The HealthCare Payment Solutions benefits

  • Makes care affordable for all: With our extended payment option, virtually every person that comes into a doctor’s office will be able to afford the care they want and need. And we do it without a credit check. The only thing a patient needs is a checking account, savings account, or a credit/debit card.
  • Allows patients and doctors to choose the right treatment: Because of the economy, doctors are often forced to prescribe treatments based on a patient’s insurance benefits or what the patient can afford to pay out-of-pocket and not based on what the patient really needs. Thus, the growing “quick fix” trend in healthcare. This means that dentists have to pull teeth and veterinarians have to put pets to sleep (“financial euthanasia”) rather than being able to provide other, sometimes far better but more expensive treatment options. With HealthCare Payment Solutions (HPS), doctors can provide the best care possible and patients and pet owners can pay for it over time.
  • The doctor’s office approves the payment plan: The office sets the policy on the terms of the plan including minimums for down and recurring payments.
  • Affordable/flexible payment options: The office staff work with patients to determine payments they can afford. When care is affordable, patients choose to receive what they want and need.
  • HPS collects the money, not the office: This is a very important benefit in every office we work with. One of the biggest burdens on the doctor-patient relationship is finances. With our program, the doctor and office staff don’t have to worry about collecting money from patients. The office can focus on getting patients well, not hounding them for payments. This not only reduces overhead by eliminating internal collection actions but also improves relationships with patients and increases revenues and profit.
  • Recurring Revenue: Recurring revenue is a steady, predictable stream of income. It creates financial stability. We have offices collecting $30,000 more per month than they were prior to using our program. As monthly recurring revenue increases, financial stress decreases. Offices have recurring expenses. Why not offset these expenses with recurring income? And much of the recurring income generated is from patients who would not have been able to get care without our program. Even insured patients often cannot pay for their deductibles and co-payments. By giving insured patients a way to pay their out-of-pocket expenses, offices not only collect additional income from these patients but also collect additional reimbursements as well.
  • Determining eligibility and benefits for insured patients: Determining patient liability is a difficult and time-consuming process. It can take thirty minutes or more to determine eligibility and benefits. HealthCare Payment Solutions automates this process by acquiring eligibility and benefit information from online insurance clearinghouses.
  • Collecting post-insurance adjudication balances: After an insurance company adjudicates a claim, there is often a balance owed to the doctor by the patient. The office has the challenge of collecting this balance, often at great expense and with little success. The national average is about eight dollars per statement sent out by an office and only about 50% of these balances are collected. With our system, the patient signs a legally binding agreement with us stating that they agree to pay any post-insurance adjudication balance owed to the doctor. After the claim is adjudicated, our system adds this amount to the total owed by the patient. This eliminates the need for statement billing and results in collecting 95% of post-insurance balances.