Case Study: Six Healthcare Challenges; One Data-Driven Solution
Understanding the financial situation of patients at the point of service provides critical insights into how those patients are best served. Income360™ (I360) is the first and only income estimate that provides a continuous measure of a patient’s total income: income from wages and income from invested financial assets. There are two significant applications of I360 at point of service: helping to identify potential charitable care and Medicaid-eligible cases.
Healthcare organizations have the unique mission to provide services regardless of an individual’s ability to pay. Hospitals benefit from flagging charitable cases early-on in order to develop operational plans and earnings forecasts accordingly.
Providers also strive to achieve early identification of Medicaid-eligible individuals. Medicaid requires the involvement of a case manager, typically a time-intensive process. The earlier the procedure is initiated, the better the outcome for both the patient and provider. Furthermore, as one of the least understood government programs, many qualified patients are unaware of their Medicaid eligibility.