What Are Omnichannel Payments and Why Do They Matter to Healthcare?

The need for an omnichannel payments experience in healthcare is greater than ever before. Rising patient payment responsibility, mergers and acquisitions, and innovations in payment technology have all created new opportunities for healthcare providers to collect payments. Embracing an omnichannel approach to patient payments can positively impact a healthcare organization’s revenue, brand awareness and patient satisfaction scores. However, failure to implement omnichannel payments can have the opposite effect.

Here’s everything you need to know about omnichannel payments and why they matter

Tagged Compliance and Security, omnichannel payments, payment experience, reconciliation, reporting

How to Deliver a Consumer-Friendly Experience to All Stakeholders

The healthcare industry has been focused on understanding and adapting to the new impacts of healthcare consumerism, and for good reason; the Sixth Annual Trends in Healthcare Payments Report identified consumerism as one of the major trends impacting healthcare organizations today. In a separate blog post this month, InstaMed CTO and co-founder, Chris Seib, outlines some of the most critical consumer payment behaviors that affect healthcare providers today.

While healthcare organizations should continue improving the consumer experience, new processes should not

Tagged Compliance and Security, healthcare consumerism, healthcare payments, healthcare transactions, integrated healthcare payments, reconciliation, reporting, vendor integration

Going Electronic? How to Get Your Providers on Board

In 2020, 26% of surveyed healthcare payers said that more than half of their provider networks still don’t accept ERA/EFT (Trends in Healthcare Payments Annual Report). Despite the HHS operating rule on EFT standards which went into effect in 2014 and mandated that payers had to adopt ERA/EFT, 84% of surveyed healthcare providers indicated they continue to receive paper checks from one or more payers.

The sooner providers accept electronic payments, the more money payers and providers can save. So how can you

Tagged Administrative Costs, Best Practice, Compliance, ERA/EFT, healthcare payments, healthcare reform, payer-to-provider payments, payers, reconciliation, remittance

How to Keep Your Provider Network Happy

For a healthcare payer’s provider network, the process to get paid has always been a challenge. The steps providers take each day, from verifying eligibility and submitting claims, to receiving and reconciling payments, are filled with manual work, paper, errors and delays. As a result, the fragmented, time-consuming and often stressful process to collect payments is adding a lot of cost pressure on providers.

New healthcare reform mandates also put pressure on providers to find ways to get paid more efficiently.

Tagged Administrative Costs, Affordable Care Act, Best Practice, Eligibility, ERA/EFT, healthcare payments, healthcare reform, increase collections, patient estimation, payer-to-provider payments, payers, payment assurance, payment strategies, private cloud, providers, reconciliation, remittance

5 Reasons to Accept Online Patient Payments

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The rise of consumerism in healthcare is driving providers to evaluate how they approach healthcare payments. To collect more from patients and reduce administrative costs, providers need to offer more convenient, consumer-friendly options, such as online patient payments.

In today’s world consumers want ease and convenience in many aspects of their lives, including being able to pay their bills online. As more people turn to

Tagged Administrative Costs, Consumerism, healthcare payments, increase collections, online payments, patient bad debt, patient payments, patient responsibility, payment, payment assurance, practice management system, providers, reconciliation

Achieving Success with Integrated Healthcare Payments

Traditionally, the end-to-end healthcare payments process – from submitting claims to receiving, posting and reconciling payments – has been disjointed and manual, requiring a great deal of paper and leading to errors and delays in payment. However, as providers continue to feel pressure to reduce costs, leveraging integrated technology to streamline these processes is becoming increasingly important. Here’s Eastside Pediatrics’ story and the success they achieved with integrated healthcare payments:

A Series of Problems

Inefficient Claims and Remittance Management Processes

On an

Tagged Administrative Costs, Claim Status, Claims, Clearinghouse, ERA/EFT, healthcare payments, increase collections, patient payments, payment card, practice management system, private cloud, reconciliation, reporting

Blog Post Topic: reconciliation