Mount Sinai Doctors is the physician practice at Mount Sinai Health System in New York City with more than 7,000 general practice and specialty physicians delivering compassionate care across 400 ambulatory locations throughout the five boroughs.
"It’s an increasingly challenging part of the receivables puzzle,” says Richard Nagengast, VP of Revenue Cycle. "Especially in the New York City area, with a patient population that is hard to reach via physical mail addresses or even emails, combined with an enormously regulated market."
The Patient Payment Solution
With CueSquared's MobilePay, Mount Sinai Doctors quickly gave patients a text messaging-based approach to delivering both patient statements and the ability to pay those bills directly with no additional app to download or portal to log into.
Rather than replace existing payment channels or revenue cycle infrastructure already invested in, MobilePay easily integrated into their technology stack and immediately improved the revenue cycle team's self-pay collection strategy.
Ed Peterson, director of billing operations at Mount Sinai Doctors, says the implementation of CueSquared “still holds a record for fastest and easiest rollout in my 31 years of working in health IT.”
Nearly two years since launching CueSquared’s MobilePay solution at Mount Sinai Doctors, it's since been deployed across the health system to the Department of Radiology, the Department of Pathology, and the Department of Emergency Medicine.
Mount Sinai Doctors days in accounts receivable number had hardly budged in over a decade. After going live with MobilePay DAR has decreased by about nine percent.
Patient self-pay collections has increased by 23% -- even despite the pandemic in 2020 which ravaged New York City in the spring. Plus, both inbound patient call center volume has decreased and paper statement volume has gone down by about 28% overall.
"Every single payment made through MobilePay would likely have been a call to our call center or a physical check to a lockbox we’d have to manually post to someone’s account,” says Peterson.
The Future of Revenue Cycle and MobilePay
Nagengast and his team are now thinking about the next evolution of MobilePay at Mount Sinai Doctors and how it can help them keep more unpaid bills from going to collections. Patients, it turns out, will even pay outstanding balances that are 120 days old via MobilePay. Those balances typically get written off and go to collections but the data suggests that Mount Sinai Doctors might be able to continue to even collect those balances.
"We're going to increase our leverage with how we use MobilePay," says Nagengast.