The eXtended Care Program (XCP) by Enocre Exchange is now a qualified solution on Mayo Clinic Platform. The program's qualification highlights Encore Exchange's expertise in patient balance resolution and its commitment to enhancing the patient financial experience. XCP provides an alternative to traditional bad debt collections with enhanced financial assistance and no contingency fees.
WINSTON-SALEM, N.C., Jan. 8, 2025 /PRNewswire-PRWeb/ -- Encore Exchange is pleased to announce that its eXtended Care Program (XCP) is now available as a qualified solution on Mayo Clinic Platform, marking a significant advancement in the initial rollout of its revenue cycle solutions. The program's qualification highlights Encore Exchange's expertise in patient balance resolution and its commitment to enhancing the patient financial experience through the application of technology, data, and innovation.
In today's healthcare landscape, organizations face increasing challenges in managing patient billing. XCP offers a unique alternative to traditional bad debt strategies providing a more compassionate and effective approach that supports and enhances hospital financial assistance policies and aligns with the compassionate care ethos of healthcare providers.
Unlike conventional agencies that rely on high contingency fees, XCP operates on a weekly subscription that efficiently analyzes accounts receivable before referral to collections. The cost-effective approach not only alleviates financial pressure on patients but fosters a more positive relationship between healthcare providers and the communities they serve.
"Encore Exchange is excited to be at the forefront of transforming the patient financial experience and looks forward to collaborating with Mayo Clinic Platform to deploy XCP to healthcare providers nationwide. We're fortunate to be among the first revenue cycle solutions available on Mayo Clinic Platform and we are confident in the value we demonstrate for every organization we serve."
--John McGarty, Chief Product Officer, Encore Exchange
The XCP solution pairs Encore's unique approach to balance resolution with sophisticated data analytics that optimize the patient experience while delivering remarkable efficiency to the revenue cycle. Decades of experience and research in accounts receivable and bad debt practices, have equipped Encore Exchange to develop a consistent, precise, as well as fully compliant, program that is quickly becoming the new best practice among leading healthcare providers.
"Collaborating with Mayo Clinic Platform speeds up the pace of digital healthcare innovation by providing key development and deployment capabilities to digital health companies and relevant insights to healthcare providers. When a solution is qualified, healthcare providers know it has been evaluated on Mayo Clinic Platform using a proprietary process designed to promote transparency, explainability, and reliability of the solution's performance, all aimed at supporting care teams and improving patient outcomes," says Steve Bethke, vice president of solution developer market, Mayo Clinic Platform."
About Encore Exchange
Encore Exchange is based in Winston-Salem, NC, and is dedicated to improving the patient financial experience through innovative solutions that prioritize empathy and support. The company is dedicated to resolving patient balances effectively, supporting financial assistance, and fostering positive relationships between healthcare providers and patients. A 100% employee-owned and independent organization, Encore Exchange nurtures a unique culture of commitment and value-driven work among its co-owners. For more information about the Extended Care Program and its benefits, visit www.EncoreExchange.com.
Media Contact: John Barksdale | [email protected]
Mayo Clinic Platform does not endorse or otherwise warrant the functionality, quality, or performance of the eXtended Care Program (XCP) solution described in this article (the "Solution"). Participation in Mayo Clinic Platform's Solutions Studio Program does not constitute, include, or imply any product warranties from Mayo Clinic, including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, or noninfringement, all of which are expressly disclaimed by Mayo Clinic Platform. Any rights or remedies associated with the Solution shall be provided by Encore Exchange, and not by Mayo Clinic.
Media Contact
John Barksdale, Encore Exchange, 1 3367611524, [email protected], EncoreExchange.com
SOURCE Encore Exchange
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