While healthcare providers are properly focused on patient care, it is important not to overlook the overall patient experience. There are many opportunities to make improvements. One practical way to do this is to allow multiple, digital points of payment. Why is this important? Out-of-pocket costs for patients has increased by 230% in the previous 10 years. Coupled with the challenges presented by COVID-19, health systems need to meet patients where they are and accept non-touch payments anytime, anywhere to improve collections.
Adding new ways to pay may seem like a daunting task. With complex systems that must adhere to stringent compliance and security requirements, the time and resources this change will take may seem like a barrier.
But, with the implementation of a centralized, secure payment solution that can integrate with EHR, kiosks, IVR, and other systems, it becomes much less burdensome. In addition to improving the payment experience for patients, resulting in improved collections, it can also provide organizations with valuable insights and centralized reporting and reconciliation.
Realize Revenue Earlier
An important, bottom-line benefit to providing more points of payment is that it can positively affect an organization’s cash flow by realizing revenue earlier in the billing process. There are smart, simple and secure solutions that can help drive business forward.
69% of consumers don’t believe that healthcare is keeping pace with payments innovation.
You can improve this perception by adding payment methods, which can help increase on time payments and provide patients with the flexibility and security they require. Patients are used to paying for goods and services online, on mobile devices, in app and more. They expect the same capabilities when paying for healthcare services.
To learn more about how healthcare organizations can take payments securely, via many channels, please check out our new E-book, “Secure Payments at Every Touchpoint”.