“The rise of the patient as the ‘third payor’ has made the collection process more difficult and costly. -- Cheryl Myers, CMPE, Jacksonville Children's & Multispecialty Clinic
Durham, NC (PRWEB) February 21, 2017
PatientPay℠, the leader in paperless patient billing solutions for the healthcare industry, today announced Jacksonville Children’s & Multispeciality Clinic has paired the PatientPay Paperless℠ solution with its NextGen practice management software to collect more patient payments, faster and at less cost.
“After an evaluation of the clinic’s billing process, it became clear we managed a high percentage of self-pay balances, coupled with high statement and collection costs,” said Cheryl Myers, CMPE, the Jacksonville, North Carolina-based clinic’s Director of Revenue Cycle Management. “It was necessary to take new steps to improve communications with our patients and, as a result, collect payments from them in a more timely manner, with less effort and expense.”
The PatientPay Paperless solution integrates with most popular practice management software products to increase the speed, reduce the cost to produce and distribute statements and secure payments from patients electronically. It also affords automatic reconciliation of patient payments to a provider’s accounting system, just like it reconciles insurance payments today, so there is no change to existing workflows.
“The decision to change to PatientPay was driven by both external and internal factors,” Myers said. “The rise of the patient as the ‘third payor’ has made the collection process more difficult and costly. This paradigm shift in our industry and the fact we are growing as a healthcare provider, made this the right time to move to a more efficient billing process and implement the right technology. We are excited to be among the first to have PatientPay integrated with NextGen software, which we use to manage the business aspects of our clinic.”
“We have come to see Cheryl and the rest of the team at the Jacksonville Children’s & Multispecialty Clinic as dedicated to improving patient care and reducing healthcare costs by providing innovative technology systems and services,” said Tom Furr, PatientPay’s CEO. ”We are pleased they have opted to utilize PatientPay Paperless to heighten the efficiency of its overall patient payment collection process.”
According to Myers, the use of PatientPay has improved the clinic’s ability to present and process payments online as well as providing payment plans, a growing need as patients’ financial burden grows. PatientPay is shown to improve collection success by a factor of 3.5X, get providers paid on average in 12 days, and save up to $4.00 per statement.
PatientPay creates patient payment solutions that help patients, practices, 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 to bring to healthcare consumers the same type of payment solutions they use in retail and e-commerce environments. 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.