News

Payment tools help medical facilities collect debts

September 6, 2011

Phreesia, a patient check-in company, has expanded its payment services suite with the Phreesia SmartPay Package — a set of tools that helps medical practices maximize cash flow both inside and outside of the office.

Recent studies show that 30 percent of patients leave their clinician's office without making any payment, and in the 2010 fiscal year, practices reported writing off an average of 11.3 percent of total accounts receivable. However, reports also indicate that patients are more willing to make payments if they have flexible options; Phreesia SmartPay provides those options to practices, with Payment Plans, Online Payments and Card on File, according to Phreesia CEO Chaim Indig.

With Payment Plans, practices can offer patients the opportunity to split large balances into manageable monthly payments. Payment plans are offered to patients directly on the wireless, self-service check-in kiosk, the PhreesiaPad, which replaces traditional clipboards in doctors' offices. Practices can customize plan offerings, allowing patients with large balances to choose the payment amount and frequency that makes sense for their budgets. The solution also automates the administrative processes involved in managing traditional payment plans, allowing practices to get paid in full and on time.

Used by thousands of medical practices nationwide, Phreesia automates the patient check-in process. Patients use the PhreesiaPad to enter their demographic, insurance and clinical information, as well as to pay their copayments and balances.

"Two years ago, we built our core payment application to eliminate the challenges practices faced with collecting payments, including calculating copays and asking patients to pay upfront at each visit," Indig said. "With the Phreesia SmartPay Package, we're empowering practices to break down the physical barriers of the office and collect payments anytime, anywhere. We're also providing patients with the convenience and security to pay from home or their mobile device. This flexibility creates more opportunities for practices to maximize their cash flow, and get paid in full and on time."

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