FULL SUITE OF FINANCIAL TREAMENTS
Today healthcare providers face many financial challenges due to the proliferation of high copay and high deductible insurance plans. Patients are now responsible for as much as 25% of their healthcare expenses. Self Pay After Insurance (SPAI) collection rates are historically low, leaving as much as 60% of what the patient owes uncollected.
Medical Payment Solutions offers a wide range of services to fit a wide range of practices. Whether you’re a small, local medical practice or a bustling hospital network, we can help you succeed. Get in touch with us today to learn more about our RAPTOR Technology and how Medical Payment Solutions can work for you.
Providing treatment plans for patient balances
MEDICAL PAYMENT SOLUTIONS
For most Medical Practices, collecting money owed by the patient can have a significant impact on the practice’s bottom line. Estimates are that 25% of a practice’s revenue comes directly from the patient. Of that 25%, many practices are leaving upwards of 40% uncollected. That equates to leaving between 6% to 8% of gross revenue uncollected. To further the problem, many Medical Practices waste time and money trying to collect from patients the old fashioned way – 2 statements, a phone call and a collection letter. That process is costly and ineffective. Medical Payment Solutions results prove patient balance revenue can be boosted by as much as 50% using our modern RAPTOR Technology to engage the patient earlier and more frequently. Medical practices’ can be confident that the most revenue is being collected in the most efficient and friendly manner.