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

What the New EFT Regulations Mean for You

Guest Blogger: Bill Marvin, President & CEO, InstaMed

In an earlier post, I commented on the HHS interim final rule adopting electronic funds transfer (EFT) standards, which was released in January 2012. In the post, I outlined the following changes needed in order for the new EFT regulations to truly improve efficiency and deliver cost savings for healthcare payers and their provider networks:

1. Add a Trace Number Requirement

The rule should require that the EFT and the electronic remittance advice (ERA) have

Tagged Administrative Costs, Affordable Care Act, Best Practice, CAQH, Compliance, CORE, ERA/EFT, healthcare payments, healthcare reform, Medical Loss Ratio, patient responsibility, payer-to-provider payments, payers, providers, reconciliation, remittance, reporting

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

Choosing the Right Clearinghouse: 5 Essential Qualities

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In the healthcare industry, the clearinghouse you work with has a huge impact on your business. The more efficiently your clearinghouse processes and returns your information, the faster you will get paid, and the more payments you will collect.

To gain insight into what providers need from a clearinghouse, we interviewed Kevin Milam, owner of The Billing Center, which does billing, consulting and accrediting for

Tagged Billing, Claim Status, Claims, Clearinghouse, Compliance, EHNAC, healthcare payments, increase collections, InstaMed Network, payer-to-provider payments, payment, payment assurance, private cloud, providers, reconciliation, remittance, reporting

Blog Post Topic: reporting

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

How to Deliver a Consumer-Friendly Experience to All Stakeholders

What the New EFT Regulations Mean for You

Achieving Success with Integrated Healthcare Payments

Choosing the Right Clearinghouse: 5 Essential Qualities