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CarePayment Named Top Performer in Patient Financing and Financial Engagement Solutions by Black Book Research - Read Press Release
Blog | December 13, 2020
In today’s healthcare landscape, financial barriers often prevent patients from accessing the care they need. Rising out-of-pocket costs and complex payment processes can lead to delays in treatment. In turn, this creates challenges for healthcare providers to maintain a steady cash flow.
To address these issues, CarePayment developed an advanced patient engagement platform. This digital solution aims to minimize financial obstacles for patients, optimize collections for providers, and foster a positive experiences that boost loyalty and reduce payment latency.
One of the key components of CarePayment’s platform consists of early engagement messaging. By initiating digital outreach starting from the scheduling and registration stages, the platform closes the communication gap regarding financial responsibilities.
Patients receive timely and frequent messages that provide clarity on their financial obligations. This digital communication thus reduces payment latency and enhances patient satisfaction. By establishing trust and fostering ongoing communication, this advanced patient engagement feature builds a stronger relationship between patients and healthcare providers.
Recognizing the increasing preference for digital solutions, CarePayment offers paperless program enrollment and management options. Patients who prefer real-time, technology-based access and payment methods can now conveniently engage with the platform.
This user-friendly approach empowers more patients to participate in the program and take advantage of its benefits. By streamlining the enrollment and payment processes, CarePayment helps remove barriers and ensures a seamless experience for patients.
CarePayment’s advanced patient engagement platform incorporates an intelligent account servicing workflow that automates decision-making processes. By leveraging insights and analytics, this workflow reduces common process friction that often arises from factors such as high balance limits or missing account information.
The result is a streamlined and efficient system that reduces administrative burdens for both staff and patients. Moreover, by eliminating obstacles in the payment process, this feature contributes to increased collections for healthcare providers.
To provide patients with a variety of payment options, CarePayment’s platform includes a range of digital payment tools. Notably, the platform introduces text notification and payment capabilities, allowing patients to conveniently settle their financial obligations through their mobile devices.
Additionally, an enhanced patient member portal offers an intuitive interface for managing accounts and making payments. These digital solutions are seamlessly integrated with high-touch human support and paper communications when preferred, ensuring a personalized experience for every patient.
CarePayment’s advanced patient engagement Pplatform adopts a proactive approach by engaging patients at every step of their healthcare financial journey. This extends beyond catering solely to those who actively seek assistance. The platform offers several features:
Patient Choice allows patients to opt in to the program at any time, ensuring inclusivity. Patient Assign is a unique pre-bad debt program that helps mitigate potential financial challenges before they escalate. Moreover, the platform offers comprehensive solutions for payment plans and aged accounts receivable conversions, enabling providers to address outstanding balances effectively.
CarePayment’s advanced patient engagement platform represents a significant advancement in reducing financial barriers to healthcare and optimizing collections for providers. By integrating digital capabilities, early engagement messaging, intelligent account servicing workflows, and comprehensive solution outreach, the platform creates a patient-centric approach that prioritizes both accessibility and patient satisfaction.
With the power of technology and a human touch, CarePayment empowers patients to navigate the financial aspects of their healthcare journey more efficiently while ensuring healthcare providers can maintain financial stability and deliver quality care.