Optimize patient payments using Mobile Payment Platforms

Hospitals and private practices alike need to optimize the use of all payment types—including the introduction of payments made via the Web, at the point of sale (POS) and via mobile platforms—that are faster and cheaper for patients than mailing payments. Successful organizations should strive for comprehensive goals, such as making all payment outlets, payment types and tender types available at any time for any account, including one-time or recurring payments, payment plans and patient financing.

Read Previous Article: Why Focus on Patient Payment Optimization?

Mobile Payments

Why dig deeply into mobile payments? Mobile payments are fast becoming more common, and your largest demographic of patients with high patient responsibility and HDHPs will likely be looking to pay via mobile channels.

Why “Responsive Web” Is a Requirement

Websites need to render on all devices: desktop computers, tablets, phones, kiosks, etc.
The billing modules on websites and patient portals need to render on all devices in a patient-friendly format.

Mobile Payment Types

  • Payments via mobile websites and patient portals, including:
  • Tokenization (the substitution of data with a token, or a unique ID)
  • eBills sent either directly or via online banking portals
  • Payments made by email or via text messaging
  • Payments built into mobile apps (e.g., patient portal apps), which can include payment plans and patient financing

“If younger HDHP patients don’t have the payment outlets and methods that they want, or if providers don’t offer payment plans or patient financing for customers with high balances, financial performance will likely suffer.”

Meet the payment needs of “patients as customers.” Customer satisfaction is not just an indication of clinical outcomes and success; it also reflects satisfaction with the business side of healthcare, from pricing and billing to collections and payment processing. If younger HDHP patients don’t have the payment outlets and methods that they want, or if providers don’t offer payment plans or patient financing for customers with high balances, financial performance will likely suffer.