A large health system in the Mid-Atlantic asked Paymentus to provide a single healthcare payment solution that could streamline reconciliation and fund settlement across each of its major departments; hospital, home care division and physician division. Having recently implemented an Epic billing module, the health system also required that Paymentus automatically post payments into their system to avoid manual work. Lastly, because the health system struggled collecting on large balances, the ability to set up configurable payment plans and recurring payments was a top priority.
Channels and Features Implemented:
- IVR (Interactive Voice Response) – we provided an automated phone system that allows patients/guarantors to hear account balance(s) and make payments 24/7.
- One-Time/Guest Payment – to simplify web payment collection, we implemented a secure, fully hosted payment channel that does not require a log in or password
- Scheduled/Recurring Payments – we configured the system to accommodate the health system’s business logic related to payment plans and recurring payments.
- Agent Portal – we equipped the health system with a role-based administrator tool for accepting payments, scheduling payments, viewing account details (billing and payment history) and communicating with patients.
- Mobile Agent Portal – we deployed a responsive, mobile-accessible tool that gave the client full system functionality from anywhere, at any time on any mobile device. The client could now accept payments even at the bedside.
- Rapid Adoption – Within the first full year of implementing the Paymentus platform as their healthcare payment solution, the client reported that they “tripled the number of payments received through electronic channels.”
- Continued Success – In the last fiscal year, four years after deployment, electronic payments (online, IVR, recurring, mobile) processed by Paymentus increased by 19%.
- Fewer Incoming Calls to Billing Office – Over 4,000 payments per year are accepted through the IVR channel, greatly reducing the number of billing and payment related calls handled by health system personnel.
- Improved Revenue Cycle – Average number of days in Accounts Receivable has improved by 17% since implementing the omni-channel solution with more patient self-pay options.
- Automated Reconciliation and Posting – Client is now able to automatically reconcile all payments, regardless of payment channel and/or department and post them directly back into the Epic billing solution. All payments funnel into the appropriate bank account for each department and division.
“Thanks to Paymentus, we now spend significantly less time doing manual reconciliation and audit activities. And from a patient perspective, offering more payment channels that are easy to use allows patients to choose the payment method that works best and is most convenient for them to pay their medical bills easily and on-time.”