anodynePay: Your Solution to Simplified Patient Billing
Learn how Patient Billing & Collections works to smoothen your patient’s financial journey
“90% of patients believe that the billing and payment experience quality factors in their satisfaction level.”
Patient Billing and collection play a major role in creating an excellent patient experience. With the help of technology, healthcare providers can make a huge difference in creating this patient experience. One way to execute this is by improving the patient collection process with patient first billing customer service. Some organizations need a third-party resource to start their patient collection methods, and here is where AnodynePay plays a huge role for your organization.
This guide covers AnodynePay’s Patient Billing & Collection, the process, the features, provider benefits, and much more. It also gives immense information on enriching your patient’s experience.
Keep reading to learn more, or feel free to jump to chapters ahead with the links provided below
What is Billing & Collection
Challenges of Patient Billing & Collection
AnodynePay - Solutions
AnodynePay Patient Portal
AnodynePay Text Reminder and IVR Calls
AnodynePay Patient E-statements
What is Patient Billing and Collection
Patient billing and collections are an important part of healthcare RCM. It involves managing transactions, insurance billing services, overseeing payment delays, contacting patients for their dues, and more. Healthcare providers need to have a robust process and know how to use modern technologies to collect payments from patients on time.
With AnodynePay Patient Billing & Collection, healthcare organizations can streamline their collections and reduce the time spent on patient statements by 92%. Moreover, our solutions are seamlessly integrated with your existing EHR/Billing system, eliminating the need for additional IT infrastructure.
Challenges of Patient Billing & Collection
While most organizations manage the billing and collection process with expertise, many challenges are associated with the procedure.
Payment Delay:
77% of healthcare providers say collecting patient payments takes more than 30 days. AnodynePay helps healthcare providers process their payments, which allows them to receive on-time payments.
Staffing:
Due to the complex nature of the patient first billing system, finding the right staff for a long-term commitment can be time-consuming and cost-exhausting. 20% of providers hired more staff than needed for vital roles with a high turnover.
EHR Integration:
Integrating electronic health records (EHRs) for medical insurance billing can be challenging for healthcare organizations as they contain records of all patients. Additionally, healthcare organizations must ensure their EHR systems are secure and meet the latest regulatory requirements.
Poor Patient Experience:
Healthcare organizations must ensure excellent customer service with patient first billing and create a welcoming patient environment. Failure to provide a positive patient experience results in patient dissatisfaction, negative reviews, and a decline in revenue.
AnodynePay: Your Key to Revenue Optimization by 60%
AnodynePay has developed touchpoints that help healthcare providers understand, engage, and provide better patient services for healthcare billing services.
Cut Costs and Time
With AnodynePay, you can reduce the cost and time required to send patient statements by 92%, which in turn reduces accounts receivable, increases cash flow, and writes off patient debt.
Significant Reduction in FTEs
With AnodynePay, companies can significantly reduce FTEs up to 10% as they can effortlessly send patient statements online.
Increased ROI Collection
With AnodynePay analytics, you can improve your HealthCare’s revenue cycle within two months, boosting your ROI collection.
Clear Communication
When patient statements are processed efficiently, the staff can provide accurate information about their healthcare billing services, improving transparency and patient experience.
Patient Retention
Patient retention is an all-time high-priority task for healthcare providers. AnodynePay offers patient engagement tools like text/IVR reminders, personalized messages, and digitized patient portals to retain and engage patients.
Multiple Payment Options
We offer multiple payment options, including credit/debit cards, Autopay, Recurring Pay, QuickPay, Card of File, etc. Practices can adopt these numerous payment options for all patients to pay their dues and maintain a constant revenue flow.
Automated Payment Reminders
Providers need not worry about payment delays as AnodynePay sends out Automated text/ Interactive voice response reminders, 24/7, without hindering the patient’s work schedule, allowing them to pay at their convenience.
Digitized and Scaled up Payment Acceptance
AnodynePay digitized patient portal allows payments from an 8/5 to a 24/7 process. Patients could pay anytime at their convenience from their computer or phone.
AnodynePay Solutions: Your Ultimate Billing and Collection Simplified
Healthcare organizations must adequately plan patient billing and collections before they begin treatment. Here is how AnodynePay will aid you in getting patient collection faster without any complications.
AnodynePay provides solutions that enhance patient engagement, strengthen revenue flow, and enrich the patient’s experience.
AnodynePay Patient Portal: Enhance Patient Experience by 85%
AnodynePay’s patient portal is an advanced yet accessible mode of convenience to provide the best patient experience for any form of patient first billing customer service.
