ALISO VIEJO, Calif., Oct. 22, 2020 /PRNewswire-PRWeb/ -- Mnet Health, the leader in surgical revenue cycle management and patient billing services has announced the launch of its Text-to-Pay solution to help patients pay their medical bills.
Mnet's SMS platform is designed to deliver all patient financial services — everything from payment in full to pay-plans and financing all neatly offered within the confines of a text conversation. Enabling a Text-to-Pay platform helps consumers feel they are in control over their finances and creates a better patient encounter.
A patients' perception of their overall healthcare experience is greatly influenced by the ease with which they can access their bill. As with other consumer-driven industries, patients expect to manage their healthcare billing at any time and from anywhere.
Numerous studies and surveys point to the effectiveness of text billing solutions:
65% of consumers pay their bill on first text notification and 80% of consumers who are given this payment option use it (Authvia data).
SMS (text messages) receive a 4x greater open-rate than traditional email marketing and electronic communications. Billing texts also have a 99% read-rate as most smartphones are set up to automatically show a preview of each text message.
Mnet's Text-to-Pay solution works in both Android and iOS mobile phones to provide a seamless, contactless payment experience for patients. During the Covid-19 pandemic, Text-to-Pay has become an essential solution for healthcare facilities to provide a contactless payment method for their patients.
The solution prompts providers to send a secure link via SMS that enables their patients to pay directly from the text conversation; eliminating both security and contamination risks.
When providers adopt effective, contactless billing and payment options; patients will be kept safe, engaged, and informed.
"We believe every patient deserves a helpful, transparent, easy to navigate financial experience in healthcare," says David Hamilton, CEO of Mnet Health.
With the rise of high deductible health plans and the economic fallout brought about by Covid-19, many patients have become more financially burdened. This is why they need more than just an online bill pay option.
Patients need a variety of other financial services such as payment plans and even financing. With Mnet's Text-to-Pay solution, patients will be able to make payments, set up payment plans, or apply for financing directly from their mobile phones.
Patients love SMS because it's easy to use and yields fast results. When patients text with an agent and receive answers quickly, not only do they save time, but their frustration is reduced, resulting in a more satisfying patient experience.
Americans today are increasingly connected to the world of digital information while "on the go" via mobile devices. According to Pew Research Center, the vast majority of Americans – 96% – now own a cellphone of some kind with 81% owning smartphones.
In addition, a 2019 research study by Asurion revealed that Americans now check their phones 96 times a day or once every 10 minutes. The same study also showed that even Baby Boomers are seven times more likely to text than they are to talk in-person and are twice as likely to send a text instead of call.
Patients expect the same streamlined financial encounter in healthcare as they do in other consumer-driven industries.
With Text-to-Pay, healthcare providers can offer a convenient way for patients, who regularly have their phone in hand or within reach, to pay their medical bills.
Many providers are now making use of the latest contactless payment solutions like Text-to-Pay with Mnet as their partner for success.
About Mnet Health
We believe every patient deserves a helpful, transparent, easy to navigate financial experience in healthcare.
Mnet is the premier revenue cycle management & technology provider to the surgical industry. We provide custom patient-pay solutions to surgical hospitals and ambulatory surgery centers. As of 2020, Mnet Health partners with over 700 surgical facilities nationwide and is the preferred vendor of both United Surgical Partners International (USPI) and Surgical Care Affiliates (SCA) – both directly with and in support of centralized billing offices.
Mnet's custom brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities and their providers grow their business by helping patients pay. Mnet's patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit https://mnethealth.com.
SOURCE Mnet Health
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