5 Ways Patient Payment Solutions Enhance Patient Experience

May 18, 2022
5 Ways Patient Payment Solutions Enhance Patient Experience

A 2021 survey found that 85% of health consumers preferred electronic payment options. This fact falls in line with a growing trend of digital-centered care. Improved automatic programs are entering the medical field yearly to streamline workflow.

To remain technologically relevant, many practices are investing in online portals. These systems save money and time. They also improve consumer relations by giving patients remote communication and payment options.

Here are five ways patient payment solutions enhance the patient experience. 

Improved Health Security

The Covid-19 pandemic instilled a fear of hospitals in much of the population. This fear is not unfounded as clinics are an excellent place to get sick. Thankfully, online portals allow workers to spend less time physically near staff. 

Practices can send patients a sign-in page before arriving. After receiving a service, patients can pay their bills online. By reducing the time visitors spend with medical workers, providers increase patients’ sense of security. 

Automated Invoicing

A 2021 study found that 75% of providers primarily use a manual, paper-based collection process. Staff must input payment information, print the papers, and mail them by hand. This process is a time-consuming and poor use of medical billers’ work hours. 

Automated systems can do most of the invoicing process without human oversight. Invoicing software automatically sends the bill once services and contact information are in the system. By integrating electronic health records (EHRs), manual input is even less necessary. 

Patients can opt to receive notifications through text, email, or call. This flexibility satisfies modern consumers more than the previous rigidity of paper invoices. The future will bring near-ubiquitous automatic billing. However, paper-based stagnation leaves the door open for early adopters to become innovative. 

Flexible Payment Plans

With rising patient payment responsibility, practices should expect increased service write-offs. Many consumers can’t reimburse services in the short-term but have long-term options. Payment plans are a way to work with these patients. 

Financial plans schedule a series of payments over a period. This long-term flexibility allows lower-income consumers to use services without fear of defaulting. Online scheduling keeps these payers and providers on the same timeline, strengthening communication.

Instant Payer Data

Payment portals give practices detailed, instant knowledge of a patient’s financial progress. Portals record plans, payment dates, and connected accounts. This information is critical in reducing practice follow-ups to check on invoices. Payment recovery efficiency improves by storing all relevant information in one place.

Health Data Analytics

Analyzing how your practice performs is a critical part of self-improvement. Digitized workflow offers large data sets to measure outcomes. An audit may find that performance fell after incorporating certain standards. If so, consider revitalizing your guidelines. 

This same process applies to digital features such as notification layout. Improving seemingly tiny details can result in a significant bump in patient satisfaction. 

AnodynePay is a leader in the patient payment solutions industry. We offer e-statements, billing portals, invoice notifications, and performance analytics. Our quality software handles these services in a time-saving, efficiency-boosting manner. Visit our site to start your automated journey. 

Key Takeaways

1. Minimizing patients’ contact with medical staff boosts security trust. 

2. Patients prefer the flexibility of automatic notifications and invoices. 

3. Payment plans offer consumers long-term options for otherwise unaffordable bills. 

4. Instant, detailed payment information helps streamline the recovery process.

5. Digitizing workflow makes data analytics possible. 

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Febien Caltin

Febien Caltin is a dynamic professional with 20+ years of extensive experience in the healthcare RCM space. He has expertise in Consulting, and Strategic Planning on solving critical issues healthcare providers face in the RCM process. Febien is committed to the growth of healthcare providers through his immense experience.

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