As a consumer of healthcare, you’ve probably had your fair share of doctor visits throughout the years. Within a few weeks of the visit, the bill typically arrives in the mail – often a modest amount ranging between $40 to $200, sometimes more. While you’re probably willing to pay, you’ve likely found the payment experience amidst your busy schedule to be time consuming and not straightforward.
Despite significant advancements in digital payment experiences across many industries over the last several years, medical practices and their billing partners still send out paper statements that require patients to write checks and put stamps on envelopes to pay their bill. Some statements include an online billpay option, but the registration and checkout process is often complicated and difficult to use.
With several doctors in the family, we had insight into the challenges of patient responsibility billing for practices too. Practices typically send statements for 3 to 4 months to eventually collect 70-80% of what’s owed. This antiquated process squanders countless hours and incurs significant costs on paper, postage, and handling – resources better spent elsewhere. Outdated software, limited IT resources, and the complexities of HIPAA impede progress, causing most practices to stick with the status quo.
That’s why we created Balance. With Balance, practicioners and their billing company partners can get started sending out digital patient responsibility bills en masse in minutes, translating to faster payments and higher collection rates. Patient follow-ups are automated and all payments are instantly captured, trackable in an analytics dashboard, and easily reconciled with EHR and Practice Management systems. For patients, paying with Balance is as straightforward and quick as booking a ride with Uber, making it easy to check medical bills off your to-do list before they become delinquent and a nuisance.
It’s simple to give Balance a try. Check it out to see how it helps your practice collect faster and more efficiently while providing your patients with a modern payment experience that they’ll appreciate.
