Financial Navigation
Happy Patients. Healthier Businesses.
We address the revenue cycle challenges before they become a challenge, right from the scheduling
Right from helping patients understand the acceptance of their insurance payor & plan, to checking their eligibility, estimating the potential cost of care, and motivating the patients to pre-pay or paying timely, we ensure revenue cycle wouldn't get into a challenge at all.
Patient Financial Experience
The traditional process of commencing financial clearance after an appointment is scheduled and health system resources have to be committed to rescheduling appointments, managing care delays, unexpected patient costs, payment denials, and wasted resources..
Through the Praktice AI digital front door, health systems can offer consumers and patients – and providers who refer their patients for care – a structured, guided process for choosing the services that best meet their needs, clinically and financially
45%
Increase in prepayment of bills through transparent & personalized estimate
94
Improvement in Net Promoter Score through removing the surprise in bills
24%
Reduction in Bad debts & uncompensated care in the High Deductible health plans
Features of Financial Navigator
Clinical Need navigation and Referral Management
Medical AI triage, Clinical setting navigation, management of referral processes and operational intelligence all built in to navigate the patients as per their medical needs and referring provider
Personalized for your organization's data
Insurance check and Eligibility Verification
Instant real-time insurance eligibility verification for over 90% of the insurance payors and plan combinations, personalized to the patient. Care Interface price transparency allows you to position the pricing in a way that convinces the patients to choose the services (available for the top common procedures at your health system)
Self-serve Payment
The most Intuitive payment platform for patients to get an overview of their medical bill for common procedures and estimating the copayment amounts, pay partially with easy payment plans and reminders, in turn, reducing claim denials as well as unpaid bills...
Bill Prepayment
An advanced AI algorithm to estimate the accurate bill amount for most common procedures and motivating patients for a part or full pre-payment of medical bills to reduce uncompensated care and bad debts
What makes Praktice Financial Navigator a Key element for
The Digital Frontdoor Strategy?
Conversational AI
All our offerings are powered by a unique conversational AI framework that make it intuitive & natural for patients to engage with
Care Triaging
Our price transparency solution is tightly knit with our medical triaging algorithm that understands the care need accurately
Comprehensive
Our platform has a comprehensive understanding of payors & plans with a detailed view of the plan benefits
Price Transparency
Our AI understands the medical procedures that are part of HCPCS & CPT® and an ability to identify the cost estimate accurately
Secure and trusted
Praktice’s platform meets the highest certification standards for data security, privacy, and integrity, keeping your data safe.
CERTIFIED
We’re SOC-2 certified, HIPAA-certified, and independently audited on a routine basis.
COMPLIANT
Our platform is compliant with HIPAA, STU-3 & IHE profiles, and we’re a trusted partner to most major EMRs.