PokitDok's Payment Risk solution enables lending institutions, payment solutions, health systems, and medical practitioners to calculate the financial risk of healthcare transactions and to make new financing options available to patients for non-acute medical services. Our Payment Risk algorithm combines public, customer and proprietary data to estimate the likelihood that a patient will pay their bill and calculate the probability that a provider will be reimbursed by a payer for a specific amount.
Only PokitDok blends our customers' data and proprietary data with national healthcare-specific payment and loan data, demographic data, health markers, and consumer financial attributes to calculate the financial risk associated with a specific patient. The depth and breadth of these data sources lead to risk projections with higher confidence levels.
PokitDok combines CPT code, provider procedure experience, average reimbursement rate, clearinghouse data and other measures to calculate the likelihood that a provider will be reimbursed a given amount by a payer.
Our algorithm is designed to calculate the financial risk of healthcare transactions in real-time. Which means that you can now understand the likelihood of being reimbursed when it matters most, before a healthcare encounter begins.
We are secure, scalable, compliant, and are built to support your growth. DokChain, our healthcare blockchain technology, will accommodate even more variation and volume of data sources going forward, which will enable even more precise financial risk calculations
Our Payment Risk solution combines medical clearinghouse transactions, healthcare loan performance data, provider payments and benefits recovery data, and geographic, health and financial data to create a health credit outcome score. This score can be used to determine the amount of financial risk in certain parts of a healthcare encounter.
This really is a win-win-win for consumers, providers, and national healthcare systems at large. Real-time access to demographic data, benefit plans, coverage, how much of one's deductible is satisfied, claims outstanding, and availability of employer-supported savings accounts, to mention a few, gives both providers and consumers a new option for healthcare lending, one that could be financially life-changing.
Jim Bonnette, MD, Executive Vice President, Head of Strategy Consulting The Advisory Board Company
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