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Back to School: 5 Lessons Learned in Healthcare Payments

As the back-to-school season approaches, students, parents, and educators are busy preparing for the new academic year. However, this time of transition offers valuable lessons for healthcare organizations as well. Just as students organize their schedules and gather supplies for school, healthcare providers are faced with the challenge of streamlining operations and ensuring a smooth payment process for patients.

In the following sections, you’ll discover five actionable lessons – each paired with practical strategies – that healthcare organizations can implement immediately.

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How to Guarantee Patient Payments When Deductibles Reset

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Let’s face it: Patients are frustrated by confusing and inconvenient healthcare payment experiences. They may not fully understand deductible resets or their healthcare plan’s policies. Here are tips to improve your conversations with patients about their financial responsibility.

Here are three kinds of conversations you can initiate to
change the payments relationship with patients after deductibles reset.

“What payment method would you like us to keep

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A Look Ahead at Healthcare Payment Innovations in 2017

At InstaMed, we’re proud of the innovations we delivered in 2016 that helped providers and payers collect and manage payments more efficiently and helped improve the consumer experience. At the start of a new year, we want to look at how the challenges facing providers, payers and consumers have changed or evolved, and how we can continue to improve and do more to answer the needs of our customers for simplifying healthcare payments.

Provider and payer organizations are becoming more complex

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Healthcare Payment Profile: Digital Wallet

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Many consumers use digital wallets to speed up the checkout process when buying online. Healthcare providers can use this same technology to streamline patient payments.

What is a digital wallet?

A digital wallet is an electronic device that allows a consumer to store payment information electronically so they can make a payment online.

Digital wallets make online payments easier by storing a consumer’s payment information and preferences

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The ABCs of Patient Payments: 4 Words to Add to Your Vocabulary

Earlier this month, many students brushed off their textbooks and headed back into the classroom for a new school year. Healthcare providers can take a cue from the academic calendar and use September to review their healthcare payments processes. This month, let’s focus more on the revenue cycle and talk about some terms that should be a part of your everyday patient payments vocabulary.

Omnichannel (adj.)

Def: A multichannel approach to payments that offers consumers a seamless experience whether they

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Embracing Digital Wallets, Tokenization and Apple Pay

In the first edition of our Security Corner, I explained some key terms and acronyms that frequently appear in discussions about healthcare payment security. I also had the opportunity to elaborate on those explanations at the InstaMed 2016 User Conference earlier this month. But those terms, while important, do not begin to cover the span of the payment security industry. Plus, new terms are popping into our vocabulary on a regular basis, as the payment industry continues to advance and

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