“A group of health IT leaders walk into a bar…”
It sounds like the beginning of a bad joke. Lucky for us, last week at an InstaMed-hosted cocktail hour in Madison, Wisconsin, it was the beginning of great conversations about patient payments.
After the excitement of a full day at Epic XGM, members of the InstaMed team gathered at Graft and welcomed leaders in the Health IT community to enjoy a drink and discuss the topics that are top-of-mind for Epic users across the country. It was great to meet with both existing customers and new healthcare organizations on Epic to pick their brains about healthcare payments. Here’s what we learned:
Patient Payment Integration Is Key to Increasing Revenue
As patient payment responsibility continues to increase, healthcare organizations need to find ways to maximize their collection efforts to collect more. A great first step to better collections is to integrate payment into your existing workflow. During our cocktail hour, we talked about what healthcare organizations expect from payment integration and the benefits of InstaMed patient payment integration with Epic, including support for all payment channels and automated, real-time posting and reconciliation into Epic — which ultimately leads to increased revenue.
Check out our case study to see how Epic customer Rockford Memorial Hospital increased online payment transactions by 143% in four months with InstaMed.
Reducing PCI Scope Is a Game-Changer
You can’t have a conversation about payment security with our Security Officer Noah Dermer without talking about PCI — especially at a cocktail hour with other Health IT leaders. That’s because reducing PCI scope with InstaMed is easy; InstaMed has the lowest PCI footprint with Epic. By embedding the InstaMed Patient Portal into Epic MyChart, you can reduce your PCI scope for online payments from 334 items to 15 items. The consensus among the group at our cocktail hour? That’s a game-changer.
Patients Want to Pay Any Way — Including Credit Card, Cash and eCheck
Throughout the night, we heard a lot about the shift to consumerism in healthcare. Consumers have certain payment expectations set by other industries and they are accustomed to new and convenient technologies that let them pay for anything, whenever and however they want. We talked to many Epic users about the importance of offering multiple payment options for patients, and how this not only delivers a better consumer experience, but improves patient payment collections, too.
Learn more about InstaMed Patient Payment integration with Epic.