It’s safe to say that very few patients enjoy paying medical bills, but since it’s something they have to do, the process might as well be as efficient as possible. From the point of view of medical practices, which rely upon those payments to sustain their businesses, efficiency isn’t simply a nice option, but essential to their overall mission of delivering quality care.
That dual goal — meeting the needs of patients and providers — was behind the development of healow Pay™ which is the patient-facing portion of healow Payment Services.
How we make billing easier and less expensive
Once a practice signs up for healow Payment Services directly from the eClinicalWorks Practice Management system, they can send notifications to patients who have opted into electronic billing by providing their phone number or email address.
Patients who prefer to receive their medical statements through a text message or secure email can do so, and then pay those statements with a few clicks on their computer or smartphone. There’s no need to log in to the Patient Portal or remember a username and password.
The advantages for practices are clear:
- Electronic billing can save most of the costs of printing and mailing patient statements.
- Integration within healow and eClinicalWorks, including the use of Robotic Process Automation, helps with workflow efficiency since payments are automatically posted to the correct accounts.
- Giving patients a way to send payments electronically generally leads to being paid more quickly, thus lowering days in accounts receivable.
Remarkable growth in 2022
More and more medical practices are turning to healow Payment Services to improve the efficiency and effectiveness of their billing operations. A third of the nearly 950 practices using healow Payment Services have signed on in 2022, completing close to half-a-million transactions with a total value of $38.1 million.
“healow Pay is an obvious solution that practices should pursue because it’s convenient for the practice and the patient alike,” said David Uptagrafft, Chief Financial Officer and director of Healthcare Experience at Innova Primary Care, a healow Pay customer. “Especially from a billing collection standpoint, healow Pay has reduced our accounts receivable timeline from 41 to under 20 days, and we’ve seen a 54% increase in the amount collected per statement.”
In fact, once they started using healow Payment Services, Innova Primary Care, began collecting nearly 7% of all payments within 24 hours of sending out bills.
Using text campaigns for payment reminders
Since not every patient likes to pay their bills right away, even when given that opportunity,
healow Payment Services can also be used to send payment reminders. The text2pay notification campaign works with your practice’s billing cycle, sending automated communications that let patients know what they owe and that they can easily make a payment at healowpay.com.
“Healthcare is one of the few industries that still rely heavily on paper and manual billing processes,” said Girish Navani, CEO and cofounder of eClinicalWorks. “Digital payment tools like healow Payment Services are a huge opportunity for cost savings and increased patient satisfaction, and our customers are already experiencing success with our platform.”
Click here to learn more about healow Pay and how it can help your practice and your patients.