People prefer to pay their bills using simple and easy digital options such as text messaging. With CueSquared's MobilePay, 97% of patients say it is very easy to pay their bills.Improve Self-Pay Collections
There is no application to download, no portal to log into, and no paper statement to reference; patients simply and securely receive text statements and make payments through a 1-Touch Payment button. The branded logo signifies the bill is coming from the patient’s healthcare provider, not a third-party company. Additionally, contact information within the CueSquared payment screen leverages existing call center infrastructure instead of replacing it.
Say goodbye to AR buckets of 30, 60, or 90 days. Because of the intuitive payment experience, revenue cycle teams collect approximately 80% of dollars within 14 days of the first text message, with day one payments accounting for 30% of dollars on average. Patients will quickly pay outstanding balances that are small copays, large bills, and even aging balances of 120 days+ that would typically go to collections from the moment they receive their first text message. All of this can be measured and tracked in our actionable payment dashboard
By automating this first touch patient payment channel and reconciling outstanding balances within days, both printed paper statements and call center volume decreases. Additionally, patients with questions on their bills can easily contact the call center to settle bills with a live person or update their insurance information to properly adjudicate claims.
One reality of today’s healthcare field is that many hospital networks and other medical facilities are looking for ways to increase the percentage of bills they send out that actually get paid. Unlike other industries, hospitals often do not collect 100% of the money they are owed, and this can make it difficult for medical systems to make ends meet. Fortunately, today there are also more ways for hospitals to collect a greater proportion of the payments they are owed, often by simply making it easier for patients to pay their bills. This is where an SMS billing system, such as Direct MobilePay from CueSquared, can be helpful.
The reality is that a lot of people prefer to pay their bills using simple, easy online options such as SMS messaging. For example, by using SMS routing software, it is possible to send payment reminders via SMS messaging, or text. Healthcare facilities can benefit tremendously by considering options such as a payment reminder text message example. With such services, it is also possible for hospitals to offer their customers various types of value-added services. All of this can make it easier for hospitals to keep track of their bills and payment schedules while also making it easier for patients to actually pay them.
One of the most significant ways that CueSquared sets itself apart from other fintech companies is that this SMS billing system is incredibly easy to implement. Direct Mobilepay is not a full IT solution, and it will not require days or weeks to implement, just a matter of hours with staff already on hand!
Direct Mobilepay is also very easy for hospitals’ customers to use. This solution improves self-pay collections from patients by making it easier for them to pay their bills. When they have a bill that is due, the patient will receive a text reminder letting them know that there is an invoice. Then, patients can simply click on the link in that text message to open the invoice, and with another tap, patients can pay their bills and instantly get a receipt. All of this takes place on a safe, secure platform with full HIPAA compliance.
By reducing the amount of money that hospitals spend chasing after and collecting their payments, Direct Mobilepay enables hospitals to take care of the bottom line and keep the lights on without raising the cost of medical care or even having to hire entire departments dedicated to this one purpose. Having this more efficient option available can make a significant difference in the medical field, helping healthcare facilities move forward into the future.
Many hospitals today are looking for ways to reduce the amount of money they spend collecting on specific invoices. One of the major issues at play here is that a lot of the technology used by American healthcare systems is actually incredibly outdated. When US hospitals are using old technology that requires lots of IT support and manual labor, then it just follows that they will have a difficult time collecting their bills. Therefore, it is important for US hospitals in particular to take a closer look at how they manage their revenue cycles.
When people discuss “revenue cycle management,” it’s worth knowing that this term describes the strategy and processes that go into the cycle of billing customers to collection and confirmation of payment. This cycle, or RCM process, is how hospital billing teams try to collect payment for the various healthcare services provided
Right now, for instance, many hospitals and healthcare systems are actually still relying on paper statements. However, even though there are some people who may still pay their bills using cash or check, this is highly unusual. Most people prefer to pay their bills online or using other digital options, and many prefer SMS messaging. Therefore, the idea of people calling a hospital call center in order to make their payments is simply outdated. This can lead to a lot of customer frustration and reduce the percentage of hospital bills that are paid at all.
As a result, many patients would probably prefer to receive a message from a payment reminder SMS software. So if hospitals are able to take advantage of billing software with SMS alerts, they can simply send billing messages to their patients when payments and invoices are due. Then, by making it easier for patients to pay their bills through a text message link, it is possible for hospitals to increase the percentage of bills that get paid. Furthermore, this can also help hospitals reduce the money they spend trying to track down payments, while also increasing patient satisfaction because this process is so much quicker and easier. All of this can make a significant difference in a medical system’s bottom line and even ratings among current patients.
