March 7, 2022

Why All Healthcare Providers Should Use Patient Payment Portals and How They Pay Off

by
Benjamin Walker

Patient engagement is essential for the long-term success of a healthcare practice. And one of the best ways to encourage engagement is to give patients more control and access to their health records. Implementing a patient payment portal is a good start.

Patient portals are relatively new in the industry, so some hospital executives are unsure about investing in them. How do you know if it will be a suitable long-term asset for your organization? The key is to think about the needs of your patients and gauge their willingness to use one.

Data indicates that patients want them

About 80 percent of Americans with access to their ePHI use a patient payment portal, and more than 60 percent who don’t have access say that they want one. Interestingly, around 41 percent of US consumers will consider switching doctors to access an ePHI.

Think again if you believe that payment portals are just for tech-savvy young users. Older patients also use technology and are likely to use a payment portal if they have access to one. More than 75 percent of Medicare patients use the internet at least once daily. However, of the 83 percent of seniors who think they should have access to their ePHI, only 28 have access.

How healthcare providers can benefit from it

Hospitals invest in a high-quality patient payment portal to meet Meaningful Use Requirements. For instance, Meaningful Use Stage 3 requires that 80 percent of patients must be able to access their records through an ONC-certified API. Patient portals also help optimize hospital workflows and reduce administrative expenses. Thus, leading to better delivery of customer service and patient care—which eventually leads to higher patient loyalty.

AnodynePay by Plutus Health offers patient portals and other relevant and useful features that simplify patient billing by digitizing every patient’s financial journey with text-based payment reminders, e-statements, and an online bill pay period. A patient payment portal can also provide a more cost-effective and efficient bills collection process for patients. Try it today to see how it can further enhance your billing practices and overall financial viability.

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