Finding the Perfect Patient Payment Portal Partner
Collecting what is owed to your organization is extremely important in today's healthcare environment. An increase in high-deductible health plans is resulting in more patient payment responsibility which means providers now need to collect more money from their patients more frequently, and patients are demanding easier payment methods. We found, overwhelmingly, that using electronic payment services increases patient satisfaction and decreases administrative costs. What better combination could we ask for?
Finding the right payment portal solution that provides the best features for you and your patients will have a positive effect on the financial health of your organization. To take the mystery out of what you should be looking for, we’ve put together this criteria list. Look for vendors offering the following:
Branding A customized website that reflects your branding – or can be integrated into your existing website – will help patients feel safe and comfortable when using the portal.
Self-Enrollment This feature helps patients save time by providing the convenience of online bill pay and access to billing statements and other documents.
Flexible Payments Offering a variety of 24/7 on-line options will decrease your call volume and free resources. Patients should be given the option of making payments using credit cards, debit cards or bank accounts. They should also have the ability to easily set up one-time or pre-authorized payments, enroll and manage payment plans and be able to view their payment history.
Communication Patients should be able to securely communicate with you through PCI compliant phone support, e-mail or live online chat. A system that provides electronic receipts to the patient through e-mail is environmentally friendly and saves on mailing costs.
Support A good payment portal will provide your staff access to patient payment histories as well as the ability to take patient payments at point of service or over the phone and manage patient inquiries related to bill payments.
Reporting Comprehensive reports related to insurance information updates, transactions, settlement, etc. can be used to document payment trends and estimate expected revenue.
The right partner will help you automate and streamline the collection process and will create efficiencies in many areas of the revenue cycle by offering easy to use, convenient and flexible online bill payment services to your patients. While you benefit from faster collection of patient payments, increased revenue, reduction of bad debt and billing costs and improved patient satisfaction, your patients enjoy the ability to make easy payments through electronic outlets.
Sound like a win-win? We think so!