Apple Pay offers another great option for self pay
If you’ve followed our blogs you know we’ve focused a lot on the topic of self pay collections and how important—and challenging—they are for healthcare providers.
We’ve looked at how more and more patients are responsible for their own care and how providers need to develop a sound strategy revolving around their patients. We’ve examined how different providers across the US are employing differing approaches to self pay collections, and have offered tips for effectively collecting self pay dollars.
As we’ve also discussed, a key part of any self pay strategy should be to give patients payment options that suit their individual preferences and lifestyles. Apple may have just offered a “consumer-friendly” payment technology that could serve as an important part of the patient collection model for many providers moving forward.
Simply put, the company’s new Apple Pay offering allows consumers to easily pay for in-store (as well as online) purchases using their iPhones. Here’s how Apple describes Apple Pay on its website:
Paying in stores or within apps has never been easier. Gone are the days of searching for your wallet. The wasted moments finding the right card. Now payments happen with a single touch.
Apple Pay will change how you pay with breakthrough contactless payment technology and unique security features built right into the devices you have with you every day. So you can use your iPhone to pay in a simple, secure, and private way.
Should this type of technology be of interest to healthcare organizations in this day and age of patient consumerism? We say “absolutely yes.”
So does Joshua Silver, Vice President of Product Development at healthcare technology firm Patientco, who wrote about Apple Pay in a recent HIStalk Readers Write article, observing that perhaps it’s time for healthcare providers to “help their patients by supporting new, consumer-friendly payment technologies” like Apple Pay.
According to Mr. Silver, “…as healthcare providers face the daunting (and expensive) challenge of getting patients to pay, there is perhaps no other industry that can benefit as much from the recent developments in payment processing technology.”
We agree and, as you may have guessed, self pay is a topic MediRevv will continue to talk a lot about. Stay tuned for more.