06. 25. 21
Healthcare systems and practices are seeking fast, data-rich products and services, yet legacy core systems are often antiquated or multi-layered. These challenges are acute for practitioners and the patients they serve. It often falls to the provider to search and connect their organizations to the vast and growing digital ecosystem.
It helps to understand the need for more technological solutions within the healthcare industry, the benefits of embracing healthcare technology and how your organization can initiate patient payment automation technology. Learn more about the important role payment processing automation can play in bettering the healthcare industry.
Friction is widespread in the healthcare industry, and the continual hot topic of debate surrounds how to expand access and manage outrageous costs. Financial blockages and issues only add to the healthcare market’s woes, with billing inefficiencies taking up a portion of healthcare spending.
In addition to inefficiencies, medical billing must overcome these problems:
Payment processing systems and technology can address these pain points by granting practices quicker access to funds and providing more precise data collection of insurance coverage. It is imperative for the healthcare industry to embrace new technology for the sake of both its own operations and its patients.
Currently, the aim is to deliver a seamless experience to both the patient as the consumer and staff. It is remiss to only focus on the patient when the experience depends on both patient and staff. Patients and staff both leverage technology in their daily lives and want it to work for them in every possible area.
Making the transition from paper-based processes to payment automation technology comes with numerous advantages for both healthcare providers and their patients. Specifically, the top benefits of patient payment automation include:
Automation is at the forefront of expediting the healthcare transaction. From clean claim submission to treatment transparency, there is much to gain when the practice embraces automation in its workflow. Practice Management Bridge® by Rectangle Health aims to solve problematic workflows by merging disparate systems and uniting all points of payments. It provides payment processing tools for the practice to communicate patient responsibility clearly and accurately. It allows patients to pay anytime, anyhow, from anywhere and over time — from in-office point of care payments to SMS text billing.
Payments in the healthcare industry will continue to expand significantly in the coming years. We at Rectangle Health work exclusively with providers and create solutions that meet the needs of the business. We have focused our energy, attention and intellect on solving the problems we’ve heard from practices across every healthcare field and across the nation for over 25 years. Practice Management Bridge® by Rectangle Health serves over 60,000 providers by adding true value to their staff and patients.
You can find a wide variety of automated patient payment solutions available from Rectangle Health. From online payments and mobile payments to customizable messages and contactless payment options, our automated solutions are what your practice needs to operate more efficiently and effectively.
All of the technology available with Rectangle Health is built to decrease medical practices’ accounts receivable and ensure their financial stability by securing patient payments. In this way, Rectangle Health helps reduce the administrative burden on practices and makes the payment process stress-free for patients.
If you’re ready to get paid faster by patients, reduce your practice’s accounts receivables and alleviate the pressure on your office manager, contact Rectangle Health today about our automated patient payment solutions.
Rectangle Health securely stores healthcare payment information, protecting both your practice and patients with today’s highest standards for compliance and PCI.