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Radiology Payment Processing

Radiology Payment Processing

Radiology is one of the most complex medical specialties. It can also be one of the most difficult in terms of billing and patient collections. Radiology groups are under increased pressure to move through patient rosters quickly – which can result in documentation omissions. Unfortunately, consistent documentation gaps can, in turn, lead to under-coding that results in lower reimbursement. Radiology organizations need efficient and effective payment solutions to keep revenue flowing, especially in situations where billing resources are stretched to the limit – every penny counts when your collections are under pressure.

Because of the unique needs of radiology practices, we recommend they consider the latest technology in payment processing for radiology practices such as payment plans with credit-card-on-file, email and text reminders about upcoming payment due dates, and text-to-pay.

For many organizations, patient payments are one of their most significant revenue streams. When considering the average price ranges of radiology procedures, it is easy to understand why some patients may opt out of receiving a scan or treatment.

Average pricing according to Two Views:

  • CT scans: $270 – $4,800

  • Mammograms: $23 – $1,929

  • MRI scans: $200 – $13,000

  • Ultrasounds: $200 – $4,000

  • X-rays: $100 – $1,000

Benefits

Convenient and flexible options can make or break overall patient payment collections ratios, which greatly impacts the financial health of a group or health system. And, convenient and affordable choices may encourage patients to get the tests and procedures they need.

Radiology patient payment solutions need to work efficiently with practice management systems to keep patient account receivables in check. They require the flexibility of taking patient payments at time-of-service, online and via text, and greatly benefit when they offer patients payment plan options.

Practice Management Bridge

Our proprietary Practice Management Bridge® creates more consistent radiology patient payments, resulting in increased payment processing efficiency and stable cash flow. Rectangle Health integrates with any practice management system and our functionality is an attribute no other enterprise can match in size or scale. Additionally, working with our integrated system allows you to track, manage, report and reconcile payment information across your organization.

The latest payment technology for radiology patient payments can go a long way to help an organization’s overall collections. However, there are also practices and procedures successful radiology groups can employ to keep their revenue cycle moving and increase cash flow.

Some Strategies Include:

“We are an extremely busy optometric practice, and we are always very conscious of business costs.  We use a practice management software and couldn’t believe we could start updating payment directly into the patient ledger and securely keep patients credit card information on file.”

-Optometry Group, Bay Area

“We’re writing to show our appreciation for Rectangle Health.  Initially, I doubted some of the features that were promised, but you guys delivered.  The web payments and payment plans are easy. The ease of email receipts and vaulting cards are great for our Billing Department.  I would recommend any colleagues use your system without reservation.”

-OB/GYN Office, Grapevine Texas

“We have been very satisfied with the degree of customer service and professionalism we have received in the process of switching from our previous processing company to Rectangle Health.”

-Practice Manager, ENT & Audiology, Southlake Texas

“I had been told by many companies that they could integrate into our software, but once they came out and met with me, I could see they really could not do what they said…. Rectangle Health could not only seamlessly integrate with my software as they stated, but they could offer substantial savings each month.”

-Dental Office Manager, Southlake Texas

“We have been a Rectangle Health client for over 3 years now and we’re pleased to say they lived up to their word; from saving us hundreds of dollars in overall monthly fees to even going so far as to customize their online Practice Management Bridge for a special feature we requested.”

-Retina Consultant, Connecticut

“I would like to compliment Rectangle Health.  The customer service has been top notch and your representative is always quick to return our calls.  The payment software is great and has made collecting form our patients so easy.  We would recommend any medical practice to use Rectangle Health!”

-Chiropractic & Acupuncture, Denver, Colorado

“Since we started to use the program, we have had an immediate and noticeable improvement in patient payment at the time of treatment.  Transitioning to Practice Management Bridge has alleviated hours of extraneous work that was unavoidable with our previous retail terminal.  In addition to the invaluable improvements in our practice management, Rectangle Health has saved us money by lowering our processing rate.”

-Office Manager, Cosmetic Dentistry, Solana Beach, California

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