How many times have you not received a payment? Or spent months trying to collect by sending paper statements? Too many. Seventy-three percent of providers report it takes one month or longer to collect from a patient. The longer it takes, the less you get paid. After 60 days, you’ll only collect 60 percent of what’s owed. With SR Pay, that is a thing of the past.
Using SR Pay, balance notices can be sent directly to a patient’s phone as soon as you know the patient due amount. And, patients are very likely to see them since 90 percent of people read texts within three minutes. The text message includes a direct link for patients to access a secure payment screen and complete the transaction in a matter of minutes on their smartphone using a debit, credit, HSA, or FSA card. Then, the money appears directly in your bank account!
Remind patients of payment balances and collect what's due with text. Patients can pay via a secure link and with a debit, credit, HSA, or FSA card.
Not only are patients comfortable making electronic payments, many prefer it. Nearly 70 percent of patients want electronic methods to pay their medical bills but only 20 percent currently have that option. A text message through Solutionreach is faster, easier, and less expensive for providers and for patients. A healthcare organization could save thousands each year on postage alone.
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College Avenue Vision Clinic felt they were spending time on the phone that could be better used engaging patients, so they implemented Solutionreach, a cloud-based patient relationship management software.
It's one of the trickiest, but most important, parts of any healthcare organization...collecting payment from patients. In this guide, you can read about ways to use technology to improve the patient payment experience.
Healthcare organizations face incredible challenges when it comes to successfully collecting from patients. Read on to find out how digital solutions can ease some of this pain.