on offerings that were previously available within the industry. Our team wakes up every day thinking about how to make the healthcare experience better. We identified several gaps in how patients schedule, register, engage and pay  and we solved these challenges,” said Derek Smith, CEO, Mnet Health. “Beyond the offering, what excites me most is the unparalleled commitment to patient and staff-satisfaction that each organization has demonstrated separately. Together, we deliver a frictionless patient experience, create significant operational synergies, especially for nurses, and generate tangible financial returns for our ASC partners.”

                “At One Medical Passport, Inc, we have passionately created technology solutions from a physician’s point-of-view that empower ASCs to deliver the best care possible while improving patient experience and staff satisfaction,” said Stephen Punzak, MD, founder and CEO.  “In Mnet, we couldn’t have found a better home for our clients, one which will afford us new levels of investment and resources for our clinical solution. We are beyond thrilled to join the Mnet family—a team who has demonstrated a similar, unwavering commitment to the ASC community. Together, I believe we are a perfect fit to reach a new level of value for the financial health of our partners and most importantly, the health of their patients.

                About Mnet Health.

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare. Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices. Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.

                About One Medical Passport, Inc.

                One Medical Passport is the leading provider of cloud-based workflow solutions to the ambulatory surgery industry. 1MP is dedicated to continuously improving outpatient surgery for patients, staff and physicians alike. For more information visit, https://1mp.com/.

                MTS Health Partners, L.P. served as exclusive financial advisor and TCF Law Group, PLLC and Soloway Schwartz, LLC served as legal advisors to One Medical Passport and DLA Piper served as transaction counsel to Mnet Health.

                For More Information

                John Gonda
                616-309-4888
                JGonda@sage-growth.com

                To read the original press release, click here.




                Elective Surgeries

                Staying Ahead Amidst Postponed Elective Surgeries

                A growing number of US hospitals have canceled or postponed elective surgeries due to the surging number of Americans sick with Covid-19 (fourth surge).

                According to the Centers for Disease Control Prevention (CDC), more than 95 percent of the new COVID-19 cases in the United States involve the highly infectious Delta variant.

                With the current Delta surge, hospitals and health systems are again postponing elective surgeries in order to preserve staff and free up hospital beds – especially in Florida, Texas, and Louisiana.

                On August 9, Texas Governor Greg Abbott called on hospitals to voluntarily postpone procedures for which delay would not lead to a “loss of life or a deterioration in the patient’s condition.”

                These elective procedures, such as echocardiograms and hip replacements, are also typically among the most profitable for hospitals and a major source of their revenue.

                According to a study, halting major elective surgery during the pandemic cost US hospitals an estimated $22.3 billion.

                A typical 1,000-bed hospital system would lose about 50 percent of its quarterly revenue with a moderate surge in COVID-19 patients, according to estimates by the Advisory Board.

                Elective Surgeries Shift to ASCs

                ASC
                ASC

                When surge scenarios occur, health systems respond by utilizing ASCs, home care, and partner hospitals to treat patients.

                Ambulatory surgery centers (ASCs) are now taking on extra elective procedures and gearing up to support hospitals as they focus on caring for COVID-19 patients.

                This shift toward ASCs may put pressure on the business office as most surgery centers are already running lean during this pandemic.

                The responsibility of rescheduling and financially clearing patients whose procedures have been postponed will inevitably fall on the business office teams.

                It is worth noting that staffing shortages and burnout are still issues that facilities are confronting since the start of the pandemic.

                Scheduling and registration departments, already stretched thin, are also dealing with much heavier workloads.

                In the surgical industry, scheduling alone is a very complicated process which considers everything from room and equipment availability to the schedules of specialists like anesthesiologists and radiologists.

                Amidst this fourth Covid surge and its financial effects, it is more crucial than ever that ASCs collect payments from patients in a timely and efficient way.

                With surgical facilities running lean with thin margins, they need to be financially sustainable like any other business in order to continue to provide important healthcare services to those in need. They need to observe and mitigate growing patient balances in order to prevent future collection problems, as many patients find themselves struggling to pay their bills during the pandemic in the face of rising healthcare costs and economic uncertainty.

                Successful patient-balance collections requires a focus on helping patients afford their medical care and a more humanized, patient-centric approach to managing patient balances.

                To reduce the risk of delayed payments or even non-payment, ASCs need to hand-hold patients regarding their financial responsibilities and provide patients with flexible and personalized patient payment options.

                According to Elavon’s 2021 Consumer Healthcare Report, patients are eager for payment options that help them manage their medical expenses, with 59% requiring recurring bill payments.

                Making it simpler and more convenient for patients to afford and pay medical bills will result in increased collections and increased patient satisfaction.

                How Mnet Can Help

                Mnet Can Help
                Mnet Can Help

                Mnet fully understands the breadth of the situation facing the surgical industry and stands ready to help.

                Mnet is ready to field inbound calls from patients pertaining to payment or process, long-term or temporarily, using remote call center technology and Patient Financial Advocates.

                With its First Party Billing Solutions, Mnet operates seamlessly with surgical facilities to increase patient satisfaction, prevent loss, and increase cash flow.

                Mnet specializes in concierge patient financial services for patients needing surgery. Its Patient Financial Advocates (PFAs) are experienced and well-trained in translating for medical patients over the phone and can communicate in over 200 languages.

                PFAs stand ready to help patients who want to make a payment, set up a payment plan, or need help understanding their bill.

                By working with Mnet, surgical facilities are able to improve their processes to become more streamlined and patient-centric by utilizing patient billing solutions and payment technologies like PaySuite and Text-to-Pay. ASCs can benefit from:

                • Paperless registration processes
                • Text billing
                • Online patient portals
                • Integrated scheduling
                • Improved billing procedures

                Conclusion

                Mnet Elective Surgeries
                Mnet Elective Surgeries

                Having an RCM partner focus on patient payments and your revenue cycle can free up limited staff to focus on providing quality care and responding to patient care needs and to the needs of other departments.

                During this extremely challenging time, Mnet stands ready as your additional boots on the ground for your business office.

                As surgical facilities take spillover cases from hospitals restricting elective procedures, Mnet can help them stay ahead of growing patient balances and avoid future collection challenges.



                About Mnet

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Healthcare Financial Concierge

                How a Healthcare Financial Concierge Boosts Patient Satisfaction

                Healthcare concierge services can elevate the patient experience and increase patient satisfaction for healthcare providers seeking to stand out from the crowd.

                With the increasing trend of healthcare consumerism, patients are demanding high quality care and better experiences with their providers.

                Healthcare consumers expect to receive patient-centered healthcare along with technologies that enable an optimized patient journey.

                Accenture’s 2020 Digital Health Consumer Survey revealed that 39 percent of consumers surveyed believe a good digital interaction has a major influence on the patient experience. More than a quarter (26%) are even willing to switch to a new provider for high-quality digital services.

