Are You Ready to Collect More Payments from Patients?

Posted by Dawn Lunde on Thu, Aug 11, 2016 @ 08:00 AM

Healthcare providers can't lag behind the major changes in direct patient payment responsibility.
Healthcare providers can't lag behind the major changes in direct patient payment responsibility.

Patients have always paid some of the price of healthcare, but major shifts in the market mean the general public have much greater financial responsibilities than in the past. Changes including the Affordable Care Act, various federal and state regulations, employer-defined contribution models, and many other concerns have placed more direct obligations on patients. These have resulted in healthcare providers needing to collect more from the patients who visit their facilities instead of dealing with intermediaries like insurance companies.

Is your facility ready to take on this growing change in the culture of patient payments? Do you have the advanced payment solutions necessary to efficiently handle this increased responsibility?

"Is your facility ready to take on this growing change in the culture of patient payments?"

Larger obligations require more effective health payment systems
The growing number of patients with higher costs  required to pay out of pocket can increase administrative demands on healthcare providers. Facilities that don't accept a variety of newer forms and methods of payment - credit and debit cards, online payments and HSAs, etc. - will struggle when attempting to manage the increasing rate of incoming patient payments. However, even when healthcare facilities have separate payment systems in place to accept these revenue streams, they still can suffer in terms of operational efficiency, data visibility and management of related concerns like refunds and payment plans.

Healthcare providers with a unified, centralized system that processes all their payments and securely stores the data will  become more efficient as direct patient financial responsibilities grow. Those that don't will likely find themselves dedicating more time, effort, and resources toward an administrative task that patients don't see nor directly benefit from. In short, providers with effective electronic payment systems are more agile and responsive, both in terms of patient interactions and management duties.

Centralized healthcare payment systems also provide options and flexibility to patients in ways that are difficult for organizations that lack such software to achieve. A modern payment solution allows providers to offer online payments and pre-authorized, recurring payment plans. This provides convenience to patients and lowered accounts receivable for providers. In fact, our clients realize an average reduction of 18 percent in their A/R just by using recurring payment plans.

Tags: Health Care Marketplace

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  • "We have so much more information available to us with SBP than with our previous service. It's offering our patients more flexibility, and happier patients are much more pleasant for our Billing Office to deal with."

    - Kurt A.
    Revenue Cycle Manager
    National Imaging Center
  • "The staff at Secure Bill Pay have been an excellent revenue cycle partner in assisting us with setting up our processes, helping us review and analyze our results and identify opportunities at our various locations. They partner with us to identify new solutions and services as we have grown. The reliability for payment processing has been very good and our requests for Customer Support are handled very timely and thoroughly."
    - Kathleen J.
    Central Business Office Manager
    Multi-Hospital & Clinic Health System
  • "Our volume of patient credit/debit card payments increased by 44% in the first month of the service compared to that same month a year prior (with the same patient volume). We attribute that to now having online bill pay and better ability to collect at the POS for all of our locations [where we had not been before], even the outreach sites!"
    - Terry M.
    Practice Administrator
    Orthopedic Spine Surgery Group
  • “I’ve been shocked with the success of the online bill paying program... Patients come to us in acute health care situations. Bill paying is not their highest priority. We didn’t expect so many patients to use Secure Bill Pay so quickly, but the statistics speak for themselves.”
    - Beth M.
    VP Revenue Cycle
    Large University Health System
  • "Before Secure Bill Pay, online bill pay only accounted for one percent of our payments. After just six months of using Secure Bill Pay’s no-login solution, that number reached 10 percent."
    - Jen R.
    Finance Manager
    Large Ophthalmology Practice
  • “The nice part about Secure Bill Pay is the breadth of tools available to manage the entire patient pay process. But the best part is the outcomes we’ve seen, including year-over-year double-digit increases in patient pay revenue that are not wholly due to industry or volume changes.”

    "The integration with our PM/EMR software is simply icing on the cake."

    - Steve M.
    Director of Business Services
    Large Integrated Health System
  • "Senior Management is thrilled with the numbers coming through due to our implementation of Secure Bill Pay."
    - Kim W.
    Business Office Supervisor
    Inpatient & Outpatient Psychiatric Facility
  • "The system was received with open arms at each clinic. All had a few questions at first, but as you said, it was simple to get comfortable."
    - Sue C.
    Practice Manager
    Large Nephrology Practice
  • "Secure Bill Pay has streamlined our credit card process. It has been beneficial from a processing end to a storage and search of record end. Certainly saves us time!"
    - Jackie F.
    Business Office Manager
    Dematology Practice
  • "It is easy to talk about a product and service we are totally happy with!"
    - Cheryl M.
    Practice Manager
    Mid-size Ophthalmology Practice
  • "We're impressed. Thank you for not being afraid of any question we may ask and answering it in a straightforward manner. This gives us more confidence."
    - Grant E.
    Revenue Cycle Manager
    Large Dermatology Clinic
  • "Secure Bill Pay  is a much more efficient option for collecting patient payments... It is a forward thinking approach for healthcare revenue. Dynamics have switched where we all need to think and act like a business versus a service."

    - Julie H.
    Director of Business Services
    Large Physician Group


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