"Consumers want paperless billing and medical practices who adopt it will be better able to save up to $4.00 per payment.” -- Tom Furr, PatientPay's CEO
Atlanta and Durham, NC (PRWEB) March 29, 2016
Libbie Hudson took her daughter to Kids First Pediatrics in suburban Atlanta recently. Unlike most medical practices, if this pediatrician needs to send a bill, it arrives in the Atlanta mother’s inbox and not in her mailbox. Kids First Pediatrics is one of a growing number of medical practices across the U.S. choosing to rid themselves and their patients of paper bills that are costly for the practice to send and confusing for the patients who receive them..
Before her daughter’s doctor opted for the PatientPay Paperless solution, the three biggest annoyances Hudson had with paper bills were “the repetition, the wasting of paper and having to figure out how to get money to the source,” she said. Now Hudson finds that PatientPay helps her better manage healthcare-related expenses “because it is easy and convenient.”
Despite Ms. Hudson’s experience, most medical practices are not responsive to the preference of their patients. A survey of U.S. healthcare consumers by Deloitte found that 70 percent of respondents prefer to get their medical bills online while over 98% of healthcare bills are still initiated with a paper statement. Interestingly though, for healthcare providers, the change is not a difficult one.
Using PatientPay Paperless, when a medical practice issues a bill after it has been adjudicated by the patient’s insurance carrier, the patient receives an email alerting them a bill is available. The patient sees an easy to understand statement that matches perfectly with their Explanation of Benefits. On average nearly three-quarter of patients who receive PatientPay Paperless bills pay them within in 14 days. By contrast, paper bills payment cycle typically runs 120 days.
“We quickly and simply pay most of our bills online except those for healthcare,” Furr said. “The Centers for Medicare and Medicaid Services projects that by 2018 there will be over $319 billion in out-of-pocket expenses that will have to be paid by consumers, yet electronic payment methods like PatientPay are overwhelmingly underutilized in the healthcare sector. Consumers want paperless billing and medical practices who adopt it will be better able to save up to $4.00 per payment.”
Hudson, who describes PatientPay Paperless as “awesome,” said it offers benefits to doctors and patients alike. She said “everyone wins.”
About PatientPay Paperless
To view a video that explains the benefits of PatientPay Paperless click here:
How PatientPay Works
PatientPay creates patient payment solutions that help patients, practices and hospitals and revenue cycle management providers better control expenses in today’s healthcare environment.
Its solutions yield greater operational and financial efficiency for healthcare providers while giving patients a simple way to manage their healthcare-related financial obligations. The billing, payment and reporting services are HIPAA and PCI Level 1 compliant and eliminate time-intensive, error-prone, manual back-end efforts to process and reconcile paper bills or manage a traditional online portal.
PatientPay was founded in 2008 to bring to healthcare consumers the same type of payment solutions they use in retail and e-commerce environments. In 2012 PatientPay was granted three patents (U.S. Patent Nos. 8,155,983, 8,204,764 and 8,214,233) for its innovative process that underpins its solutions, which can be integrated with any healthcare management software.
The company is headquartered in Durham, North Carolina. For more information, please visit http://www.patientpay.com or call (888) 730-9374.
PatientPay, PatientPay Paperless and the PatientPay logo are registered trademarks or service marks of PatientPay, Inc. Other marks belong to their respective owners.