                The survey also showed that healthcare consumers expect their healthcare providers to offer digital capabilities to book appointments online, receive reminders, and reduce wait time.

                This is why many healthcare providers are investing in healthcare concierge services like having patient concierge centers, patient financial advocates, and innovative payment technologies.

                Having a patient concierge center to assist patients whether they have a concern with their billing or with the quality of care they received ensures that patients leave with a happy experience.

                1) What is healthcare concierge?

                Healthcare Concierge
                Healthcare Concierge

                Healthcare concierge can be a vague term as it can mean different things to different people.

                It could mean the healthcare arrangement in which patients pay a certain fee (monthly, quarterly, or annual fixed fee) to receive care at a medical practice or physician.

                This type of healthcare concierge is also called concierge medicine, retainer medicine, or fee-for-care (FFC). Patients pay fees for conveniences like same-day appointments and 24/7 physician availability.

                Healthcare concierge can also mean the convenience services which manage the non-clinical needs of patients and their families. This is also known as “patient concierge” or hospital concierge and can benefit the patient experience greatly as well as the facility’s revenue cycle.

                Patient concierges also manage other customer service-centric tasks like helping patients understand their medical bills and financing options. Hospital concierges can do almost anything for patients that falls outside the scope of clinical staffs’ duties.

                Healthcare concierge takes the patient experience to the next level. Unlike medical professionals, patient concierge services focus on making patients and patient families’ hospital visits comfortable and convenient.

                Similar to delivering concierge services to guests at a hotel, healthcare concierge services focus on creating exceptional experiences for patients in a hospital setting.

                2) What are the benefits of healthcare concierge to both providers and patients?

                Benefits of Healthcare Concierge
                Benefits of Healthcare Concierge

                Today’s digital landscape has changed the expectations of consumers. One can order something online and it’s delivered the same day with just a few clicks.

                Healthcare consumers expect to get the same frictionless experience and will choose medical providers who offer digital capabilities and concierge-level type of services — going above and beyond for patient satisfaction.

                In essence, here are some of the benefits of healthcare concierge to both patients and providers:

                • Customer service and the patient experience becomes a priority
                  • In one survey, only 9% of US employees showed an understanding of basic insurance terms. That’s why patients need support in navigating the confusing health care system and its terminologies.
                  • While there is a lot of information online, it makes a difference to patients to have an actual person explain everything — especially for something as complicated as health insurance.
                • Providers operate more efficiently
                  • Having an exceptional healthcare concierge program allows doctors, nurses, and other hospital staff to focus on patient care without the administrative burdens and pressures.
                  • Utilizing technologies that streamline processes and improve the patient experience can help free up resources so that providers can focus on delivering high quality care. Healthcare concierge services increase patients’ comfort during their stay while not affecting the workload of their care teams.
                • Improve patient satisfaction and hospital productivity
                  • Concierge-level types of services or one-on-one support help providers improve their relationships with patients leading to better patient satisfaction and loyalty. These services help patients overcome obstacles to getting the care they need and being able to pay their medical bills.

                3) Mnet’s Healthcare Concierge Services

                Mnet's Healthcare Financial Concierge
                Mnet's Healthcare Financial Concierge

                A digital concierge service might sound like a luxury, but with Mnet as your partner, your facility will stand out from the crowd.

                By working as an extension of your facility with its First-Party Patient Billing solutions, Mnet provides every patient with the best experience possible with exceptional level of service. We help patients understand their bill in over 200 languages, provide easy ways for them to pay including sensible payment plans and financing options.

                Mnet offers innovative technologies that support concierge-level of service like:

                • Text-to-Pay – allows your facility to send patient invoices, reminders, collect payments, and provide receipts all via text message. With this platform, all patient financial services —from payment in full to pay-plans and financing — can be neatly offered in a text experience.
                • PaySUITE – Mnet’s state-of-the-art payment technology is custom-branded to your facility. PaySUITE has everything you need for your patients to pay – from online & mobile bill pay, self-help payment plans & financing options, and customer phone support with multi-lingual agents.

                Mnet’s Patient Financial Advocates (covering 200+ languages and available nights and weekends) are uniquely trained to answer patients’ questions and educate them about their financial responsibility, including offering payment plans and financing options.

                Conversations with patient financial advocates or patient concierges who can speak in their native language can go a long way to make visitors and patients more comfortable.

                By partnering with Mnet, healthcare facilities can quickly provide an exceptional experience at par with the level of services offered by retail or hospitality.



                About Mnet

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Revenue Cycle Management

                Why Healthcare Revenue Cycle Management Is More Crucial Now Than Ever

                In the healthcare industry, revenue cycle management (RCM) is the foundation of financial health. Revenue cycle management can spell the difference between struggling to survive and flourishing financial success.

                From small practices to large health systems, every healthcare organization needs to develop systems and processes in order to stay financially healthy—and that’s where revenue cycle management comes in.

                As healthcare regulations, patient trends, and technology are changing at an increasingly rapid pace, it is more crucial than ever for providers to evaluate their need for more reliable and better revenue cycle management solutions.

                Due to COVID-19, 75 percent of hospitals and health systems across the United States will permanently change revenue cycle management, according to a 2020 HFMA Pulse Survey.

                The move toward value-based reimbursement, patient consumerism, and the pandemic aftermath has pushed providers to take a closer look at the way they approach revenue cycle management.

                What is revenue cycle management (RCM)?

                RCM
                RCM

                Revenue cycle management (RCM) is the financial process of handling billing, payment processing, and revenue collection within a corporation.

                RCM involves managing, collecting, and optimizing the revenue generated by medical services provided to patients.

                It also covers a wide aspect of a healthcare organization’s operations—from financial strategy and policies to appointment scheduling, eligibility verification, coding, billing, claim submission, denial management, etc.

                In healthcare, an end-to-end revenue cycle management process cycle begins when the patient makes the appointment and ends with successful payment collection or the write-off the bill.

                For other industries, such as retail, this process can be completed almost instantaneously. However, in healthcare, it is a much more complex process.

                The Healthcare Financial Management Association (HFMA) defines the healthcare revenue cycle as “all administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue.” The revenue cycle process encompasses the entire life of a patient account.

                Here are the major steps involved in revenue cycle management:

                • Pre-registration and Pre-authorization: Before a patient arrives for inpatient or outpatient procedures, providers obtain pre-registration information such as insurance coverage, financial and demographic information, and eligibility.
                • Registration: This step involves collecting subsequent patient information during registration and ensuring that patient information is 100% accurate. Providers also collect and ensure a referral or authorization is in place to treat the patient.
                • Charge Capture and Coding: This stage involves rendering medical services into billable charges and properly coding diagnoses and procedures which in turn determine reimbursement amounts.
                • Claim Submission: This step involves submitting claims of billable fees to insurance companies as well as verifying that claims are clean and going in the door correctly (claim scrubbing).
                • Remittance Processing and Denials Management: Once claims have gone out, providers will get remittances back. This step involves applying or rejecting payments through remittance processing. If this process and the reports are not being reviewed, providers could miss the chance for an appeal and the opportunity of correcting a mistake.
                • Third-party / Insurance Follow Up: In this stage, providers look at what has been paid and what has not been paid and then communicate with insurers regularly to collect reimbursements without errors or denials.
                • Patient collections: Once payer reimbursement is on its way, out-of-pocket cost is then posted for the patient to pay. This step should also include quality patient collections services from RCM service vendors.

