Business
Total Economic Impact Study Reveals Flywire’s Healthcare Clients Can Achieve 269% ROI
According to ROI study, Flywire can accelerate revenue and improve patient satisfaction for hospitals and health systems in the U.S. BOSTON, June 09, 2022
About this update from Flywire Corporation - Voting
[{"type":"text","content":"According to ROI study, Flywire can accelerate revenue and improve patient satisfaction for hospitals and health systems in the U.S.\nBOSTON, June 09, 2022 (GLOBE NEWSWIRE) -- Flywire Corporation (Nasdaq: FLYW) (Flywire), a global payments enablement and software company, today revealed the return on investment (ROI) of Flywire for hospitals and health systems would be 269% over three years, according to a new Forrester Total Economic Impact™ (TEI) study that Flywire commissioned from Forrester Consulting. \"Some of the leading hospitals and health systems in the U.S. are powered by Flywire's responsive billing and payments platform,” said John Talaga, EVP and GM of Healthcare, Flywire. “They use Flywire to predict a patient’s capacity to pay, engage patients via an omni-channel approach with personalized paths to payment, and to make it easier for patients to settle their balances on terms they can afford.\" Talaga continued: \"This independent study validates the strong ROI that we drive for our clients, and confirms that Flywire can deliver measurable results for hospitals and health systems. Our clients benefit from the ability to create digital and self-service financial experiences, to maximize collections, reduce administrative costs, and to provide financial peace for patients.\" Additional benefits that hospitals and health systems can achieve through Flywire as cited in the report include: Increase revenue collections by 29%: Using Flywire, organizations are able to better engage patients digitally throughout their entire healthcare payment experience, meaningfully increasing revenue.Reduce staff involvement in patient billing by 30%: Flywire enables staff to re-focus energy onto higher-value tasks by driving greater levels of self-service and support into the payment process, improving productivity and lowering costs.Reduce cost of paper statements by 20%: Flywire drives digital and mobile engagement with the self-pay- after-insurance patient population.Improve customer satisfaction: Patients reported a better experience engaging with healthcare systems after the implementation of Flywire.Standardize billing across networks: Investment in Flywire helps standardize the billing process so patients can easily understand the cost of care.Consolidate AR systems across networks: Having multiple account receivable (AR) syste...