Orthopedic Physicians Group (OPG) operates across seven locations with 28 physicians dedicated to providing top-tier care. However, managing patient balances had become a growing challenge. Before partnering with the Raxia YourHealthBill (YHB) platform, OPG was heavily reliant on outdated methods of patient financial engagement. Each month, they mailed out 5,390 paper statements at a cost of $0.94 per statement and made manual collection calls, with limited success. While they offered a digital payment form on their website, its usage was inconsistent and lacked the automation needed for streamlined billing and collections.

The administrative burden was significant, and despite their best efforts, only 21% of patient balances were paid within 0-60 days. The result was delayed collections, mounting costs, and time-consuming follow-ups.

The Transformation with Raxia YHB

Recognizing the need for a change, OPG partnered with Raxia and adopted the YourHealthBill platform, which completely transformed their patient financial engagement process. With Raxia YHB, OPG transitioned from traditional paper statements to a modern digital platform. By leveraging AI, the platform now automatically determines the best method for sending patient bills—whether digital or paper—and follows up with personalized reminders.

Not only did this shift reduce their reliance on paper, but it also dramatically improved payment timelines. With Raxia YHB, 71% of patient balances are now paid within 0-60 days—up from the 21% they saw previously.

Key Metrics Post-Raxia YHB Implementation:

• Monthly Collections: Increased to an average of $324,749.87 per month, reflecting an overall 27% increase in collection rates.
  
  
• Paper Statement Reduction: Statements mailed dropped from 5,390 per month to just 2,019, resulting in a 62% decrease in statement costs.
  
  
• Improved Efficiency: The personalized, AI-driven billing reminders helped streamline the payment process, significantly reducing the need for manual intervention.
  
  
• Cost Savings: With fewer paper statements and manual efforts, OPG saw immediate savings, allowing them to reallocate resources toward patient care rather than administrative overhead.

By modernizing their patient financial engagement, OPG has not only improved their collection efficiency but also enhanced the overall patient experience. Patients appreciate the convenience of digital reminders and flexible payment options, while the practice benefits from faster payments and reduced administrative burden.