Have you ever had a complicated medical event, and afterwards thought, “Gosh, it’s just so convenient and straightforward to pay all my medical bills?” No? Then you’re in good company — last year, 70% of surveyed patients said they were confused by medical bills.
One of the most confusing parts of the billing process for patients is receiving multiple separate bills, at different times, for a single visit — for example, a single inpatient stay can generate bills from the facility, the surgeon, the anesthesiologist, the lab, the radiologist, etc. — and it’s almost impossible to address this as long as every provider bills separately, on a different platform.
Here at OODA Health, we’re thrilled to announce the launch of our OODAPay product, which we strongly believe will solve this problem. We are working with payers and providers to enable payers to provide their members a single, unified bill across all the providers that members and their families have visited, much like the way a credit card statement aggregates transactions across multiple merchants. Patients need only make one payment toward their total balance, rather than separate payments to each provider, and we enable them to choose their preferred payment method — credit, debit, ACH, HSA, FSA, ApplePay, etc — and preferred payment channel — web, mobile, SMS, phone, or mail. Because healthcare expenses can often be unexpected and not budgeted, we offer flexible payment options, including 0% interest payment plans for all patients. And we provide one-stop concierge service that leverages our technical integrations with both payers and providers to resolve most billing questions with a single call.
With all the challenges in healthcare administration, why did we start with patient billing? Our decision was both quantitative and qualitative. We founded OODA Health in 2017 to tackle the administrative waste in healthcare that causes delay, friction, and expense for payers, providers, and patients. When we analyzed the cost and time involved in each step of today’s administration process, patient billing emerged as one of the lengthiest and most expensive steps.
And it’s a major abrasion point for both providers and patients. Most providers we spoke with told us that chasing patients for payments was a truly miserable part of their job. They much preferred to focus on delivery of care, which is what they do best. The patients we interviewed almost universally told us that healthcare billing was a confusing and frustrating experience. This research convinced us that this was a great opportunity to reduce healthcare admin waste while also dramatically improving a poor experience.
To build the product, we did a lot of homework. We surveyed and interviewed hundreds of consumers to understand how they approach medical bills and where the biggest pain points are. As we started designing early versions of the product, we solicited a lot of feedback on our mockups, which helped us iterate and improve. And we did significant diligence behind the scenes with payers and providers to ensure that our technical integrations would be as smooth as possible. We partnered with Blue Shield of California, Blue Cross Blue Shield of Arizona, and Dignity Health, as well as other payers and providers for our initial pilots.
So far, we’ve been really excited by the results. Patients who have used OODAPay to pay medical bills have given us a 96% satisfaction rating (we didn’t think people could ever be that happy with paying a bill!), and our collection rates are already exceeding our targets. Next up: continuing to expand our platform to additional payers and providers. We’re working to make OODAPay the new standard for medical bills! Learn more about OODAPay today and contact us if you’re interested in a demo.
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