                Why is having a robust revenue cycle management (RCM) process important in healthcare?

                Revenue Cycle Inefficiencies
                Revenue Cycle Inefficiencies

                Effectively managing revenue is essential for any kind of business to ensure that incoming cash is sufficient to pay for expenses.

                Due to the complexities of billing and revenue collection in healthcare, revenue cycle management plays a critical role in ensuring a healthy bottom line.

                In the United States, 15% of every healthcare dollar spent goes toward revenue cycle inefficiencies, according to a McKinsey research.

                Inefficient processes across the revenue cycle can cost healthcare providers billions of dollars each year.

                When revenue cycle performance lags across key areas, the average 350-bed hospital misses roughly $22 million in revenue capture opportunities, according to the Advisory Board.

                Partnering With Mnet Health: The Premier RCM Company

                Providers look to Mnet as their trusted RCM partner to transform their revenue cycle and provide the ultimate financial experience to their patients.

                Working with over 900 surgical hospitals and ambulatory surgery centers across the US, Mnet Health is the premier Revenue Cycle Management (RCM) and technology company providing customized patient-pay solutions.

                By working with Mnet, one surgical hospital increased their cash flow by $1.8 million and reduced their bad debt by $1.1 million in the first year alone with its First Party Billing Solutions.

                Mnet helps providers tap into the consumer-driven mindset of today’s patients, empowering them to take charge of their financial situation using integrated payment technologies like PaySuite and Text-to-Pay.

                Key to Mnet’s success with its clients are its Patient Financial Advocates who can communicate in over 200 languages—whether patients want to make a payment, set up a payment plan, or need help understanding their bill.

                Mnet operates seamlessly with your facility to bring end-to-end revenue cycle management and help your facility earn millions by improving your revenue cycle and transforming the patient financial experience.

                The value that the right RCM partner can bring to the table is immense.

                Choosing the right partner for revenue cycle management can help your facility increase cash flow, maximize revenue, reduce expenses, and improve patient satisfaction.



                About Mnet

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Patient Reviews

                How Patient Reviews Can Boost Your Practice’s Revenue

                Patient reviews are becoming more important than ever with the rise of healthcare consumerism.

                As patients shop online to find the right physician or provider that meets their expectations, they will be turning to online reviews in evaluating their decisions.

                A 2020 SoftwareAdvice survey of over 1,000 patients in the US revealed that 71% use online testimonials as the first step in finding a new physician.

                In essence, healthcare consumers are simply doing their homework online before choosing a doctor or provider.

                They are looking to see what other patients think about a certain practice or doctor they are considering. When they see a practice with no reviews, it can raise some doubts on the quality of that practice.

                Online patient testimonials often constitute the first impression you make on many potential patients.

                That’s why your online presence and reputation has a very big impact on the success and growth of your practice.

                How Reviews Influence Patient Decisions

                Online Research
                Online Research

                In healthcare, patients write reviews to share their experience and help others make informed decisions.

                According to a 2021 PatientPop survey, 75% of people have looked online to find out about a provider or medical care.

                In the same survey, 74 percent of patients find online reviews as the most influential online resource in choosing a provider.

                The top channels where patients post their testimonials are as follows (PatientPop survey):

                • Google (49.1%)
                • Practice’s website (35.1%)
                • Yelp (17.3%)
                • Facebook (17.0%)
                • WebMD (12.2%)
                • Healthgrades (10.2%)

                Due to the higher stakes involved in choosing a trustworthy provider, consumers find reviews very important.

                In fact, 79% of consumers trust online testimonies as much as personal recommendations from friends or family. This even goes up for 18-34-year-olds at 91%.

                Patients who have a positive experience are more likely to return and recommend the practice to others through word-of-mouth or online reviews.

                Patient reviews matter so much that, in the 2020 SoftwareAdvice survey, 43% said they would be willing to go out of their insurance network for a provider with better testimonies.

                According to a study by NRC Health, about six out of ten (59.9%) patients selected a doctor based on positive reviews and nearly the same percentage (60.8%) of patients avoided doctors based on negative ones.

                Strategies To Get More Patient Reviews

                When it comes to patient reviews, it’s important to focus on both quality and quantity.

                Here are some strategies and tools for healthcare providers to generate more reviews which could lead more patients to their practice.

                1. Improve the patient experience

                Positive Reviews
                Positive Reviews

                The patient experience always comes as number one. Patients often leave a review when they receive superior care and outstanding experience. On the other hand, patients also leave ones when they are angered or frustrated.

                By creating a better patient experience from quality of care to financial experience, you create something that patients can actually promote online. Patients are also looking beyond medical skill or quality such as customer service, office environment, and convenience.

                2. Encourage patients to write reviews

                Online Review
                Online Review

                According to BrightLocal, 7 out of 10 people will provide an online review if they are asked.

                Telling patients that their testimonials are important to your practice will go a long way. You can also run email campaigns or SMS campaigns to ask for patient reviews as these are some of the most effective tools today.

                3. Improve your digital presence

                Be accessible on multiple review sites or sources like Google, Yelp, Facebook, Healthgrades, or Vitals. Patients won’t be able to review you if they can’t find you.

                Make the process as simple as possible for your patients—which means meeting them where they are.

                Patient reviews are absolutely vital for any healthcare organization. The more positive reviews your practice has, the more patients your practice will attract and retain.

                Patients want their voice heard. They want their testimonies to count for something and they want other patients and their provider to know that.



                About Mnet

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Justin Zaitz CFO

                Mnet Health Strengthens Executive Leadership Team with a New Chief Financial Officer, Justin Zaitz

                Mnet appoints tenured finance executive, Justin Zaitz, to CFO.

                ALISO VIEJO, CALIFORNIA, AUGUST 9, 2021 — Mnet Health today announced that Justin Zaitz has been appointed Chief Financial Officer. Mr. Zaitz is a tenured finance executive that comes with extensive medical device and health care SaaS experience.

                “Finding the right finance leader to add as CFO has been a top priority, and I am thrilled that Justin is joining the Mnet Health team. The role of CFO at Mnet Health is critical to scaling and supporting our high-growth business. Justin’s broad experience is the perfect match to support our continued growth,” said Derek Smith CEO of Mnet Health.

