Emdeon Patient Pay Online can help you join the online bill pay boom
Online bill payment is transitioning from a luxury to an indispensable tool that consumers appreciate, and in many cases, expect. This trend was confirmed by a 2008 survey conducted by CheckFree and Harris Interactive which found, "an estimated 63.1 million households or three-fourth of those online, are paying their bills online rather than writing paper checks."
The Harris Interactive survey also found a few more consumer tendencies that may surprise you.
Online bill payments continued to outpace check bill payments for the second consecutive year. Online bill payments made at both bank and biller websites rose to 42 percent of the total volume of household bill payments made each month, up from 39 percent in the 2007 survey. Online bill payment adoption has significantly grown since the 2002 survey, when only 14 percent reported paying their bills online.
Check payments among survey respondents who use the Internet fell to their lowest level in six years, accounting for only 31 percent of the total volume of household bill payments – down from the 34 percent recorded in the 2007 survey. Check bill payments have fallen by half on a percentage basis since January 2002, when Internet-connected Americans made 61 percent of their bill payments by check. Still, 59 million online households pay at least one of their household bills each month by check.
How could this benefit you? It's not a stretch to believe that some of these 61.3 million households have been in your office today, and some of them will require further billing and payment processes. These manual tasks take valuable staff time, slow-down your payment cycle, leave open the possibility of error and could result in lost revenue.
With Emdeon Patient Pay Online, however, these concerns are headed the way of carbon paper.
Comprehensive electronic billing and payment
Emdeon Patient Pay Online provides comprehensive and secure online billing and payment management. When added to your practice, this solution can yield faster collection of patient-owed amounts, improved cash flow and reduced billing costs with less effort and paperwork. Your patient billing can be current, accurate and accessible, 24 hours a day, 7 days a week through electronic storage that puts your entire patient billing and payment history at your fingertips.
With Emdeon Patient Pay Online, your patients receive email updates linking them to a secure section of your existing website. From there they can easily view, manage and pay their accounts online. Patients also gain direct access to their account information allowing them to manage account preferences, update demographic information, email customer service staff with billing inquiries and access FAQs and other helpful information. By bringing billing and payment convenience to patients online, you can reduce support calls, increase billing data accuracy, reduce A/R days and lower collection costs.
To learn more about how Emdeon Patient Pay Online can help your healthcare business, contact us today at 877.EMDEON.6 (877.363.3666) or visit us online at http://www.emdeon.com/ProviderSolutions/patient-pay-online/index.php.
