PokitDok introduced its Health Credit Outcome (HCO) product, designed to aid qualification tools used by lending institutions, payment solutions, health systems and medical practitioners, as they make new financing options available to their customers for non-acute medical services.
PokitDok is based in San Mateo, CA and Charleston, SC and is backed by New Atlantic Ventures, Rogers Venture Partners, and Subtraction Capital.
Designed by a team of data scientists with a deep academic background in mathematics and graph theory, the HCO is a probabilistic risk model that uses patient health data, claims and financial history.
With the patient’s consent, organizations can make informed lending options available to help finance expensive, non-acute procedures that often fall below the deductible threshold, like orthopedic surgery, imagery or cosmetic treatments. Providers then mitigate financial risk, improve cash flow and have more resources to support payment options for care.
As a last resort to collect unpaid bills, providers often have to engage in costly legal proceedings. With the shift to HDHPs, providers are addressing the necessary changes to revenue cycle management. Accurately identifying financial resources and establishing payment plans ahead of a medical encounter dramatically reduces risk. Through PokitDok’s HCO, patients electing to finance procedures can access unprecedented data resources to help assess the right lending package, pay for services and access care.
PokitDok is a cloud-based platform for seamless healthcare transactions, connecting consumers directly with practitioners in a transparent, e-commerce experience. PokitDok provides Enterprise access to market-driven provider, treatment, pricing and scheduling information through APIs, plus X12 claims, authorization, eligibility and referrals solutions.
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