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11 Front-End Billing Tools that Add Revenue and Boost Patient Loyalty

Posted by Brian Watson on Mon, Mar 10, 2014 @ 04:27 PM

How important is the billing process to patient satisfaction and loyalty?

In a word: plenty.

There’s a significant cause-and-effect relationship between confusing, inaccurate, frustrating billing and how patients view your organization and the quality of its care.

According to a 2013 TransUnion study, almost 70% of survey respondents who gave the highest rating to their quality of care also gave high marks to their billing and payment experiences, compared to only 24% who rated their care poorly

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Tags: Online Patient Payment, Self-Pay Revenue, Up-Front Billing

5 Must-Have Online Billing and Payment Tools for Healthcare Providers

Posted by Brian Watson on Fri, Dec 20, 2013 @ 05:13 PM

The core element of any high-performing EBPP solution is bill presentment and payment.

Although enticing, patients won’t often complete EBPP registration for value-added tools like self-service account management, online messaging, or treatment cost estimation alone.

Yes, they’re part of what makes the online billing process easier and more indispensible. But presentment and payment is the straw the stirs the EBPP drink.

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Tags: EBPP, Online Patient Payment

Money Trail: How EBPP Payments Get to Your Bank Account [Infographic]

Posted by Brian Watson on Fri, Jun 28, 2013 @ 04:07 PM

On the surface, online billing and payment might seem pretty simple: your customer makes a payment and a few days later the funds are sitting right there in your bank account.

Easy, right?  Well, it’s actually a bit more complicated than that.

There’s a whole behind-the-scenes system at work, verifying and authorizing payments, handling funds settlement and posting, and collecting information so that it can be easily accessed and used by your business office team.  

In fact there can be as many as five or six different parties involved in the payment value channel: you, your customer, their card network, the issuing bank that back the transaction, and your payment gateway, processor, and merchant acquiring bank.

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Tags: EBPP, Online Patient Payment

4 Smart Technologies that Accelerate Patient Billing and Payment

Posted by Brian Watson on Wed, Apr 24, 2013 @ 05:23 PM

On July 20, 1969, the Apollo Guidance Computer (ACG) and an IBM-developed computer mainframe were used to help Neil Armstrong and Buzz Aldrin complete the still-awe-inspiring-feat of traveling 356,000 km from the earth to the surface of the moon. 

And nearly 45 years later, the technology that fueled the space race pales in comparison to the kind of cheap tchotchke you might pick up at your next trade show. 

The ACG is no more powerful than most modern pocket calculators.  And the IBM System/360 Model 75 had less storage capacity than a run of the mill USB memory stick.

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Tags: Customer Service, Online Patient Payment, Self-Pay Patients

3 Easy Ways to Quickly Build Your Online Billing and Payment Audience

Posted by Brian Watson on Mon, Apr 08, 2013 @ 07:11 PM

Having trouble getting customer acceptance of your online billing and payment system?

Well, you’re not alone.  While online billing and payment is growing steadily, there are still a bunch of EBPP holdouts and fence-sitters out there.  Forrester Research reports that 65% of online consumers are non-adopters of online billing and payment.  Worse yet, two-thirds of that group have never tried it and never plan to.

In other words, while you and I know online billing and payment is chock full of reasons that should make switching a no-brainer, some of your customers still aren’t convinced.  And some don’t ever want to be.

That resistance keeps billers from realizing the benefits of EBPP: faster collections, lower statement preparation and delivery costs and improved customer service practices.

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Tags: EBPP, Online Patient Payment

More Fearless 2013 Predictions: 5 Big Online Billing & Payment Trends

Posted by Brian Watson on Fri, Jan 04, 2013 @ 03:44 PM

Online billing and payment was a very hot topic among billers in 2012.

And for good reason.  After a slow-but-steady usage buildup, EBPP has finally started to gain significant acceptance among mainstream consumers (and businesses).  For example:

Fiserv reported that 53.4% of households now use biller direct online bill payment websites.  And 40.5% of households pay bills online via their financial institution (Both double-digit increases from 2010).

NACHA’s PayItGreen Research found between 30 and 40 percent of consumers receive online statements for a number of key major financial accounts (including checking, savings, credit, and debit accounts).

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Tags: EBPP, Online Patient Payment, Mobile Payment

More than Just Talk: How Mobile Powers Online Billing and Payment

Posted by Brian Watson on Mon, Nov 19, 2012 @ 05:50 PM

Americans are seriously enamored with their mobile devices.

That’s the chief takeaway from the most recent report from the Pew Internet and American Life Project, published in September of this year.  A robust 85% of the adult Americans Pew surveyed for the project report owning a cellular phone of some kind.

That’s a lot of phones.  Millions and millions to be more precise.  And yet it’s probably not a figure that’s especially surprising or noteworthy to you.  After all, if you’re like most Americans, your cell phone of choice is probably a fundamental part of your daily routine.

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Tags: Online Patient Payment, Mobile Payment

Perfecting the Patient Statement: How EBPP Helps Inform & Collect

Posted by Brian Watson on Fri, Oct 12, 2012 @ 06:18 PM

Traditional patient statements perform a critical function.  They inform.  They collect.  They keep your organization awash in the cash that it’s owed.

But – dirty little secret – there’s a limit to their effectiveness. 

Let’s face it: there’s only so much space on an 8 ½ x 11 sheet of paper.  Duplexing and additional pages can be effective, but they’re also pricy.  Payment stubs aren’t exactly real-time or patient friendly.  And envelope room – like page space – is limited.

That doesn’t mean that good statement design isn’t fundamentally important.  We tend to blog about the subject – a lot – for good reason. 

And it’s not an indictment of traditional statement processing, either.  According to a 2010 InstaMed survey, only 9% of healthcare providers’ total patient payment dollar amount came from online sources.  So it’s still obviously really, really important.

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Tags: EBPP, Online Patient Payment

Which EBPP Model Is Right for You?

Posted by Brian Watson on Fri, Sep 14, 2012 @ 10:32 AM

It’s not an exaggeration to say that electronic bill presentment and payment is the future of patient billing. 

Although traditional paper statement processing are still popular with patients, the tide is gradually beginning to turn towards online billing and payment. 

For example, Fiserv’s 2010 Consumer Billing and Payment Trends study reports that nearly 45% of all bills are now paid online.  That’s a stark increase over the 12% that reported making an online payment in 2000.  And with more consumers than ever before banking online (80% of total households), using electronic checks (74% of all checks), and even making payments via smartphones and mobile devices, adoption forecasts for EBPP tend to be particularly rosy for good reason.

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Tags: EBPP, Online Patient Payment, Quick Pay

Work Smarter, Spend Less: 5 Ways to Save Time and Money with EBPP

Posted by Brian Watson on Mon, Sep 10, 2012 @ 04:30 PM

Emerging IT solutions are helping to make the process of running a succesfful healthcare organization simpler and more economical. 

From Electronic Health Records, to mobile health, to e-connecting and prescribing, new IT and management systems are helping healthcare providers reduce costs and offer higher quality patient care.

On the revenue cycle side, EBPP can be a big efficiency boost for providers.  Not only does it accelerate and enhance revenue collection, it also helps simplify and automate common patient accounting tasks: freeing up cash and employee productivity for other key tasks.

Read on for five ways eStatement solutions can help you simplify revenue collection and save your patient finance department loads of time and money.

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Tags: EBPP, Online Patient Payment

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