“We are pleased by the tremendous growth in collections, which is attributable to better utilization by existing customers, as well as the solid growth of our customer base."
Minneapolis, MN (PRWEB) May 03, 2011
mPay™ Gateway today announced that for the first quarter of 2011, its customers doubled their collections using mPay Gateway’s point-of-care patient payment product, compared to the same period last year. In addition, 100% of mPay Gateway customers participating in a recent survey said mPay Gateway’s services have improved their practice’s bottom line and they would recommend it to other practices.
“We are pleased by the tremendous growth in collections, which is attributable to better utilization by existing customers, as well as the solid growth of our customer base,” said Brian Beutner, chief executive officer of mPay Gateway. “Our customers’ strong satisfaction scores tell us that our services are helping practices improve the patient payment experience and reduce the hassles and costs of traditional after-the-fact paper-based billing. We estimate that our customers avoided sending over 250,000 paper statements in the first quarter alone.”
In the same mPay Gateway survey, customers noted that ease of use, reductions in statements, and fewer collection cases were the top benefits from mPay Gateway. In addition, 83% of respondents said patients appreciate the opportunity to complete payment at the time of service.
The web-based mPay Gateway service provides efficiencies at different times during the payment collection process:
1. Pre-Visit: physician offices can address patient responsibility for pre-scheduled, high-dollar valued procedures and balances on account either through obtaining a patient authorization or establishing a payment plan.
2. Day-of-Visit: physician offices can collect known amounts like co-pays on the day of service and obtain patient authorization for later electronic collection.
3. Post-Visit: physician offices can collect any post-insurance adjudication amounts like deductibles or co-insurance without ever having to send the patient a paper statement.
mPay Gateway’s point-of-care patient payment software addresses the patient’s payment, authorizes the payment at the time of service and collects the patient’s payment after the insurer has settled the claim. mPay Gateway’s software eliminates the need for practices to send expensive patient statements to collect patient-responsible monies.
About mPay Gateway, Inc.
mPay Gateway develops financial technology products and services to support health care’s complex and unique payment environment. mPay Gateway empowers health care providers with a single-source payment solution that enables collections from patients regardless of the patient’s third party payer affiliation. mPay Gateway is a PCI certified acquiring card processor. For more information, visit http://www.mpaygateway.com or info(at)mpaygateway(dot)com.