The idea of sending a billing text message may be new to some hospital systems. However, it’s worth knowing that with access to bill payment text messages, hospitals can make it easier for patients to pay their bills with a single touch. Here, it might also be helpful to take a look at sample text messages to customers. There are several features of Direct Mobilepay that every hospital system should understand they’ll be getting.
First, after the patient visits the facility, they will receive a text notification letting them know that a payment is due. This text message will contain a link that patients can simply tap to open, and this link will take them to a page that will clearly display the bill that is due. Patients will also see an option for One Touch payment, meaning that they can pay the bill here and immediately receive a notification that their invoice has been paid. They can even keep track of their own records, making it easy for everyone to be on the same page about what is going on. There is also a branded header that hospitals can customize to add their own logo or messaging, so that patients will always know exactly where the bill in question is coming from. The amount that is due will be displayed clearly in the middle of the screen, and patients will also have the option to set up a payment plan if they cannot afford to pay the entire bill with one click. There will also be detailed statement histories as well as a payment history that patients can look at to see when their last bill was paid. However, all of these additional services are optional, and patients can just use the One Touch payment option if that’s all they are interested in doing.
With Direct Mobilepay, the goal is to make the payment process as easy as possible. To this end, patients do not have to download an app in order to use this solution. In addition, patients also do not have to worry about creating an account or remembering a username or password.
So, by reducing the number of hurdles that patients have to jump through in order to pay their bills, it is possible for hospitals to increase the percentage of bills that get paid on time and in full. All of this is important for the future of the US healthcare system.
While it is sadly true that there are some people who are simply trying to duck out on their medical bills, it is also true that many do not pay their bills simply because the whole payment process is not convenient for them. Here, the idea of using a payment request SMS system, including a payment request text message, is that this option will make it easier for patients to remember to pay their bills and then do so easily. This is why a lot of healthcare systems have taken advantage of POS SMS notification options.
The idea behind the Direct Mobilepay from CueSquared is that this payment request system should significantly speed up the process of payment collections in healthcare. Hospital systems may be able to receive payments within an hour of sending a first text notification. Based on studies conducted by CueSquared, more than three-quarters (or 75%!) of all payments are received within six days of a text notification.
In other words, using an SMS billing system such as Direct Mobilepay can significantly increase the number of payments that hospitals receive on time and in full. The reality is that a lot of patients simply prefer to use digital options, such as a text message, to pay their bills in a quick, convenient manner. SMS billing in particular is easier for them to remember, they do not have to worry about logging in anywhere, and they do not have to worry about calling into some sort of center in order to pay their bills. This entire process, and the improved customer satisfaction and revenue that come with it, can make a significant difference for hospital systems.
When using a payment reminder SMS app, it is important to take a closer look at SMS gateway software. As we have already seen, using an SMS reminder app can make it easier for patients to pay their bills. In addition, this SMS gateway software is incredibly important when discussing SMS payment options.
An SMS gateway is a specific software program that enables computer systems to send and receive short messages over a cellular telephone network. While most people are used to sending and receiving text messages from their phones, it is also possible to handle text messages from a local computer system. Here, theSMS gateway software is responsible for converting the data into a format that can be read on both computers and mobile devices. As a result, it is possible for hospital systems to use this software program to send text message reminders from internal computers directly to patients’ phones.
Thus, if hospital systems set up a reminder system through the Direct Mobilepay software, they will make it easier for patients to pay their bills. Ultimately, this can also help hospitals balance their books, reduce the cost of healthcare, and reduce some of the inefficiencies that currently plague the US healthcare system.
Ultimately, it is important for hospitals to consider using a text message system to remind patients when they have a payment that is due. Fortunately, the Direct Mobilepay system from CueSquared is also automated, which can make it even easier for hospital systems to manage their revenue cycles and RCM processes. By taking advantage of a payment reminder SMS template, it is possible for hospitals to mirror a professional reminder text message sample. Then, when patients receive a pending payment SMS, they will have a much easier time paying their bills.
Likewise, if hospitals do not have to worry about chasing down every patient for payment, then their administrators can spend time focusing on other areas. Therefore, hospital systems should consider taking advantage of this system because it uses a template that works for payment collections in healthcare, saving everyone involved a great deal of time and hassle.
There are numerous medical systems today that are looking into ways of increasing the percentage of payments that get paid on time. By offering patients automated reminders and the option to pay their bills using an SMS message, hospital systems may be able to improve the bottom line by balancing the books. This is also a system that will only become more popular in the future.