MainStreet Family Care’s mission is to bring affordable, high-quality care and make it accessible to underserved pockets of their mostly 22 rural locations in Alabama and Georgia. While MainStreet functions as an urgent care company, for many of its patients they serve more like a primary care provider. Many of their patients are repeat patients.
Paper Statements Holding Them Back
MainStreet primarily relied on paper statements as its main payment collection channel. As a result, the overall cost to collect from patients was costing them approximately $6 per statement when factoring in printing paper, stamps, the need for a lockbox, the manual labor to post physical checks, dealing with returned mail, and more.
Because paper was costly and inefficient, MainStreet felt they needed to improve their cash flow and days in AR in order to achieve their lofty growth goals of opening another 75 locations across multiple states in the coming years.
"The quicker that we’re able to get that capital in, the quicker and easier it makes it for us to open a new clinic,” says Drew Smith, director of revenue cycle. “If you’re not collecting payment up front it becomes more difficult to collect and then the longer it takes it just gets increasingly harder.”
The Mobile-First Self-Pay Approach
In 2019, MainStreet turned to CueSquared's MobilePay to augment its patient collection efforts. While they looked at other vendors, one of the things they loved most about MobilePay was it integrated into all their existing revenue cycle investments. Patients could now more easily pay their bills via text-messaging on a mobile device and MainStreet wasn't sold any unnecessary features or forced to replace any of their existing technology investments.
"MobilePay just made sense in order to lower our cost to collect," says Smith.
As a result of MobilePay, MainStreet delays sending a paper statement for five full days after the statement file is generated. Almost 15% of all their patient statements are paid through MobilePay and more than 80% of that bucket is paid before a paper statement is even printed.
In fact, paper printed statements have been reduced by 11%.
With plans to open new locations in Florida and North Carolina, the revenue cycle team at MainStreet knows they have the right foundation to continue its strong growth trajectory.
"Not only is it speeding up our payment collections,” Smith says, “But it’s kind of difficult to quantify the entire impact that MobilePay has on our revenue cycle.”