                As Mnet Health continues to grow, Zaitz’s move to the company will mature processes and financial controls, while leveraging analytic based insights to drive business performance. Zaitz is a proven leader who has established strong relationships and built high-performing teams in his career.

                “I am excited to join Mnet and invigorated by the possibilities the future holds for this rapidly growing company. Mnet’s concierge-based approach to helping patients pay resonates with me, as it not only increases healthcare provider cashflow, but also contributes to a positive patient experience. As I join the Mnet team, I am eager to evolve operational and financial aspects, while building upon the solid foundation and historical momentum,” said Mr. Zaitz.

                Prior to this appointment, Zaitz has had a successful 16-year career in finance and accounting. Most recently, Zaitz served as the Director of Financial Planning and Analysis, Global Operations with Medtronic, which is amongst the largest medical device companies in the world. In this role he oversaw reporting, forecasting, and consolidations more than 30 global manufacturing sites. While at Medtronic, he also served on the Finance Separation Management Office for the Patient Recovery divestiture to Cardinal Health, managed global teams supporting research and development, and facilitated active portfolio management. Previously, Zaitz operated with Global Healthcare Exchange, the leading provider of healthcare supply chain solutions, where he started his career as a Financial Analyst progressing through several sales and revenue-focused roles to a management level.

                To read the original press release on PRweb, click here.



                About Mnet Health

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare. Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Patient Payment Options

                Do You Know Why Patient Payment Options Are Vital In 2021?

                Flexible and personalized patient payment options are needed more than ever as patient financial responsibility continues to grow.

                Medical care is expensive. In fact, 99% of bills that exceeded $3,000 were not paid in full according to a TransUnion analysis in 2017.

                Approximately 21 million Americans have high deductible health plans where they must pay 100% of out-of-pocket expenses until they satisfy the deductible – which could be in the thousands of dollars.

                At the same time, 69% of Americans have less than $1,000 in savings according to a survey by GOBankingRates.

                The economic uncertainty is causing patients to conserve their cash flow.

                Patients “shop” for more affordable healthcare services and demand better patient experiences—a trend we all know as healthcare consumerism.

                The pandemic has created a pinch to both patients and providers—patients are struggling to pay for needed healthcare services while providers are experiencing a downturn in their revenue.

                The key to solving this issue is through flexible patient payment options and payment plans such as what Mnet’s PaySUITE offers.

                During this time of financial hardship, providers are seeing a big boost in the use of payment plans.

                From e-statements to text billing, technology has also made paying for goods or services incredibly convenient thereby increasing consumer demand for a variety of payment options.

                Patients want payment plans and personalized payment options

                Patient Payment Options
                Patient Payment Options

                Patients need help in managing their financial responsibility in a way that doesn’t create financial stress.

                Personalized and flexible payment plans allow providers to get more patients to have access to healthcare services they need the most during this time.

                Simply sending a paper statement or an email of a patient’s balance just doesn’t cut it anymore in today’s healthcare landscape.

                To meet patients where they really are, providers need to give multiple payment options, channels, and payment methods like online payments and text-to-pay.

                Healthcare providers also need to look at patients’ financial situations and create personalized payment plans that make sense in terms of the amount and the period that works for them.

                They also need to determine whether patients qualify for financial assistance or charity care.

                Benefits of flexible payment options

                As the world emerges from the pandemic, flexible patient payment options will become a key competitive advantage for providers.

                A 2019 survey found that out of the patients who use payment plans, 76% reported they would complete all payments on time.

                Other benefits include:

                • Increased patient satisfaction

                Creating personalized payment plans means providers work proactively with patients to help determine their ability to pay and help them manage their medical expenses. This helps improve the patient’s financial experience and overall satisfaction levels.

                At the same time, patients can be saved from the embarrassment of being unable to pay and from having their credit scores impacted.

                • Increased cash flow and revenue

                Flexible payment plans allow providers to get paid faster and avoid having to chase patients with unpaid balances. It also allows providers to open their doors to more people who need medical care.

                Therefore it’s important for providers to work with partners that offer 100% acceptance like Mnet’s PaySUITE to allow for 100% inclusion, never needing to turn any patient away due to credit history.

                • Increased patient loyalty

                Patients deeply value flexible, interest-free financing plans and payment options.

                Patient financing programs drive patient loyalty. This has been the experience of Texas-based Baylor Scott & White.

                According to Sarah Knodel, SVP of revenue cycle for Baylor Scott & White, 91% of their patients are saying they return because of the healthcare system’s patient financing programs and 87% would refer them to family and friends.

                PaySUITE: Complete Patient-Provider Solution for Customizable Patient Payment Options

                With Mnet as their partner, providers can focus on delivering an exceptional experience through flexible patient payment options.

                Mnet’s PaySUITE provides an end-to-end payment solution in helping patients pay from patient portals to customizable finance offerings.

                A custom-branded web and mobile platform, PaySUITE is designed to offer 100% acceptance through custom payment plans, financing, and charity care where applicable.

                Providers gets custom branded:

                • Website(s)
                • Compliant Text-to-Pay solution
                • Customizable finance offerings

                Patients get:

                • Online & mobile bill pay
                • Self-help payment plans & financing options
                • Customer phone support with multi-lingual agents

                With PaySUITE, providers get a full suite of tools which allows them to have a payment solution for every patient.



                About Mnet

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Out-of-pocket Expenses Mnet

                How Are Out-of-Pocket Expenses Affecting Patients in 2021?

                Increasing out-of-pocket expenses or patient financial responsibility is one of the biggest trends happening in healthcare today.

                Struggling to keep up with their financial responsibility, patients are becoming more cost-conscious as insurers pass the risk to them with high-deductible health plans.

                According to a recent nationwide survey by Healthcare Insider, 56 percent of US adults are worried their out-of-pocket healthcare costs would lead their household into bankruptcy when they get ill.

                The survey also revealed that the top reason patients skip healthcare is because out-of-pocket expenses are too high, and they could not afford it (32 percent).

                Healthcare affordability and out-of-pocket patient costs have been in the spotlight during this pandemic when everyone may need access to healthcare.

                Many patients acknowledge the need to be able to access healthcare at least when they are feeling Covid symptoms.

                However, health insurance out-of-pocket maximums have been increasing each year.

                Health insurance plans set their own out-of-pocket maximums but have an upper limit on how high out-of-pocket costs can be which is imposed by federal regulations.

                For the 2021 plan year, the maximum out-of-pocket or upper limit is $8,550 for an individual and $17,100 for a family.

                In the recently published final Notice of Benefit and Payment Parameters for 2022, this upper limit increased to $8,700 for an individual and $17,400 for a family.

                For perspective, this new out-of-pocket maximum in 2022 is 37 percent higher than it was in 2014.

                What is an out-of-pocket expense / maximum related to healthcare?

