New Haven-based Inbox Health announced Wednesday that its billing technology has been awarded a patent by the U.S. Patent and Trademark Office.
The patent is for the company’s approach to patient billing. Its platform provides customized messaging based on a patient’s preferred method of communication, such as email, text or paper.
Messages provide a clear understanding of what portion of the bill was covered by insurance and how much the patient still owes, according to the company.
This method eases the payment process for both patients and health care practices.
According to Inbox Health, 93% of patients report a positive experience, and billing teams have noted a 60% collection speed increase within the first 60 days.
Blake Walker, chief executive officer of Inbox Health, said Americans are increasingly adopting high-deductible healthcare plans, and as a result, patient financial responsibility for healthcare costs continues to rise.
“Managing patient collections has become critical to a medical practice’s financial viability as patient payments account for a larger portion of revenue,” Walker said. “Inbox Health provides essential solutions to this challenge, and we are tremendously proud of our team and the technology that we have brought to market.”
Contact Matt Verrilli at mverrilli@newhavenbiz.com.
