What to Look for in Healthcare Payment Systems

There are 42.9 million Americans who have unpaid medical bills. These unpaid bills result in many healthcare facilities not being compensated for their valuable services.

Sometimes, patients may not be able to pay because of financial issues. Perhaps they simply forget to pay their bills, or they cannot figure out a simple way to pay them, so they don’t. That is why healthcare providers need to utilize healthcare payment processing solutions that will make the payment process as seamless and effective as possible.

When shopping around for healthcare payment systems, healthcare providers should keep the following requirements in mind:

The system is easy for patients to operate

Patients do not want to jump through hoops to pay their bills. They wish to be able to pay in a fast and efficient manner. They want to touch buttons on their telephone keypad through Interactive Voice Response (IVR) or quickly reach an agent to pay their premiums and medical bills. If they log onto their patient payment portal, they want the page to load fast and for there to be a prominently displayed link where they can pay with one click. The healthcare payment systems in place need to be simple to use for anybody and everybody.

It can be accessed by telephone or online

Some patients prefer to jump on the phone to pay a bill, while others would rather go on their computers or mobile devices to do this. Healthcare payment systems should be accessible by telephone or the internet so that users can have a choice in how they pay.

Agents are standing by

Customers love to chat with representatives through the phone. In fact, in a survey from NICE Systems, respondents ranked it the number one way to resolve customer service issues. It fared better than self-service websites, email, live chat on websites, and social media. Agents who can answer patients’ payment questions need to be standing by and available for assistance. They can help customers who are frustrated with the other ways to pay and make sure their payments go through swiftly and without a hitch.

It can take different types of payments

In the 2016 Healthcare Operations and Technology Survey, from BillingTree, it was discovered that 93.3% of healthcare providers accept credit/debit cards and paper checks/money orders, 73.3% accept electronic checks, and 66.7% take HSA/FSA. To be competitive with other healthcare facilities as well as provide a convenient service for customers, it is crucial that healthcare payment systems give patients a variety of choices for how they can pay.

It sends out reminders

The average person has multiple bills they must pay per month, including mortgages or rent, utilities, the internet, cable, insurance, car payments, and credit cards. They may not remember to pay their medical bills on top of all that. Before a bill is due, healthcare payment systems should be sending out reminders to customers to send in their payments. The reminders can be sent through email, text message, physical mailings, and telephone, and will increase the likelihood that customers will pay.

It offers recurring payments

Recurring payments can help a customer avoid a late payment, as well as put healthcare providers at ease. Healthcare payment systems should be able to accept recurring payments through ACH and credit and debit cards to make it comfortable for the patient.

Great healthcare payment systems can save a healthcare provider the time, money, and resources it takes to ensure that patients are taking care of their bills. If these systems offer a variety of convenient solutions, customers will have a simpler way to send in their payments.

Are your patients past due on their bills? Do you want an effective healthcare payment solution that will encourage patients to pay on time? To learn about how BillingTree can help you, contact BillingTree or call us at 877-424-5587.