                Out-of-pocket Expenses Mnet
                Out-of-pocket Expenses Mnet

                A health insurance plan’s out-of-pocket maximum is the total amount you would have to pay in a plan year. These are medical expenses that aren’t reimbursed by your insurance.

                Once you spend enough to reach your plan’s maximum in a given year, the insurer will then cover 100% of your medical bills.

                Out-of-pocket costs include:

                • deductibles – the amount you need to pay before your insurance benefits kick in;
                • copays – small flat fees that you pay on the spot each time you go see a doctor, fill a prescription, visit a specialist, go to the emergency room, etc.;
                • coinsurance – the portion of the costs of a healthcare service that you pay after you’ve paid your deductible, but before you’ve met your out-of-pocket maximum.

                The out-of-pocket limit doesn’t include:

                • out-of-network care/services
                • monthly premiums
                • cost of services your plan doesn’t cover
                • costs above the allowed amount for a service that a provider may charge

                In essence, your insurer starts covering a portion of healthcare costs once you hit your deductible, and then covers all costs after you reach your out-of-pocket maximum.

                If you receive care outside your plan’s network, the out-of-pocket maximum can be higher, or it can be unlimited.

                Therefore, it’s so important to seek care in your plan network, because you’ll have lower out-of-pocket costs.

                If you receive care out of your plan network, the costs will not count toward your in-network out-of-pocket maximum.

                Patients need cost estimates and price transparency

                Out-of-pocket Expenses Mnet
                Out-of-pocket Expenses Mnet

                With higher financial responsibility, healthcare consumers are demanding more transparency in relation to healthcare pricing.

                Patients now turn to price transparency and comparison tools before a procedure or surgery to plan accordingly.

                On January 1 this year, a new regulation took effect requiring hospitals to post payer-specific negotiated rates for 300 services. This move helped open the dialogue between patients and physicians about the cost of their care.

                While this is helpful, patients still won’t know what they’re paying out of pocket due to in-network and out-of-network billing complications.

                What patients really need to understand is what the impact to their portion would be from copays to their deductible.

                Providing transparency into the true out-of-pocket costs helps patients navigate payment options before receiving care.

                How can patients pay for out-of-pocket expenses?

                Out-of-pocket Expenses Mnet
                Out-of-pocket Expenses Mnet

                Patients know they need to access healthcare, but they cannot always afford to do so.

                Cost estimates open the opportunity to discuss resources and start the conversation early on if patients can’t afford the expenses.

                A comprehensive solution to this dilemma is to provide a payment plan, which allows patients to spread payments out over a longer period and make medical care bills more affordable.

                If patients can’t afford to pay the balance, they might need payment plans and financing options.

                Healthcare facilities need to work with a partner that provides patient financing allowing patients the flexibility to customize payment options to fit their needs.

                Providers need to look for a partner that allows for a 100% patient acceptance rate like Mnet’s PaySUITE. This would mean that all your patients can get access to financing options.

                To help the patient further, payment extensions should also have zero percent interest and no credit checks. This offers your patients more time to pay their bill regardless of the remaining amount.

                A payment solution that accepts a variety of payments, including mobile pay and text-to-pay, is also crucial because it improves the patient experience and allows people to pay using the tools they already love.

                As patients navigate an economy crippled by the COVID-19 pandemic, they need all the flexibility and financial options they need to get access to needed healthcare.

                This is where your facility can really make a difference in patients’ lives.

                About Mnet

                We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                Mnet Patient Experience

                4 Effective Patient Engagement Strategies To Improve Patient Experience

                Effective patient engagement strategies are essential in improving the patient experience, especially in the era of healthcare consumerism.

                This means implementing technologies and processes that work together to turn fragmented encounters into seamless patient experiences.

                In a 2020 Digital Health Consumer Survey conducted by Accenture, 39 percent of consumers surveyed believe a good digital interaction has a major influence on the patient experience.

                More than a quarter (26%) are even willing to switch to a new provider for high-quality digital services.

                With the increasing trend of healthcare consumerism, patients are demanding better access to care and better experiences with their providers.

                Healthcare providers that are effective in engaging their patients will far exceed their competitors in driving patient volume and satisfaction.

                In this article, we’ll define exactly what patient experience is and break down patient engagement strategies your center can use to stay connected to your patients.

                What is the patient experience and why does it matter?

                Mnet What Is Patient Experience
                Mnet What Is Patient Experience

                As defined by the Beryl Institute, the patient experience is “the sum of all interactions, shaped by an organization’s culture, that influence patient perception across the continuum of care.”

                Whether it’s a phone call, a hospital visit, a smooth wait time, or the quality of care and the billing experience—all these touchpoints and other small interactions make up the entire patient experience.

                Providers need to consider how all these patient interactions work together to set the tone for a positive patient experience.

                Patient experiences not only affect patient health, but also have a direct impact on an organization’s bottom line.

                Here are some questions you can ask yourself as a provider:

                • How easy or hard is it for patients to get an appointment or to pay their bills?
                • Why do patients hesitate or delay paying their bills?
                • How are your patients being treated by your office staff?

                Today, the patient experience is no longer just about the quality of care and healthcare outcomes.

                According to a 2020 Waystar survey, more than half (52%) of respondents stated are often more concerned about medical billing than the quality of care they receive.

                What are some effective patient engagement strategies?

                Patient engagement is the willingness of patients to interact with a healthcare provider voluntarily.

                It could be the willingness of a patient to receive education about becoming more healthy or to seek out financing options and payment plans.

                For example, a patient ‘liking’ a practice’s Facebook post or checking out the patient portal are types of patient engagements which may have nothing to do with the patient’s health status.

                With so many touchpoints, you might wonder what are some of the most effective patient engagement strategies?

                  1. Cultivate the provider-patient relationship with human interaction

                  Patient Experience Human Interaction
                  Patient Experience Human Interaction

                  Effective patient engagement depends much on the ability of your center to cultivate personal and long-lasting relationships with patients.

                  Compassion and empathy are not something patients can get from an AI or an app.

                  Having a patient concierge center to assist patients whether they have a concern with their billing or with the quality of care they received ensures that patients leave with a happy experience.

                  Having a real person who can connect with patients and treat them with dignity and respect and who may even speak their language will go a long way in building patient loyalty.

                    2. Leverage omnichannel patient communication

                    Mnet Omnichannel
                    Mnet Omnichannel

                    Patient communication is the heart of patient engagement. This means providers should embrace new communication channels like online patient portals, email, text messaging platforms, and even social media in a constant effort to keep patients engaged and informed.

                      3. Tap into the digital revolution

                      Mnet Digital
                      Mnet Digital

                      In today’s high-tech, high-touch healthcare environment, patients want to be engaged when they want and how they want (email or text).

                      Technologies which allow patients to set-up payment plans, make credit card payments, or even apply for financial assistance can help patients feel more in control of the process and educated about their options.

