Alternative payment solutions like Apple Pay, Venmo and PayPal have changed people's expectations when it comes to convenience and efficiency. People want to make payments on their own schedule and be given the choice. The same is true for patients when it comes to paying their medical bills. Frustration kicks in if a patient has to wait for a bill to come through in the mail, and then make a call into the billing office to pay by credit card over the phone. With Flexible Spending Accounts often issuing debit cards to complete medical transactions, and medical-focused credit cards like Care Credit offering payment and financing options, not to mention the rising costs of healthcare, the use of cards for covering medical expenses is more prevalent than ever. Patients want a web page they can type in their invoice number and make a card payment at their own convenience, and subsequently receive an emailed receipt, which is usually required for tax purposes. Hosted payments pages like this are now a necessity for medical practices.
Patients want to quickly jump online, login to their medical account and see their balance, and then pay it. Done. Its ease and efficiency has become a big selling point to patients today, increasing their overall satisfaction with the practice. And to be frank, if a new patient is looking for a modern practice, that is up to date on the latest technologies and advancements, it doesn’t speak well to that point if the provider doesn’t have a current website with online medical bill features. Fully integrated solutions allow for balance updates, which are a must for large hospital systems where a single patient may be dealing with multiple providers. Smaller offices would benefit from a more simple solution even, at the very least, allowing card payments online.
But it’s not just about the patient. There are multiple benefits for the medical provider as well. There’s a reduction in liability. More importantly, the practice will get paid faster. It will lessen the number of outstanding invoices that get sent to collections simply because the bill got lost on the patient's desk.
The growing complexity of payment management is challenging—especially for medical providers. And it’s important to stay with the times or you’ll be left behind. Whether you are a small or large hospital system, let Solupay help you with Hosted Payment Page solutions.