The healthcare industry today has become much more consumer-driven, and this fact can be seen clearly in how patients feel about paying their medical bills. Obviously, patients have a higher responsibility for the cost of their healthcare than ever before due to high deductible plans, and this relates to them searching for the best value in a provider. But then when they receive their bill, patients want to continue the consumer process. They want to pay their bills just as conveniently as they can make other purchases. This is where MobilePay™ comes in.
What is MobilePay™ and why is it Important?
MobilePay™ is simply the ability to receive bills and make payments directly through your cell phone via SMS text messages. This method of billing and patient payment is important because it’s directly in line with the consumerism that is currently defining the healthcare industry. Patients now view their healthcare much the same as they do any other service they would need; they look for the best value and most convenient option. MobilePay™ provides this much-desired convenience in a very important area of billing. Plain and simple, healthcare finance needs all the help it can get. Patients are more responsible for a greater amount of their healthcare costs than ever, but few of them can afford it. Those who can afford to pay their bills want to do so in a way that requires a minimal time investment. When you allow your patients to pay their medical bills as easily as they would order a book online, you have a much greater chance of receiving those payments. Mobile pay is simply the ability to receive bills and make payments directly through your cell phone via SMS text messages.
And, let’s face it — technology is here to stay and its influence is growing. It’s not really a matter anymore of if you’ll need to embrace new technology such as mobile pay in your practice, but more of when you’ll get on board. Rather than fighting what’s happening in the industry, it’s better to get on board and leverage this technology to increase your patients’ satisfaction level with your practice now.
How does MobilePay™ benefit Patients?
MobilePay™ benefits patients by considering their busy lifestyles and making it more convenient for them to pay their medical bills. The reality is that we’re a busy society and that most of us, for better or worse, have our phones with us nearly every moment of the day. While it seems silly that needing to write and mail a check would dissuade a patient from paying their bill, many people today just aren’t used to having to do such things. We have bill pay through our online banking and the ability to pay for most anything else online. Writing checks is an outmoded concept. By billing and collecting your patient payments through their mobile device, you’re considering your patients’ lifestyle and meeting them where they are.
How does MobilePay™ benefit Providers?
When patients can pay their bills conveniently, they’re more likely to do so in a more timely manner. This results in improved cash flow for your practice. Additionally, printing and mailing statements to your patients can be a costly endeavor between supplies, postage, and labor costs. MobilePay™ eases those fees meaning that when your patients pay you, those payments carry more value.
As we become a more technology-dependent society and as patients view healthcare in a more consumerist way, we must keep up with expectations. One very important way to do this is by providing efficient, convenient ways for our patients to pay their medical bills. One such way to do that is through MobilePay. Henry Schein SolutionsHub can get you going with CueSquared MobilePay™. CueSquared MobilePay™ changes the expectations of patient self-pay billing by accessing patients where they live — on their mobile phones. By transforming patient statement data into actionable SMS text-based statements, CueSquared increases patients revenue accelerates payments and reduces costs to collect.
Are you ready to get started?
Visit henryscheinsolutionshub.com or call 833-433-2482 for more information.