                        4. Provide both health & financial education

                        Mnet Education
                        Mnet Education

                        Healthcare providers need to reinforce their role to provide patient education both within and beyond their facility – from health matters to financial questions.

                        Well-informed patients are more likely to adhere to treatment protocols. Educating patients about their financial obligations and the billing process also helps clear up potential confusion, making it easier for patients to pay their bills.

                        Partner with Mnet to improve both your patient financial experience and patient engagement strategies.

                        As healthcare consumerism is on the rise, providers would need to be better in engaging their patients as they expect more convenience in ways to pay and better financial experience.

                        With Mnet, providers can get ahead in winning and retaining their patients through innovative solutions aligned with their patient engagement strategies.

                        Text-to-Pay: Send patient invoices, reminders, collect payments, and provide receipts all via text message. Mnet’s Text-to-Pay platform is designed to deliver all patient financial services — everything from payment in full to pay-plans and financing all neatly offered in a text experience.

                        Patient Financial Advocates (Patient Concierge): Get uniquely trained patient financial advocates (PFAs) who can speak the patients’ language (covering 200+ languages and available nights and weekends). PFAs will answer patients’ questions and “educate” them about their financial responsibility, including offering payment plans, financing options, and compliant charity care programs.

                        PaySUITE: Get state-of-the-art payment technologies custom-branded to your facility. PaySUITE has everything you need for your patients to pay from online & mobile bill pay, self-help payment plans & financing options, and customer phone support with multi-lingual agents.

                        With patients behaving more like consumers than ever before, providers need to demonstrate the value that their patients will receive by choosing them as their provider. Make your facility stand out by partnering with Mnet today!

                        About Mnet

                        We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                        Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                        Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                        Healthcare Consumerism

                        How Healthcare Consumerism Will Affect Your Facility

                        COVID’s Effect on Healthcare Consumerism

                        With the rise in healthcare consumerism, the healthcare industry is undergoing an unprecedented level of transformation.

                        COVID-19 has dramatically altered the trajectory of consumerism in healthcare.

                        This transformation becomes clearer when you consider the data from a consumer survey done by Ketchum:

                        • During the wake of the pandemic, 45 percent of consumers reported that they have already changed their healthcare brand preference
                        • 62 percent expect to do so once the pandemic has ended

                        This begs the question: how will your healthcare facility stay competitive and top-of-mind among healthcare consumers? How will you increase patient loyalty?

                        In a recent 2021 Healthcare Consumer Trends Report by NRC Health which surveyed over 300,000 American households, 52% say that convenience is one of the most important drivers for choosing their providers.

                        For sure, technology will play an increasingly important role in this evolution. But so will the frequency and quality of human interactions.

                        Value-for-money, quality of service, and more importantly, an outstanding patient experience will be key defining factors to remain competitive.

                        In this article, we will dive into what every healthcare provider should know about this healthcare consumerism trend.

                        What is healthcare consumerism?

                        Healthcare consumerism on phone
                        Healthcare consumerism on phone

                        Healthcare consumerism means patients are becoming more involved in their own healthcare decisions and well-being.

                        In essence, it is the empowerment of the patient—the economic purchasing power and decision-making shifts into the hands of the consumer.

                        This trend has been accelerated by the Affordable Care Act, which left many consumers with large deductibles.

                        Patients “shop” for the right fit of quality and affordability. They are demanding fast, reliable, and affordable options.

                        Patients are increasingly acting like consumers, trying to make the best decisions for quality and cost—just as they do with any other commodity.

                        What does healthcare consumerism mean for providers?

                        Healthcare consumerism entails a massive transformation in how healthcare providers deliver, market, and charge for healthcare services.

                        Today, patients can access much more detailed information about important factors such as a hospital’s complication and readmission rates and even online reviews from other patients.

                        Providers will need to focus on improving the patient experience, building their brands, and operating more like a retail business in a highly competitive market.

                        Healthcare providers are now discovering what other sectors have long since known: Everything is about the patient experience.

                        Therefore, the healthcare industry is increasingly looking to the retail industry for ideas on how to meet consumers on their terms.

                        According to NTT Data, 59% of US consumers expect their healthcare digital customer experience to be similar to retail. They want healthcare experiences that are as frictionless as those offered by airlines or ecommerce industries.

                        The retail industry heavily emphasizes the convenience factor and understands this concept very well that the retail clinic market is expected to surpass $8 billion by the end of 2028.

                        The impact of healthcare consumerism and working to meet consumer demands

                        Impact of Healthcare Consumerism Mnet
                        Impact of Healthcare Consumerism Mnet

                        One of the key impacts of healthcare consumerism is that patients are becoming increasingly cautious about how, when, and where they pay for healthcare services for themselves and their family.

                        According to the Deloitte 2020 Survey of US Health Care Consumers, some of the implications of healthcare consumerism to providers include:

                        • Deploying new tools and services: Healthcare consumers are now more willing to adopt new digital tools that can play an important role in the future of care and have the potential to increase consumer satisfaction.
                        • Earning consumer trust through empathy & reliability: To earn the trust and loyalty of consumers, providers need to demonstrate transparency, reliability, and a sense of empathy in their operations.

                        Patients are now more frequently asking about their out-of-pocket expenses before receiving treatment.

                        Most patients have the ability and want to pay their medical bills, but they don’t always understand or “trust” the amounts they see on their bill.

                        Consumers want convenience and choice in their healthcare interactions. They also want their healthcare providers to harness technology in interacting with them. They want experiences that put their needs at the center.

                        Therefore, healthcare consumerism is also having major impacts on the contact centers that interact with patients on behalf of healthcare organizations and providers.

                        Having engaged conversations with patients instills trust and providing patients with tools to manage their financial responsibility empowers them to act.

                        Conclusion:

                        Online appointment scheduling, patient contact centers, mobile payment technologies, and payment plans all lead to the path towards consumer-centricity.

                        Working with patients based on their actual needs will help create a positive financial relationship with them, thereby increasing patient loyalty and boosting collections performance.

                        This is why Mnet’s Patient Billing Solutions can help your center thrive in the era of healthcare consumerism.

                        About Mnet

                        We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare.

                        Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                        Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                        Derek Smith, Mnet Health CEO

                        Mnet Health Announces Derek Smith as New Chief Executive Officer

                        Mnet Health announced today that Derek Smith has joined the company as new Chief Executive Officer.

                        ALISO VIEJO, CA, May 18, 2021  Mnet Health, the premier revenue cycle management & technology provider to the surgical industry, announced today that Derek Smith has joined the company as chief executive officer. Smith succeeds company founder David Hamilton, who has served as CEO since the company’s inception and will remain involved with the company in an advisory and board position.

