WILTON, Conn.--()--TransEngen, a leading provider of patient payment solutions for healthcare, announced it has entered a partnership with the Detroit Medical Center Physician Hospital Organization (DMC PHO) to provide its Revenue Maximizer suite of solutions to more than 1,200 physicians who are affiliated with the DMC PHO.
“The DMC PHO is committed to providing our doctors with special rates on the best technology to efficiently run their practice and serve their patients”
Under the agreement, TransEngen will offer all DMC PHO physician members preferred terms with its Revenue Maximizer suite of patient payment solutions. TransEngen, which deploys its Revenue Maximizer solution to more than 35,000 providers* nationwide, offers a HIPAA compliant, PCI certified payment tool that instantly estimates what a patient owes at check in, accepts all forms of payment and even integrates with leading practice management systems allowing for efficient and safe auto posting of patient payments.
“The DMC PHO is committed to providing our doctors with special rates on the best technology to efficiently run their practice and serve their patients,” said DMC PHO Executive Director Steven D. Grant, M.D. “With TransEngen’s proven solution, patients know what they owe at the time of service and doctors are able to reduce expenses associated with billing and collections and focus those resources back to providing better patient care.”
As high-deductible health plans have grown so too has the amount of money most providers receive from patients. According to the Medical Group Management Association (MGMA), the typical medical practice now collects about 25% of their overall revenues from patients. As that number has increased it has become more important for providers to collect payment from patients during the visit instead of billing the patient post insurance adjudication, which oftentimes leads to high levels of debt and write offs.
About TransEngen, Inc and the DMC PHO.
TransEngen® is the nation’s leading provider of healthcare technology solutions designed to help physicians collect money from patients. TransEngen delivers an intelligent transaction-based engine that simplifies the patient payment process allowing healthcare providers to efficiently assess patient financial responsibility at the point of care. For further information, visit www.TransEngen.com.
The DMC PHO is southeast Michigan’s only PHO which combines the talents and strengths of a medical school, an academic medical practice, private practicing physicians, and the state’s largest healthcare system. The DMC PHO mission is to encourage the delivery of the highest quality healthcare to patients while providing value driven services to our members. The DMC PHO is also committed to maintaining excellence, respect, and integrity in all aspects of our operations and in our professional and business conduct.
*TransEngen data as of 09-2012