Rising co-pays and high deductibles are making patients responsible for a larger portion of your revenue stream. The collection of these self-pay balances is a priority to help reduce A/R days and increase cash flow.
RelayAccount helps hospitals and health systems to collect patient payments at every point of service, and provides patients with easy-to-use, online access to their accounts to make payments 24/7. By offering secure online access to account information, you can help increase patient satisfaction and promote faster collections. Moving to online billing helps reduce operational and postage costs, while also supporting increased patient engagement.
Engaging patients as early in the revenue cycle as possible helps increase collections and satisfaction. With RelayAccount WebPay, you can collect estimated amounts at pre-service and then process payments at every point of service anywhere in your facility. You can also assist patients with paying over time, paying later with a scheduled payment, or paying when the bill is ready (electronically paying the estimated amount after insurance has paid.) Patients can also access their account online to see amounts already paid by insurance and out-of-pocket, verify recurring payments, and enjoy the convenience of paying outstanding balances anytime, anywhere.
RelayAccount helps you avoid lost bills, confusion, and questions that delay payment by consolidating billing (hospital, physician, medical group, lab, etc.) and merging information from multiple family members under one guarantor.
All payments collected via RelayAccount can be posted directly to your patient accounting system, including McKesson and third party systems, so you can help eliminate time-consuming manual posting. Our solution captures multiple account payments for a single guarantor.
Help reduce calls and eliminate delays waiting for a billing representative by empowering your patients to access your online business office through RelayAccount. Patients can review your financial assistance and payment policies, obtain contact information, send questions to your staff, and pay their bills via credit card or eCheck — all without calling your office.
RelayAccount solutions present your patients with secure online access to consolidated billing information. Your patients receive easy-to-understand account information to help increase your self-pay collections. It also supports your interactive strategy to shift from paper statements to online billing and payments, which can aid in reducing operational and collections costs.
Gwinnett Medical Center’s payment portal has resulted in a 40% online payment rate, with payments from insured and self-pay patients increasing by $1 million in the last two years. Read this article in HFMA’s Patient Friendly Billing eBulletin to get the full story.
Patient Financial Portal