Higher Collection Rates
PatientPay’s patient payment collection success rate is 3.5 times better than the industry standard for medical groups and hospitals alike. And once you collect, PatientPay automatically posts payments to the proper balances in your system, just like your insurance payments. It eliminates the time-consuming, error-prone manual steps so your process is easier and speedier for your staff and more satisfying for your patients.
PatientPay can get you paid faster, on average in less than 14 days. A key reason is our statements align the actual charges with a patient’s Explanation of Benefits (EOB). That clarity eliminates confusion about what is owed. What’s more, it provides a better patient experience because statements are delivered the preferred way, electronically. More important, 75% of PatientPay statements are paid once they’re opened.
PatientPay cuts the expense and time to prepare statements in half. It eliminates paper, postage and most of the associated labor, compared to traditional paper statements that are costly to prepare, slow to deliver and leads to frustration for patients. PatientPay saves you up to $4.00 per statement. And since PatientPay gets you paid faster, it improves cash flow while helping better manage your account receivables.