With an increase in high deductible plans, higher co-pays, higher co-insurance, nearly 40% of patients are self-pay and 50 cents out of every dollar directly billed to your patient is going uncollected, you need to find a solution now for the financial health of your business. We specialize in patient payment solutions for medical practices and hospitals.
This web-based, patient friendly solution was designed specifically for healthcare providers to:
Using the point of care revenue cycle management tool called the Revenue Maximizer™, you’ll instantly verify patients’ insurance eligibility and estimate the balance owed before they leave the office.
Then using the integrated payment processing features of this system, you can secure that balance on the spot – by cash, check, ACH, credit card or debit card.
Medical Pay Solutions specializes in revenue cycle management solutions for healthcare providers. We offer this proven system that effectively helps our clients overcome
Instant Real-Time Eligibility Verification
Verify your patient’s eligibility, co-pay, co-insurance and remaining deductible in seconds.
Create an Estimate of the Patient's Financial Responsibility
Creating an estimate is a critical step in identifying the full patient balance before the patient leaves from the first encounter.
These estimates are like “mock” EOB’s that will help your staff make point of service payment arrangements with the patient. You want to secure every dollar you can and more importantly, you want the patient to know the balance due and what your payment policy is. You will be able to print out
the estimate and ask your patient to sign it.
This step is critical for several reasons:
‘pre-EOB’ in line item format so that patients can see exactly what they owe, making
the process to secure a payment routine and non-confrontational for both patient and staff.
Payment Options for Your Patients
For patients that cannot pay the entire balance in one payment, you can use the system to set up automated recurring payments from a credit card or bank account. You can also store a “card on file” to be used for payment post adjudication when you receive the EOB from the payer.
The patient provides his or her credit card or bank account information with authorization at the time of service. The system safely and securely stores the payment information, encrypting the data in accordance with both HIPAA/HITECH and Payment Card Industry (PCI) data security requirements, protecting your organization from the risk of theft or misuse, or violation due to unsafe practices in storing patients’ personal and financial information.
Advantages for Healthcare Providers
We are not a Billing Company.