                        Smith’s move to Mnet Health builds upon decades of experience in healthcare technology. Most recently, he served as Chief Revenue Officer at eSolutions, a leading healthcare revenue cycle management (RCM) company, where he oversaw rapid expansion and growth. Previously, Smith served as Chief Commercial Officer of Global Healthcare Exchange, the leading provider of healthcare supply chain solutions, where he oversaw strategy, product, and rapid market expansion, penetrating 85% of the U.S. hospital and supplier market. Additional leadership and consulting roles across sales, strategy, finance, and product development round out Smith’s extensive experience.

                        Derek Smith, Mnet Health CEO

                        “I am excited to join the Mnet Health team and to be a part of the company’s exciting growth strategy,” Smith said. “I look forward to building upon Mnet’s record of success with continued investment in our solutions, customers, and team.”

                        Lauren Illescas, Chief Operating Officer, said, “This is an exciting time at Mnet Health, we are continuing to hit new company records for revenue.  Derek’s successful track-record is centered on the customer and their satisfaction. Even more, his experience investing in solutions to increase provider cash flow will help accelerate Mnet Health’s growth while remaining committed to our mission.”

                        David Hamilton, Mnet Health’s founder and CEO, will remain involved with the company in an advisory and board position.  Hamilton led the company from its founding in 2005, creating a market-leading company that today handles more than $1.0 billion in managed balances for over 900 facilities and millions of patients.

                        “I’m proud of the positive impact Mnet Health has made on addressing the critical issue of healthcare provider reimbursement,” Hamilton said. “Building Mnet Health into a world-class healthcare technology organization has been an amazing experience. I’m excited that a proven leader like Derek has joined Mnet Health to drive further growth and success for our customers and employees and look forward to partnering with him.”

                        Smith joins Mnet Health during a period of rapid and exciting growth. The company is actively hiring additional team members and expanding its headquarters in Orange County as it continues to break records for patients and facilities served. For more information on Mnet Health and its technology, payment solutions and patient concierge service, visit mnethealth.com.

                        To read the original press release on PRweb, click here.

                        About Mnet

                        We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare. Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                        Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                        Text-to-Pay Patient Solution

                        Text-to-Pay Is The Patient Solution Your Facility Needs

                        With the advent of e-mails, app-based messaging apps, and social networks, it is easy to forget that SMS is still the most popular and dominant form of communication. In 2020 alone, there were 2.1 trillion SMS messages exchanged in the United States, according to a recent survey by the Cellular Telecommunications Industry Association (CTIA).

                        Consumers love SMS because of its overall reliability and cost-effectiveness. It has very high open rates and overall usage rates making it a potent tool as an efficient patient billing solution.

                        The average response time for a text message is 60X faster than email. While emails get lost in junk folders and phone calls go straight to VM, 95% of texts are read within 3 minutes of being sent.

                        Text billing can lead to quicker payment and improved collection efficiencies when done right. It is important that your facility understands the rules and regulations around using text as a collection tool.

                        If you have questions or concerns about text billing, the best strategy is to partner with a licensed Patient Financial Services company like Mnet Health that offers a complete text billing solution and patient call center all-in-one.

                        Benefits of Partnering with Mnet To Help Patients Pay

                        1. Get Paid Faster and Boost Self-Pay Collections by Up To 121%

                        Text-to-Pay Get Paid Quicker

                        Text messages create a sense of urgency. Creating urgency helps get you paid faster. After 6 months, a debt is only 50% recoverable. After 12 months, this drops to 10%.

                        This is why Mnet offers a complete & compliant text billing solution. With Text-to-Pay, you are guaranteed to increase your revenues by getting paid in the fastest way.

                        For example at Baylor Scott & White (Las Colinas) — within 60 days of offering Mnet’s Text-to-Pay, 63% of patients enrolled in text billing paid in full. By utilizing Mnet’s 1st Party Billing Services, the surgical hospital reduced bad debt expense by $1.1M and improved average monthly self-pay collections by 121%.

                        2. Get Concierge-Level Experience for Every Patient and Lesser Complaints

                        Text-to-Pay Concierge Experience

                        In healthcare, just sending patients text bills without helpful agents causes more complaints than payments!

                        Therefore, Mnet complements Text Billing with helpful agents or Patient Financial Advocates (PFAs) — from getting consent (ensuring that the consent process is complete) up to answering questions about the bill.

                        Having patient financial advocates who can speak the patients’ language can make a huge difference in the patient payment experience. Partnering with Mnet means you get uniquely trained patient financial advocates (PFAs) covering 200+ languages to help patients if needed.

                        These are agents who can answer patients in their native tongue about insurance coverage questions, offer financing solutions, and have a firm understanding of TCPA, FDCPA, and other relevant collection laws.

                        3. Get Best-in-Class Patient Financial Experience

                        Text-to-Pay Best in Class

                        Mnet’s Text-to-Pay solution makes it easy to pay a bill on the go. It also makes it very easy to view payment plans and financing options. With Text-to-Pay, it is also easier for patients to call their provider by tapping the phone number listed in the SMS message.

                        In one survey, almost 80% of consumers said that they wished that businesses would text them more. Text-to-Pay is a more immediate billing strategy that can improve your bottom line quickly by reaching patients where they already spend most of their time.

                        With Mnet Health’s Text-to-Pay solution, you are certain that you are going to have the best-in-class billing solution around.

                        By partnering with Mnet, your facility stands out by having:

                        • Complete & compliant text billing solution (Text-to-Pay)
                        • Service Center available on nights & weekends
                        • Multilingual Patient Financial Advocates (200+ languages are covered)
                        • Increased payment options by implementing PaySuite
                        • Payment Automation with patient accounting software and merchant services integration

                        Interested in learning more about how Text-to-Pay will improve your bottom line?

                        Request A Consult

                        About Mnet Health

                        We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare. Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                        Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                        Mnet ASC Revenue

                        3 Digital Tools to Maximize Your ASC Revenue

                        Surgery centers are gradually rebounding from the revenue impacts of 2020. However, with the massive surgery backlogs, ‘normal’ is not quite there yet thus continuing to affect ASC revenue.

                        The challenge is for ASCs to remain profitable while facilitating a safe surgical environment for both patients and staff. In addition to patient care, revenue cycle management and receiving timely patient payments is a top concern for ASCs.

                        The traditional payment model for healthcare providers across specialties is broken. For example, patients leave appointments or procedures without establishing expectations with the provider of how or when they will pay the balance. Providers are left chasing after those payments sending follow up statements and the revenue cycle stalls at accounts receivables.

                        The pandemic required surgery centers to rethink their strategies, implement new processes, and improve their patient experience.

                        During the pandemic, consumers have found several new behaviors which will continue to stick long after the pandemic is over.

                        According to a McKinsey survey, consumers intend to continue with many digital behaviors even after COVID-19 subsides, including online purchasing (35 percent increase in online spend penetration) and use of digital health-and-wellness tools (70 to 80 percent intend to continue post-COVID-19).

                        While the surgery sector is a pioneer of cutting-edge clinical technology, its payment and revenue cycle systems are often lagging, which directly influences overall ASC revenue.

