Healthcare payments are often complex, particularly with insurance reimbursements, paper invoices, and multiple statements with varying payment amounts. These issues make patients overlook healthcare bills, leading to delayed or missed payments.
Healthcare practices don’t just lose income; paper billing also drive up administrative costs and creates staff overhead. The traditional patient payment experience is complex and frustrating, leaving revenue cycle teams spinning their wheels.
To overcome these struggles, practices need cost-efficient and flexible payment options. Keeping a pulse on digital payment trends can help your practice meet emerging patients’ expectations and enhance their overall experience.
Navigating Digital Healthcare Payments:
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Payment Plan Options
With the significant increase in healthcare costs, patients often need time to manage their payments. To assist them, practices can provide flexible medical payment plans that allow patients to settle their outstanding balances over time.
To implement these payment plan solutions, practices need a robust approach to monitoring payment status. With CERTIFY Health, practice can offer payment plans that enable patients to pay over time or make minimum amounts.
Practices can understand the financial situations of different patients and offer customizable plans to automate their payment collections. Additionally, healthcare patient financing allows patients to set up payment plans regardless of their credit score. This ensures that patients have better access to care, while providers receive payments shortly after providing care. -
Online Payment Methods
With 24/7, 365 days access to online payment portals, patients can settle their bills conveniently anytime and anywhere. Instead of standing in lines or waiting on the phone to settle bills, give patients the option to pay in their own time.
Patients can make their payments right through their phones. CERTIFY Health provides your patients convenient payment methods, including:
- Flexible Spending Account
- Health Savings Account
- Google Pay/Apple Pay
- ACH Transfers
- Credit Cards
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Text-to-Pay & Payment Links
When it is easier to make health payments, patients are more likely to pay bills on time. Text-to-pay is one convenient payment option that helps practices receive payments from the patients earlier.
CERTIFY Health offers patients' text-to-pay to improve the patient payment experience. It is efficient and effective, and lets you send text messages stating patient balance and a secure payment link to pay the amount. Once your patient receives the link, they can click and go straight to the portal to complete payment.
Text-to-pay requires minimal effort from your staff, while it eliminates patient confusion and friction. It is so quick that providers can be paid before an invoice is sent. According to a survey, 95% of accounts sent via secure text are paid within 14 days. With text-to-pay, revenue teams can get accounts receivable in hours instead of months. -
QR Codes for Healthcare Payments
Practices using the online portal can send their patients QR code to make their payments easily. You can add a QR code to electronic or paper invoice statements, giving patients a direct way to pay using their mobile phones. Practice can also display payment QR codes in your office, letting patient’s self-service payment while they wait or after an office visit, eliminating long waits at the front desk.
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IVR for Healthcare Payments
Interactive Voice Response (IVR) system is another payment approach, offering patients a convenient and secure way to pay their invoices over the phone. Patients can input their payment information to authorize their payments, ensuring data is protected in compliance with industry standards such as PCI-DSS.
CERTIFY Health’s IVR provides timely payment reminders and enhances billing transparency and efficiency. Patients can get real-time updates on account balances, review payment histories, and set up automated payment plans, reducing your staff’s administrative burden.
CERTIFY Health’s revenue cycle management tools can:
- Encourage your patients to pay on time with easy payment process
- Integrate with electronic health records (EHR) for streamlined operations
- Help practices reduce payment delays with contactless payment options
- Free up your practice staff, eliminating the need to handle physical payment method
- Provide patients with clear and transparent billing information, ensuring trust and understanding
Digital healthcare payments are moving towards greater convenience, security, and efficiency. Innovations like contactless payments, seamless integration with electronic health records, and AI-driven revenue cycle management are transforming how healthcare providers handle billing.
By adopting our CERTIFY’s advanced RCM tools, practices can ensure timely payments and maintain a transparent, efficient billing system with your patients.
