Fifth Third knows healthcare and is a leader in innovative healthcare technology solutions. We can help solve your revenue cycle and payment challenges—saving you time, reducing risk and improving the patient experience.
How our Healthcare Solutions help clients:
- Engage patients and improve their experience.
- Deliver omni-channel payment solutions.
- Automate bank neutral payer and patient remittance and receivables.
- Provide bank neutral enterprise cash management through auto-posting of patient and non-patient receivables.
- Digitize refunds, provide patient choice and offload escheatment responsibilities.
- Convert suppliers to electronic payments and reduce payables costs.
- Optimize working capital with minimal resources.
Expanding beyond traditional banking to provide healthcare clients measurable value.
Our suite of revenue cycle services and managed service tools can be tailored to help you meet unique provider and payer goals.
Pre-Arrival and Point-of-Care
- Streamline pre-arrival and check-in, patient estimation and payment.
- Increase patient revenue and reduce days in AR Outstanding.
- Improve patient satisfaction using personalized, digitized engagement.
- Collect payments the way your patients want to pay.
Post-Care Payer Payments
- Increase efficiencies with a payer-focused lockbox.
- Reduce days in AR outstanding.
- Reduce manual processes using EOB and correspondence automation.
- Reallocate your time to focus on collecting the funds you haven’t received.
Post-Care Patient Payments
- Increase collections with advanced electronic billing features.
- Offer more choice with seamless omnichannel billing and payment capabilities.
- Customizable patient communications.
- Automate reconciliation and posting.
- Maximize efficiencies through bank neutral lockboxes.
Patient Refunds
- Digitize refunds while giving patients payment choice.
- Offload escheatment responsibilities.
- Reduce fraud and security concerns.
- Save time and resources with patient refund support.
- Mitigate refunds with pre-arrival and point-of-care tools for more accurate estimations.
Accounts Payable Automation
- Reduce payables costs.
- Optimize working capital with minimal client resources.
- Enable intelligent payment routing.
- Increase spend through proprietary networks.
Payer Services
- Deliver timely, accurate and cost-effective payments to providers and vendors.
- Ensure safety and security of patient and payment data.
25% ($1 trillion) of healthcare cost is administrative expense and growing.1 Fifth Third can help you optimize your revenue cycle management more efficiently.
Experience and Expertise
With years of experience working with healthcare organizations, we have the industry knowledge, tools and insights to give you a strategic advantage. We understand the unique challenges you are facing and have a proven track record bringing thoughtful and meaningful solutions to drive revenue and efficiencies for our clients across multiple healthcare subsectors, including:
- Healthcare providers
- Healthcare payers
- Dental
- Revenue cycle and billing companies
- Consulting firms
Our Consultative Approach
Are you currently dealing with several different vendors? Fifth Third can provide you with comprehensive services. One of our dedicated healthcare experts will take the time to get to know your specific challenges and processes. Then, they will provide tailored solutions to solve those needs—helping you run more efficiently and improve your bottom line.
Partner with Us
Learn how we can provide automated solutions tailored to help drive efficiency and savings throughout your organization.
Reach out to your Treasury Management Officer or complete the form to get started today!
Thank you
Thank you for letting us know your interest in partnering with us. A representative will be in touch with you shortly.
