Collect Twice as Many Patient Payments
The more options and transparency you offer a patient, the more likely you are to get paid. That’s why we offer multiple ways to engage patients on a financial level – from aligning statements with EOBs, to offering flexible payment options. Our online collection success rate is two times higher than the industry standard, and our average payment turnaround is 14 days.
Save up to 50 percent on Every Payment
You can cut the average cost of creating, delivering, processing and reconciling a payment by up to 50 percent with PatientPay. Bills that make sense to a patient dramatically reduce your call volume, mailing, processing and reconciliation costs.
Get Paid Faster
Our patient payment solutions enable specialty care providers to collect payments faster and in full. Medical groups that use PatientPay are seeing payments on average in 14 days compared to the industry average of 90 to 120 days. This keeps less of your revenue in accounts receivables and collections, and gets more into your bank account. PatientPay handles all credit, debit and HSA card processing fees.
No Email? No Problem.
Oftentimes you don’t have access to a patient’s email to provide an electronic statement. 90 percent of the phone numbers that healthcare is collecting today are mobile numbers, which means we can send your patients a text to their mobile phone. All they have to do is click on the link to open their mobile browser to securely pay their bill.
Easy to Understand Bills
PatientPay provides patient statements that are easy to read and understand, written in language that makes sense to a patient. PatientPay’s bills show line-by-line, what the patient is being charged and what has already been paid, like co-pays or estimated payments as well as aligning to the patient’s insurance carrier’s EOB.
Payment Flexibility for Patients
Your patients want to pay you on time but sometimes they can’t afford to pay the whole bill all at once. Rather than wait for payment, make it easy for them to start paying you by offering a payment plan. These regularly scheduled payments are made automatically through PatientPay so there’s no additional work for you...or your patients. It’s a simple way to make sure that your cash flow stays on track and your patients stay happy.
How You Get Paid
Your patient payments are made using the same process you currently use to collect insurance claims so there is no change to your workflow. PatientPay can be listed as the primary, secondary or tertiary payer so after the insurance payment has been adjudicated, the statement from PatientPay goes out right away. Because PatientPay uses the same workflow your team is using today, it is quick and easy to learn, and payments auto-post directly to your software, saving even more time and money as well as avoiding errors that occur from posting to the oldest balance.
Capture Payment at Time of Service
Sometimes the best way to get paid is to collect payment before a patient arrives for their care or before they leave . Using PatientPay AdvanceSM and PatientPay NowSM, patients pay you before they come in, when they check in, or as they finish their appointment. This is also an opportunity to set up a payment plan if there will be any issues with completely satisfying their financial obligation.