Elevate Patient Engagement by 85% with these benefits:
Instant & On-Time payments
AnodynePay offers a patient portal that addresses several pain points of traditional payment collection methods in the healthcare industry. One of the primary benefits is the ability to receive instant and on-time payments. AnodynePay’s patient portal offers multiple secure payment options, such as credit and debit cards, online wallets, and Internet banking, which can help alleviate these issues.
Cost & Time-saving
Traditional payment collection methods require a lot of paperwork and manual labor, which can be costly and time-consuming. AnodynePay’s patient portal simplifies the healthcare billing payment process and reduces the need for additional resources.
Increased Patient Satisfaction
Patients can access their doctor’s billing information anytime, anywhere, and pay their bills via multiple payment options. This convenience can help improve patient satisfaction and loyalty.
Enhanced User Experience
The portal provides flexibility and support for patients, resulting in high patient satisfaction and retention rates. Overall, AnodynePay’s patient portal provides a comprehensive patient financial service and billing solution for healthcare companies.
Receive more than 90% of payments immediately
Text Reminder & IVR Calls - Your Ultimate Reminder for Timely Payments!
Providers must regularly remind patients about their payments and appointment dates to minimize uncertainty and losses. However, developing an in-house reminder system can take time and effort. To address this issue, healthcare providers can leverage the right technology to keep it in check.
Revenue Boost by 75% with AnodynePay payment reminders
Multiple Channels Reminder
Communication with patients in their preferred manner is crucial to enhance the likelihood of timely payments. AnodynePay offers multiple communication channels, such as emails, text messages, and IVRs (interactive voice responses), enabling healthcare providers to send payment reminders to patients through their desired medium.
Improve patient satisfaction
Patients are often busy and may miss phone calls for payment collection. However, modern-day technology allows healthcare providers to communicate through more conventional channels like email reminders and texts. IVR and text reminders from AnodynePay foster improved patient satisfaction.
Cost reduction
Automated IVR calls and texts are user-friendly. It helps to build a better communication channel for personalized reminders that suit patient schedules. Healthcare providers can reduce costs by improving the quality and frequency of payment reminders without hiring additional resources.
Increased Payment Collection
Well-executed reminders can significantly increase timely payments, providing healthcare providers better ROI. Healthcare providers can now get a better return on investment by leveraging IVR and text reminders to maintain their revenue cycle.
AnodynePay Text Reminders improve patient engagement, elevate patient satisfaction, reduce costs, and maintain a healthy payment system for Healthcare organizations.
Want to Optimize Your Billing Process by 95%?
AnodynePay offers an automated appointment reminder to assist medical practices in their medical insurance billing.
Patient E-Statements – Digitize & Automate Patient Statements by 92%
"90% of consumers pay their recurring bills online, and 75% say they want to enroll in E-Statements.”
AnodynePay offers patient e-statements to streamline the healthcare billing service and reduce overhead costs. Practice can increase patient engagement by enriching their experience. With AnodynePay’s expertly handcrafted tool, practices can enhance patient statement services and collect payments faster.
Increase Cash Flow by 92% with AnodynePay Patient e-statements
No Patient statement backlogs
Patients are more likely to pay their bills on time when patient statements are sent out on time. Furthermore, reducing the backlog of patient statements can reduce the administrative burden on staff, allowing them to focus on other important patient care tasks.
Transform & Revolutionize
AnodynePay aims to modernize patient statement delivery with improved technology. Patient e-statements boost collection rates and reduce manual labor & costs with electronic mail reminders.
Increase Collections and Cash Flow
E-statements and one-click payment options improve customer satisfaction through the digital shift. Transparency and promptness in e-statements appeal to patients, boosting payment collection rates.
Cost and Time Saving
Switching to paperless billing and statements can save healthcare organizations over 60%. AnodynePay eliminates the costs of printing and mailing formal checks and saves time responding to lost bill requests.
With AnodynePay, practices have benefited by more than 90% resulting in high satisfaction and faster collections
Join the league now by learning more about AnodynePay Patient Statements AnodynePay Patient Statements
Customize Patient Experience for Effortless Billing!
Practices have many options with digitization and customization to smoother their patient’s financial communication. You can now send customized patient statements to all your patients and increase your healthcare collection rate with patient first billing.
Read Case Study
AnodynePay Billing & Collection brings simplicity and ease to the lives of patients and practices. We personalize all the patient services for practices to focus entirely on their treatment. Switch to AnodynePay, and you can create excellent patient experience, resulting in faster balance collections and long-term retention.
