With Thanksgiving upon us, Patientco likes to practice an attitude of gratitude! To get Health Systems in the spirit, here are a few healthcare payment processing features your revenue cycle team will thank you for.
The Healthcare Payment Processing Tech We’re Thankful For
1. Real-Time HIS Integrations
You and your team live in your core HIS platform, so shouldn’t you all get the most out of it? Empower your team to fully leverage your HIS, either via integrated payment functionality or by using existing workflows to manage patient payments. By embedding payments into existing workflows, your team can easily accept and process payments within the system instead of navigating outside of the HIS. As a result, it’s much easier for your team to assist patients. Avoid using a payments solution that complicates your workflows and forces your team to switch between screens.
2. All-in-One Payment Processor, Gateway & Terminals
Likewise, find a partner that can manage every payment stream from every location. Ideally, you’ll have a processor, gateway, terminals, and management tools in one solution. This eliminates the complexities associated with healthcare payment processing, especially the settlement and disbursement of funds. Meanwhile, your team will have greater visibility of patient payments through enterprise-level reporting. This also helps reduce your PCI scope, so even your Health System’s IT and compliance teams will be thankful!
3. Automated Posting & Reconciliation
With a truly integrated solution, healthcare payment processing becomes a lot easier and part of that is because of automation. Think about how much time your team spends posting and reconciling various payment types. By automating this process, even for mailed checks and correspondence (like our Digital Mailroom does), your team can spend less time posting payments and more time on higher value tasks.
In conclusion, make sure your revenue cycle team stays engaged and motivated with the right healthcare payment processing features. After all, it can make a difference to your Health System’s bottom line. Here’s why: improving the employee engagement results in higher HCAHPS ratings. This was revealed in a recent analysis by Press Ganey, a company known for developing patient satisfaction surveys. Each five-point increase in HCAHPS “rate the hospital” score is associated with a one percent increase in net profit margin.
By empowering staff with a robust healthcare payment processing solution, your revenue cycle team can achieve results that your Health System’s stakeholders will be grateful for.