Facilitating Healthcare Patient Payments in Today’s Medical Environment
Over the last few years, there has been a lot of upheaval in the healthcare sector. A new class of patient has emerged – patients as payers. Today’s modern health plans have very high deductibles. This means that there has been a move away from the traditional model.
At one time, insurers faced the greatest financial burden of making payments. That has all changed. Now, the insurance companies expect patients to meet most of their medical bills themselves. With this shift of liability to individuals from payers, the medical sector has had to make changes. The old-fashioned system of healthcare patient payments is out. Today’s modern online solutions are in.
BillingTree is leading the way in offering outstanding healthcare payment processing solutions. These help to eliminate the issues now being faced by healthcare providers when it comes to eliciting payments on time.
Scalable Solutions for Healthcare Providers
BillingTree has developed a suite of cutting-edge payment solutions designed to meet the needs of all types of healthcare provider. With scalable options, hospitals of all sizes can benefit from our payment system. There are also solutions created specifically for dental and medical practices, as well as pharmacies. All are fully compliant and highly secure for both the patient and the healthcare providers’ peace of mind.
Post-Care and On-Site Payments
While some solutions are only available for post-care or on-site payments, BillingTree’s payment systems are suitable for both. This caters to the needs of all patients. Increasingly, the healthcare industry is facing a situation where patients are willing to pay but are unable to do so. There is, therefore, an increasing need for healthcare patient payments solutions that can accommodate this eventuality.
Facing large medical bills is never a positive experience, especially for patients who have no way to meet their responsibilities. With BillingTree’s patient payment solutions, it’s possible to arrange an ongoing payment plan with regular repayments to tackle persistent debt. This gives patients greater peace of mind. They can set up monthly payments in an amount that they can manage. Not only does this benefit patients, but it also gives service providers an ongoing source of revenue.
An Online Solution for Modern Patients
Manual processing is still in use in many healthcare practices today. Even large practices nationwide are still depending on paper invoices and checks. This is now beginning to change as medical service providers recognize the need for a more modern solution. When it comes to the receipt of healthcare patient payments, there is now a move toward online systems.
BillingTree has a convenient web portal that enables patients to make payments at the time of their choosing. They can choose debit or credit card payments or ACH processing to suit their preferences. Since the portal is available 24 hours a day, seven days a week, it becomes simpler to arrange payments. There is no longer the need to write or mail paper checks. There is also no need to wait for payments to clear. The system processes the payments in real time – ideal for patients who need to know their bank account balances.
For medical service providers, web portals are good news, too. With instant payment processing, revenue gets a much-needed boost. Since a provider is more likely to receive payments on time, cash flow is no longer such a severe problem. This will, therefore, free up time for staff members. Employees will be able to focus on key tasks rather than chasing after debts. It improves patient interactions all around and provides a more satisfied consumer-base.
A Cost-Effective Solution
Saving money has never been more important for healthcare organizations. In the days when insurers covered costs, finding ways to cut expenses was not so vital. However, these days, there is an ever-pressing need for savings to be made. Manual check processing and invoicing is a costly process. Using BillingTree’s online solutions can eliminate this. BillingTree works in partnership with a network of established and reputable banks. This means that more affordable prices are available on payment processing.
When you pair this advantage with U.S.-based customer support and fully-integrated solutions, it’s clear why BillingTree is a top choice. From dental practices and physicians’ offices to full-scale hospitals, BillingTree’s healthcare patient payments systems reduce costs and improve revenue collection. While adopting new technology is always a challenge, BillingTree makes it well worth taking the plunge. Through a streamlined approach to payment collection, BillingTree ensures that healthcare services are more profitable in the long term.
Find out more about BillingTree’s fully compliant advanced healthcare patient payments solutions today. Whether you are running a large or small practice, you are sure to reap the financial benefits. You will receive payments more rapidly with minimal staff time and effort and increase your cash flow for greater profit.