Luke's and allowing the system to test what worked and what didn't. The model for how iVinci built out the VisitPay system was collaborative, working with St. "The poorer the experience, the more expensive it is for the organization - on the order of three to four times more expensive - just the cost of servicing the account," Rawdan said. Luke's learned it could save a lot on collections by installing a system for paying bills that was easier on the consumer. Luke's, like pretty much every other health system, didn't know much about the link between ease of payment and its own bottom line. So iVinci built an online payment portal called VisitPay.īefore teaming up with iVinci, St. "IVinci said they thought they could create one." Luke's senior director of revenue cycle, Michael Rawdan. "We didn't have a digital platform," said St. It also showed they were more likely to pay if they could easily set up an installment payment plan. IVinci's business intelligence showed patients wanted to go online and see their statement and pay their bill like they did with other accounts. Luke's quickly learned from the startup's analytics led iVinci to a whole new business and a new way of billing for the health system. "We started by building a business tool to help hospitals understand payment dynamics," Ivanoff said. It was an analytics system based, in part, on what Ivanoff learned earlier in his career at credit card company Capital One Financial Corp.
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