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Early out has been a trusted strategy for boosting cash flow and reducing bad debt by proactively engaging patients in the self-pay process before accounts become delinquent. Yet traditional healthcare early out options lack the innovation needed to meet dynamic patient needs and organizational efficiency goals. Millennia changes that, giving you a powerful solution for achieving both in one feature-rich platform.
Millennia is not an early out vendor but an extension of your in-house team that can fulfill the role more effectively and outperform outdated approaches.
Millennia’s Patient Payment Solution delivers better financial results than traditional early out collection strategies. Our solution combines technology, engagement intelligence and patient-focused services to increase patient revenue collection rates. Higher revenue collection rates lead to better cash flow, less bad debt, greater efficiency and exceptional patient financial experience.
Millennia consistently drives results across the healthcare landscape — delivering up to 100% revenue increases for hospitals with average collection rates of 40%, which is double the 20% industry benchmark.
Millennia is the better way to manage early out collections in healthcare for healthcare portfolio companies, physician practices, and hospital and health systems — and we have the success stories to prove it.
On average, we produce results like:
Your patients are the heart of what you do, so we made them our focus. Our exclusive approach allows you to offer the best possible payment experience by meeting your patients where they are.
The more engaged your patients are in their healthcare payment journeys, the more likely they are to make their payments and do so in a timely manner. Our Patient Payment Solutions increases the likelihood of fast, in-full payment to support an efficient revenue cycle. Millennia helps create and sustain engagement with intelligence that creates hassle-free experiences for your patients.
Our platform’s engagement intelligence solutions include machine learning that customizes how we engage patients based on a patient’s previous behaviors. It considers factors like communication preferences and the times of prior interactions to produce targeted experiences. For example, if patients prefer paying by text, we use text to communicate. These more targeted and personalized communications increase the likelihood and speediness of patients making payments since they can do so in their preferred ways.
Your patients are busy people, too. They may not always be able to answer an early out call during business hours when your team is most likely to call them.
With Millennia as your partner, the inconvenience of missed calls goes away — for both your team and your patients. Our digital patient payment ecosystem offers patients a seamless experience with:
Plus, our patient payment portal integrates with the patient portal you offer. If you don’t currently have one, you don’t need to — our platform is an independent solution for payments that still integrates with your existing tools.
Some patients may need a little more support with their payment journeys than others. Millennia ensures you can meet those needs with our “concierge support services”. Our payment specialists can handle inquiries on behalf of your organization as a white-label partner who uses your branding in every communication.
We offer live support through whatever channel your patients prefer — phone, chat or email. Our team brings the human touch to support interactions, reducing calls to your staff and freeing their time to focus on other revenue cycle tasks.
Millennia consistently drives results across the healthcare landscape.
OrthoVirginia came to Millennia with a substantial revenue-collection challenge — almost $20 million in uncollected debt. Learn more about how our solution helped the organization boost patient self-pay rates by 12% and lower bad debt exposure by 19%.
Read the OrthoVirginia Success Story
Vermont’s Northwestern Medical Center (NMC) handles over 255,000 transactions annually. Millennia helped them transform their existing collection practices and strategies for measurable results. The hospital’s collection rate is now double the industry benchmark for similar organizations, and they capture over 50% of that revenue in the first 30 days.
Read the NMC Success Story
St. Clair Hospital in Pennsylvania serves over 300,000 patients annually, many of whom have billing questions and need support. The hospital partnered with Millennia based on recommendations from its affiliated physician clinics, dropping support wait times to nearly zero and growing patient satisfaction to over 98%.
Read the St. Clair Hospital Success Story
Millennia continues perfecting the patient payment experience by drawing on over a decade of expertise and analysis of more than one billion transactions. Our tools boost your revenue, reduce operating expenses and alleviate administrative burdens — all while creating stress-free journeys for your patients.
We’re happy to show you how we can transform patient payment for bottom-line results. Request a consultation today for a personalized assessment of what we can help you achieve.
