When it comes to the medical billing process, there’s a lot left to be desired. Paying for medical bills is, in many ways, very different than paying a phone bill or the monthly payment on your car. Medical bills are oftentimes confusing, with a lack of transparency or clear delineation of patient responsibility vs. insurance responsibility, etc. Add to that an antiquated payment collection system and it’s not hard to understand why so many patients end up frustrated with the billing process and - subsequently - their provider.
One thing we can say for certain is that this disconnect isn’t intentional! In fact, healthcare providers and practices also suffer when patients face difficulties in paying their bills. Your provider is on your side, but in many cases they’re limited by the constraints of the system around them. Our goal at Wellpay is to improve that system, making patient accounts easy to update, easy to navigate, and easy to make payments on!
Digital Payment Options
The most effective way to simplify the patient billing process is by integrating digital payment solutions. The healthcare sector is notorious for holding onto outdated methods and technology, likely out of fear for HIPAA compliance. What you really need as a provider is a reliable, trustworthy payment platform that securely connects consumers, providers, and payers for every payment transaction.
With digital payment systems, the payer and payee use electronic modes (secure, encrypted transactions via any internet-connected device) to send and receive money. Payment is carried out via digital wallets, digital currencies, net banking, bank cards, and contact and contactless payment methods. This practice isn’t anything new; from ordering takeout to shopping online, people have been making digital payments for over a decade - it’s time for the healthcare sector to evolve to meet consumers’ requests.
Text & Email-to-Pay
The use of digital payments is on the rise, and has been for a few years. Estimates suggest that during 2019, 2.1 billion consumers used a digital wallet – up 30% from 2017. Smartphones have undoubtedly changed the way people interact with all businesses, including their medical practice. Patients want the convenience of conducting business from their devices, and this includes everything from viewing account details to making payments.
With a digital system, your practice will no longer be at the mercy of snail mail. Wellpay allows you to connect with patients on the go and get paid much more quickly through text or email. In addition, these solutions offer extremely attractive contactless check out options in the midst of the COVID-19 pandemic. Customers will appreciate not only the convenience but also the safety that comes with digital billing.
What To Look For In A Solution
Not all text and email payment solutions are created equally; it helps to know which option is best suited for your practice. Ask yourself which specific product features will ensure that you are meeting patient expectations and maintaining necessary security to keep your clients’ trust. As you evaluate your options for digital payment handlers, keep in mind how important the following two factors are for patients: financing and automatic payments.
Wellpay is a robust, client-approved payment solution that provides patients with the simple tools they require to quickly pay bills (yes, that includes financing and autopay!). Our toolset reduces the likelihood of late payments and the accumulation of outstanding debt. If we’re all being honest, wouldn’t it be nice to have your practice’s bills paid and current, finally?
Start your free trial today and see how it works!