Healthcare Payment Leader to Offer Patented Service as Part of Effort to Help Practices Capture Patient Payments at Lower Cost
Durham, NC and Temecula, CA (May 5, 2015) – PatientPay, a provider of innovative healthcare billing solutions, today announced its patented system has been selected by Raintree Systems, an Inc 5000 company, to enhance its leading integrated practice management/electronic health record solution by enabling its customers to more easily manage their continuing growth of patient balances, estimated to exceed $1 trillion annually in the United States by 2020.
"Simplifying ease of payment is critical given the current trend where more revenue is being collected from patients. Raintree Systems has always sought out partners that bring additional value and innovative solutions to our clients. For this reason, we have partnered with PatientPay because their elegant solution empowers our clients to deepen their relationships with their patients while enabling them to offer a flexible and secure method for patients to pay for services." said Terrence Sims, Raintree Systems' President & COO.
The Medical Group Management Association reports that the typical practice sends, on average, 3.3 paper statements before payment is secured. PatientPay eliminates the need to send paper statements by providing bills and the ability to pay those bills as a majority of Americans prefer, online. According to the United States Postal Service, 60 percent of people pay their bills online today and that number is growing rapidly. In addition, PatientPay's billing statements match a patient's explanation of benefits (EOB) line-by-line, giving patients the confidence to pay their bill, based on a confirmation by their insurance company.
Patients using PatientPay typically pay their bill seventy-two percent of the time once they review these easy to understand statements, helping to reduce the cost by up to $4.00 per statement and driving a substantial Return On Usage for practices. This user experience, cost savings and the back-end automation provides its practices additional value by integrating into a practice's front office and back office workflow.
"Raintree has developed an innovative platform that makes it seamless for office managers to run their practice efficiently," said Tom Furr, PatientPay's CEO. "Along with consumers' growing preference for paying bills online, there is substantial growth of high deductible health plans (HDHP), the plan of choice by seventy percent of America's large employers. We are pleased to be working with their team to make an excellent practice management solution even better and more importantly benefit their thousands of providers."
PatientPay is a patented, web-based service for physician groups and their patients to process and manage bills and balances. PatientPay gives practices cutting-edge technology helping them be successful and strengthen their relationships with their patients. The service is embedded in practice and hospital software, creating greater customer satisfaction and easy integration.
PatientPay is based in Durham, North Carolina. Their patient payment service can integrate with any practice or hospital software to offer a complete payment solution that automates billing, collections and posting of patient payments. For more information, please visit www.patientpay.com or call (888) 730-9374.
About Raintree Systems
Raintree Systems, Inc., a privately-held corporation, is a provider of integrated patient registration, scheduling, electronic medical records, E-Prescribing, billing/collections and management reporting within a single application; empowering organizations to improve client/patient care, streamline workflows and enhance profitability.
Raintree has a proven track record of success and customer satisfaction in Physical Rehabilitation, Surgery, Behavioral Health, Long-Term Pediatric Rehabilitation, Oncology, and Billing Service industries, with more than 2,000 implementations and 16,000 concurrent licensed users deployed throughout more than 50 specialties. Our customer base includes commercial, non-profit and government agencies across the US and Canada. For more information, please visit www.raintreeinc.com or call (800) 333-1033.