Online Negotiator of Healthcare Reimbursement
In the U.S. alone, up to 64% of patients avoid proper medical care, citing tremendous, out-of-pocket costs and unmanageable deductibles as the main reasons to reject healthcare services. Meanwhile, 1/3 of the healthcare providers suffer millions of losses from unresolved patient liability that continues to accelerate, leaving a gap of 68% of the unpaid balances.
The industry urges for smart and easy health plan management software, which leverages the latest technology innovations to improve medication adherence and give caregivers peace of mind.
- The U.S. market, global healthcare sector
- Web application
Armada Labs developed Health.Finance, a mobile-first payment plan origination platform that enables online negotiation of healthcare reimbursement right from a hospital bed.
Thanks to a flexible user interface, personalized payment plans, and painless debt collection, Health.Finance helps customers modernize their offerings while retaining patient loyalty and engagement.
Health.Finance customers do not waste business hours dealing with insurance officers, loan managers, debt collection agencies, and other intermediaries — instead, the fully-automated system of healthcare funding lets them lessen some efforts of the employees involved in call centers and paperwork.
After signing up for the Health.Finance platform, a patient can file customizable templates for a personalized payment plan.
Data protection and privacy
Health. Finance operates on the AWS Cloud infrastructure, compliant with SOC 2, Availability & Confidentiality Report, and ISO 27018 Personal Data Protection, so you can rest assured — personal data is safe with us.
- Smart underwriting
The combination of Machine Learning and alternative data sources embedded into underwriting models of Health.Finance enables intelligent credit scoring of borrowers.
- Millennial-friendly technology
Heath Finance delivers full-fledged benefits of omnichannel communication and pay-as-you-go services to the healthcare industry, addressing the growing millennial segment of the market that actively considers digital means to support their needs.
- AI-driven predictive capabilities
Health.Finance will ultimately guide you to the less risky applicants, facilitating decision-making with enhanced analytics. However, the final decision whom to fund is always yours.
- 300+ million consumer database
Once a loan application is sent, a patient's financial background is verified and automatedly rated based on credit data of more than 300 million consumers acquired from repositories.
89% of patients were able to pay at POS
$76.000 past-due accounts collected
65% recovery rate of collection bills
High HCAHPS patient satisfaction scores equate to 9-10% margins (2x avg.)
Seamless integration with GE Healthcare
Amazon Lex/Alexa voice assistants