PatientBond Patient Engagement PLATFORM
Financial

PatientBond motivates patients to pay their bills
PatientBond includes the following:

Patient 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.

Card on File Messaging
Alert patients about upcoming charges on stored credit cards to comply with required patient notifications. 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.

Pre-Auth/Co-Pay Notifications
Notify patients of pre-auth status and co-payments due. Included with payment reminders.

Explanation of Benefits
Educate patients about services covered and details of their insurance benefits.
Learn more about PatientBond Patient Engagement Platform for Financial



Maximize Payments
PatientBond’s automated patient 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
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Read the case study: Attracting More Patients and Improving Self-Pay Collections through Digital Relationships
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Read the case study: Using Digital Engagement and Automated Reminders to Maximize Patient Payment Collections
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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
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Read the case study: Increasing Patient Payment Efficiencies While Reducing Collections Costs
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Read the case study: Increase Patient Payments and Reduce Collection Costs by Using Digital Engagement
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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.
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View the video: Total Access Urgent Care Patient Payments & Receivables