                        Digital technologies exist to solve the problem of chasing patient payments and outstanding accounts receivables by making it easier for patients to pay, extending payment options, and automating the payment workflow.

                        Here are 3 must-have tools for offices to maximize their ASC revenue:

                        1. Digital Payment Options & Contactless Payment Technologies Like Text-to-Pay 

                        3 Digital Tools to Maximize ASC Revenue - Text-to-Pay

                        Patients want a retail-like payment experience, and the pandemic has only accelerated the preference for convenient contactless methods.

                        The reality is that many ASC back offices are still years behind offering the latest payment options. The traditional methods of mailing bills or checks and reading credit card numbers over the phone are inefficient.

                        At the same time, ASCs are less likely to receive timely payments and their staff is going to spend a significant portion of their time chasing them.

                        Opening up more convenient payment methods has a big impact on surgical facilities. With digital payment options like online and mobile bill pay, patients can manage their own finances and it makes it as easy as possible for them.

                        For example, with Text-to-Pay technology, ASCs can text patients their balance and allow them to make payments and view payment options, payment plans, and financing options.

                        When patients receive payment options quickly, not only do they save time, but their frustration is reduced, resulting in a patient experience that is more satisfying. Giving patients convenient payment tools that they prefer and expect greatly increases the chances of receiving a timely payment.

                        2. Payment Plan Technology to Stabilize Cashflow

                        Payment plan technology gives surgery centers a practical solution for working with patient payments especially those who are unable to or prefer not to pay their balance in full.

                        A 2021 Healthcare Payment Experience Report by PYMNTS revealed the following:

                        • 2 out of 3 patients (63 percent) said they want access to payment plans
                        • 54 percent of patients want to manage their payments digitally
                        • 33 percent of patients said establishing payment plans would entice them to switch medical providers

                        Payment plans allow patients to afford care by making payment manageable. It also incentivizes patients to start treatment or procedures that they might otherwise be hesitant to begin with due to costs.

                        When patients can create individualized payment plans, their satisfaction and loyalty increases.

                        As you adapt to each patient’s specific needs, your ASC receives consistent incoming payments instead of waiting on a large payment that might not come. For any healthcare facility, cash flow is important for growth and in bouncing back from the pandemic revenue struggle.

                        3. Automation Technology for the Payment Workflow

                        Automation is becoming the new standard in revenue cycle management.

                        With more self-pay patient payments coming in, it is crucial to invest in technologies that will interface with your patient accounting software and merchant services and automatically post payments to the patient account or ledger.

                        Leveraging automation technology significantly reduces administrative burden and errors in manual payment posting. It also frees up time for staff to focus on more revenue-generating activities.

                        Having an automatic way to sync payments between systems and third-party vendors removes the possibility of error and reduces delayed payments over bill confusion. This ultimately results in higher patient satisfaction because of up-to-date information.

                        Here are four essential areas that needs vendor automation especially for self-pay accounts:

                        • Daily accounts submission
                        • Daily payment and adjustment account reconciliation
                        • Vendor collections automatically directed to existing merchant services
                        • Automatic invoices that are gross remit and automatically paid

                        By implementing these digital tools, you can maximize your revenue and improve your patient collections.

                        About Mnet Health

                        We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare. Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                        Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.


                        Text-to-Pay

                        How Mnet's Solution, Text-to-Pay, Will Save You Money and Get You Paid Quicker

                        With many healthcare facilities, we see that those best positioned for growth are focused on programs and investments that both provide more value to their patients and advance their healthcare mission.

                        These providers look for solutions that help them deliver the right care in the best way, improve the effectiveness and performance of their operations, and provide the best patient experience.

                        What patients really want is a more helpful, transparent experience — one that is quick, easy, and simple.

                        Our case studies demonstrate this and show how we have increased patient collections using simple yet powerful technology.

                        For example, Baylor Surgical Hospital at Las Colinas reduced bad debt expense by $1.1M and improved average monthly self-pay collections by 121% (i.e., from $70k to over $155k monthly) after implementing Mnet’s Text-to-Pay Solutions.

                        In addition, in the first 60 days of offering Text-to-Pay, 63% of patients who agreed to manage their bill by text, paid in full, while 27% of patients used Text-to-Pay to set up a payment plan.

                        Some facilities may think that, in order to be better, they have to add and change a bunch of things like getting the latest and most-expensive technologies with all the bells and whistles.

                        But in reality, the solution may be much simpler than assumed.

                        Text Became the Preferred Communication Channel During the Pandemic

                        Pre-COVID, text messaging was steadily gaining traction as an effective communication channel for engaging patients.

                        But since COVID-19 hit, texting capabilities have quickly shifted from being “nice-to-have” to “must-have.”

                        According to a McKinsey survey, following the COVID-19 outbreak, 30% of Americans report that they are more likely to spend time texting, chatting, and messaging.

                        A study by one technology firm also found that between March to June 2020, there was a 450% surge in consumers texting Main Street businesses and a 393% increase in contactless, text-to-order (text-to-pay) revenue.

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                        The spread of COVID-19 in the US created an immediate need for rapid communication between healthcare providers and large groups of patients. Texting fills that need as text messages are quickly and easily sent.

                        Some providers have employed special sanitation technologies and some even disinfection robots which are commendable efforts.

                        Interestingly, many providers have also realized the power of low-cost text messaging and the way it can be used to limit person-to-person interaction, prevent queuing, notify patients of new protocols, launch patient engagement campaigns, and can even be used for contactless payments.

                        In a time of crisis, consumers want to simplify their communication channels and use what they know best, which is texting.

                        Text-to-Pay: Quick. Easy. Simple.

                        Providing patients with more options, specifically more ways to pay, adds to the patient experience in a better way and adds to the value they are receiving.

                        Text-to-Pay is simple, it’s speedy, and it’s what patients actually prefer. Mobile payments increase the speed to payment and the convenience factor that so many patients today expect.

                        In fact, a 2017 report found that 80% of patients prefer to pay their provider from their mobile phones.  Patients love Text-to-Pay because it is a contactless payment solution for managing their medical bills. It’s easy to use and yields fast results.

                        It has a 98% open rate and it’s a great way to connect to patients on a channel they’re likely to prefer. Response rates for texts are almost 40% higher than response rates for emails.

                        When patients receive payment options quickly, not only do they save time, but their frustration is reduced, resulting in a patient experience that is more satisfying.

                        Therefore, the best healthcare providers offer conveniences like online appointment scheduling, mobile bill payment, live chat, and other personalized and customized touch points along the patient journey.

                        Happier patients mean increased referrals, more word of mouth, patient loyalty, and respect in the community.  Learn more about Mnet’s Text-to-Pay solution and increase your top-of-line revenue: https://mnethealth.com/text-to-pay/

                        About Mnet Health

                        We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare. Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

                        Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.