Change Healthcare, in Collaboration with Luma Health, Launches Patient Engagement, a Suite of Technology Solutions to Unify the Patient Healthcare Journey

Rhea-AI Summary

Change Healthcare (NASDAQ: CHNG) launched a new Patient Engagement suite that merges its revenue cycle management solutions with Luma Health’s Patient Success Platform. This integrated approach enhances communication and accessibility for patients, potentially increasing appointment-based revenue by 47%. With patients seeking convenience, the suite aims to reduce administrative burdens and patient wait times, which can average 24 days. By improving patient autonomy and satisfaction, Change Healthcare aims to streamline the healthcare journey and improve financial outcomes for providers.

Positive

• Launch of Patient Engagement suite that integrates revenue cycle management and patient success solutions.
• Potential 47% increase in appointment-based revenue for providers using the solution.
• Addresses convenience demands from patients, potentially increasing patient loyalty.

Negative

• None.

Suite combines Luma Health’s Patient Success Platform™ solution with Change Healthcare’s revenue cycle management solutions to give patients and providers a cohesive experience that spans the entire healthcare journey

NASHVILLE, Tenn.--(BUSINESS WIRE)-- Today Change Healthcare (NASDAQ: CHNG) launched Patient Engagement, a suite of solutions that seamlessly connects touchpoints across the patient journey, increasing access and improving communication between patients and providers. Change Healthcare’s proven revenue cycle management capabilities and Luma Health’s industry-leading solutions enable providers to unify operational, clinical, and financial journeys, creating a more streamlined experience for patients.

Patients expect convenience and ease of communication when they seek care. In a recent survey on patient loyalty, 80% of patients said they would be willing to change providers for more convenience—even if they’re receiving quality care from their current provider. When a patient calls to schedule an appointment over the phone, one call can take an average of eight minutes to complete. The Patient Engagement solution gives patients autonomy to book an appointment and complete intake forms at their convenience, while also reducing administrative burden on providers. According to Luma’s internal data, providers who used the Patient Engagement solution experienced a 47% increase in appointment-based revenue and resulted in higher patient satisfaction.

Healthcare providers make investments to improve the digital experience for patients. However, they still struggle to solve all patient pain points due to fragmented deployment. Many solutions do not offer the integration points needed to successfully manage patient engagement from the moment patients need care to receiving care. Disparate management systems can lead to an average of 24 days of wait time for new patients and more than $150,385 in lost revenue per provider annually.

The Patient Engagement suite centers on the patient’s success, and the tools work to increase patient volumes and loyalty while reducing denials and other administrative burdens for providers. Change Healthcare’s revenue cycle management capabilities and reach in healthcare combined with Luma’s KLAS-recognized Patient Success Platform delivers a comprehensive set of patient engagement solutions that drive real outcomes.

“We’ve long envisioned a more proactive and flexible approach, where patients and providers are being set up for success—not just at times during the journey, but throughout. This suite represents a complete evolution of the patient and provider experience. One that places patients exactly where they should be—at the center of their healthcare journey,” said Mike Peresie, senior vice president and general manager of revenue cycle management and decision support at Change Healthcare.

Change Healthcare’s revenue cycle management solutions and patient engagement capabilities enable providers to engage patients across their entire care continuum. One of the key components of a patient’s journey is their financial clearance. By accelerating eligibility verification and streamlining authorization, the solution reduces administrative burden on providers and ensures improved patient satisfaction. Both companies’ integrated vision sets the patients up for success by merging their financial as well as operational, and clinical journeys.

“This one-of-a-kind solution exists because of our commitment to making healthcare better for both patients and providers. From initial outreach all the way to claim adjudication, the entire patient journey is now on one platform. Providers using the patient engagement suite of solutions will have unprecedented ability to deliver a seamless journey across the spectrum of care,” said Aditya Bansod, Luma’s co-founder and chief technology officer.

"We’re excited for this collaboration to work toward a solution that will make the patient journey more seamless in order to improve quality of care for patients and providers,” said Amy Beal, manager of patient services at Woman’s Hospital in Baton Rouge.

Change Healthcare’s implementation team will lead customers through the implementation process, including integration with the customer’s existing EHR. For more information about Change Healthcare’s Patient Engagement solutions, visit our webpage and learn more about our upcoming webinar series.

For more information on Change Healthcare, please visit our website; hear from our experts at Insights; connect with us on LinkedIn; follow us on Twitter; like us on Facebook; and subscribe to our podcast on Spotify, Apple Podcasts, or Google Podcasts.

About Change Healthcare

Change Healthcare (NASDAQ: CHNG) is a leading healthcare technology company focused on insights, innovation, and accelerating the transformation of the U.S. healthcare system through the power of the Change Healthcare Platform. We provide data and analytics-driven solutions to improve clinical, financial, administrative, and patient-engagement outcomes in the U.S. healthcare system.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220622005151/en/

Change Healthcare

Katherine Wojtecki

External Communications

630-624-9142

katherine.wojtecki@changehealthcare.com

Source: Change Healthcare Inc.

FAQ

What is the latest update from Change Healthcare regarding their Patient Engagement suite?

Change Healthcare launched a new Patient Engagement suite that integrates their revenue cycle management with Luma Health’s solutions, enhancing patient-provider communication.

How does Change Healthcare's new solution improve patient experience?

The new solution offers streamlined communication and appointment scheduling, reducing wait times and administrative burdens for providers.

What potential revenue increase can providers expect from using Change Healthcare's Patient Engagement suite?

Providers are expected to see a potential 47% increase in appointment-based revenue by using the Patient Engagement suite.

How does the Patient Engagement suite affect patient wait times?

The solution aims to reduce the average wait time of 24 days for new patients through improved scheduling and engagement.

What is the significance of the partnership between Change Healthcare and Luma Health?

The partnership combines Change Healthcare's revenue cycle expertise with Luma Health's patient success capabilities to create a unified patient experience.