For Hospitals & Health Systems, Reducing Bad Debt is an Uphill Battle
PatientPay gives hospitals several weapons in the fight against bad debt. Communicate more effectively. Collect earlier. Collect more.
Patient Billing and Payment Options are Key
Patients pay because they are comfortable. They become comfortable when the bill is communicated in a way they want, the details are clear, and they’re given a payment method they prefer.
An omni-channel approach to both billing and payment technology works.
When it comes to payment options, the ability to schedule payments and payment plans are a significant player in capturing more patient payments and increasing patient satisfaction with their financial experience.
For some of our partners, 20% of payments captured are from single future payments and payment plans.
How do your Numbers Compare?
Avg patient balance collection rate VS PatientPay collection rate
Avg patient balance days to pay VS PatientPay days to pay
First 10 days Revenue Impact (Traditional vs PatientPay)
Easily Integrated with
your HIS/EMR
The path to reducing bad debt includes the right options and tactics. But it begins with aligning your billing system with the right solution. We’ve integrated dozens of systems. Your patient statement and account update data will easily flow into PatientPay, allowing us to communicate with your patients accurately and effectively. Once payments are executed, we deliver reconciliation information how your solution expects it, to allow for efficient posting and accurate patient account balances.
Payments Before, During and After Service
We work with your:
Scheduling System
for Pre-Service payment capture
Estimator
for accurate payments at time-of-service
HIS/EMR
for all billing and payment options post-service
HIPAA, TCPA, CFPB and PCI Compliant Healthcare Revenue Cycle Management
Believe it or not, simply being slow, frustrating, and ineffective isn’t the worst thing that can happen with a bad solution — but exposing a patient’s sensitive information is.
An effective solution ensures not only HIPAA compliance with all patient communications, but understands and implements TCPA and CFPB regulations in electronic messaging, along with PCI principles for all card-based payments.
Eliminate risk and keep your patients secure with PatientPay.