PatientBond Platform for Finance | Motivate Patient Payments

PatientBond motivates patients to pay their bills

The PatientBond Patient Engagement Platform uses psychographic messaging to motivate patients to pay their bills quickly. Healthcare organizations can send the right message at the right time to drive patient response. resulting in increased payment collections with significant savings in people, paper and postage costs.

PatientBond includes the following:

Payment Reminders

Automatically trigger segmented payment reminders to responsible party over text/SMS, email and/or Interactive Voice Response call based on invoice age, date of visit or collection amount. Include link to online payment portal or connect patients with billing staff in real time (through 2-way text messaging or live call transfers) to address patient questions on invoices. Reduce manual labor on outbound calls and accelerate speed and amount of collections.

Digital Statements

Securely deliver patient invoices/statements through any digital channel to significantly reduce statement printing and mailing costs. Schedule multiple digital statement deliveries for unpaid invoices. Track statement open/clickthrough rates. Link directly to online payment portal from digital statements. Included with payment reminders.

Online Payments

Secure web/app/widget to collect payments online through integration with a payment gateway or Stripe. Intuitive patient digital financial experience with visit & billing details to speed up collections. Pay in full or payment plan options. Store credit card information on payment gateway for future use.

Early Out Messaging

Keep patients informed about their estimated cost of care early in the process. Send updates on insurance claims related to the visit. Included with patient payment reminders.

Learn more about PatientBond Patient Engagement Platform for Financial

Maximize Payments

PatientBond’s automated payment reminders, written with psychographic insights to motivate response, promote prompt payment of outstanding patient responsibility balances.

• 4x increase in patient payments within 10 days of “Go Live”
• 61% increase in patients making payments
• 14-24% increase in bad debt (over 120 days due) balances collected
• 5x ROI by month 2 of deployment

Read the case study: Attracting More Patients and Improving Self-Pay Collections through Digital Relationships
Read the case study: Using Digital Engagement and Automated Reminders to Maximize Patient Payment Collections
View the webinar: Using Consumer Science to Amplify Patient Payment Collections and Bad Debt Collections in the Digital Age

Cost Savings

Following up on patient collections with manual phone calls is resource intensive, paper statements are costly, and third-party collections agencies take a chunk of recovered payments. PatientBond’s automated payment reminder software platform drives significant savings.

• 24% reduction in statement volume
• >50% reduction in statement and postage costs
• 2-3 hours/day/clinic reduction in staff follow-up

Read the case study: Increasing Patient Payment Efficiencies While Reducing Collections Costs
Read the case study: Increase Patient Payments and Reduce Collection Costs by Using Digital Engagement

View the webinar: Using Digital Channels to Enhance Patient Relationships and Drive Significant Revenue & Cash Flow

Improve Patient Payments & Receivables

PatientBond assisted a chain of 19+ urgent care centers to improve their patient collections. Run by Dr. Troy Dinkel, Chief Operating Officer of Total Access Urgent Care (TAUC) in St. Louis, Missouri, TAUC recognized that sending multiple printed statements through the mail is inefficient and wasteful. An automated process introduced by PatientBond increased collections 4X and reduced costs of engagement, resulting in a high Return on Investment.

View the video: Total Access Urgent Care Patient Payments & Receivables

PatientBond Patient Engagement PLATFORM