CarePayment, a patient financing provider, has expanded its point-of-service features and tools to help providers capture greater patient self-pay collection rates.
Collections more than double when patients are offered CarePayment's 0 percent APR payment programs early in the revenue cycle when compared to collection rates from in-house payment plans, according to the report.
CarePayment created a web-based tool for early activation, which allows front-line staff members to immediately verify patient identity. The tool also generates a letter informing the patient of the financing program with a customized estimated balance and minimum payment information.
More Articles on Coding and Billing:
4 Questions to Ask Before Purchasing an EHR
3 Things to Know About ICD-10 Dual Coding
2 Tips for EHR Implementation at ASCs
Collections more than double when patients are offered CarePayment's 0 percent APR payment programs early in the revenue cycle when compared to collection rates from in-house payment plans, according to the report.
CarePayment created a web-based tool for early activation, which allows front-line staff members to immediately verify patient identity. The tool also generates a letter informing the patient of the financing program with a customized estimated balance and minimum payment information.
More Articles on Coding and Billing:
4 Questions to Ask Before Purchasing an EHR
3 Things to Know About ICD-10 Dual Coding
2 Tips for EHR Implementation at ASCs