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The VisitPay Blog | Building Better Financial Relationships

Improving Patient Financial Health: By the Numbers

Every health provider has their priorities. For some it’s their bottom line. For others, patient satisfaction. We believe one leads to the other: satisfied patients are the lifeblood of any health system. 

There’s a number of ways you can adjust your patient financial offerings to find the right balance of increasing patient satisfaction as well as financial outcomes. No matter your metrics, VisitPay has the numbers and experience to provide the solution for your situation.  

200+ Variables

Number of variables a provider can use in VisitPay to customize the patient experience, including the VisitPay propensity to pay score and custom segmentation scores. Providers use VisitPay to create “you know me” experiences for their patients, which drive brand loyalty.

100% EOB payer Coverage

Percent of payers for whom we present an EOB. VisitPay has proprietary technology that presents an EOB right alongside the hospital bill, giving the consumer transparency, convenience, and peace of mind when paying their bill. 

98% Self-servicing

Percent of consumers who completely self-service their financing needs in VisitPay without calling the contact center.  This massively reduces inbound call volume while greatly increasing user satisfaction.  After all, these days, who really wants to talk to someone about paying a bill?

60 Days to Deploy

We recently released VisitPay 3, the third major version, which focused on simplifying the implementation so that our clients can deploy VisitPay with minimal workflow changes and minimal IT and business resources, and so that we can go live within 60 days. 

40% Increase in Patient Satisfaction

We work with you to survey your patient population both before and after using VisitPay. Those patients report an impressive increase in satisfaction with the billing process.

30% Patient Payment Yield Improvement 

VisitPay has sophisticated analytics tools that measure patient payment “yield,” or the rate at which people pay their bills. VisitPay goes beyond simply shifting money from paper billing to digital – through a best-in-class experience and consumer finance best practices, we increase patient payment yield. This means more cash and less bad debt.

9 Billing Systems Simultaneously Deployed 

VisitPay integrates with many billing systems simultaneously across acute and ambulatory systems to create a consolidated monthly bill for your patients. With the release of VisitPay 3, we can now also consolidate even more systems, to include small physician practice systems and non-medical bills like transportation, meals and gift shops.

4.7 Star Rating (out of 5)

Achieved by our payment and finance plan features. Compare this to average star ratings on, say, Amazon, and you’ll see this is right up there with the best online products and websites. We trigger different surveys for different features, all with questions driven by our clients.

4 Years in Market

Number of years VisitPay has been deployed in production with clients. Our scores have been in market for nearly nine years and over that time we’ve constantly improved our market-leading scores with machine learning, and iterated on already great patient experience.

1 Monthly Statement

VisitPay sends a consolidated electronic statements for all users who opt-in, and can also send consolidated paper statements if you prefer. Further, one guarantor can manage an entire household through our opt-in household consolidation feature.

0 Manual Intervention

There is no intervention required of your staff to support to support patients who finance online, to include our balance transfer program. Other financing and balance transfer programs require manual intervention by your staff, and usually require the patient to call and subsequently deal with paper. Our financing program and our exclusive Balance Transfer program with JP Morgan is fully automated for both you and your patients.

The evidence speaks for itself: 11 compelling metrics that overwhelmingly point towards the success of patient financial health — for patients and health systems alike.  

VisitPay can help your health system achieve success.

Let's talk about how

Vince Martino

Vince is the Chief Product Officer and Co-Founder at VisitPay. He has nearly 20 years’ experience leading product development, operations, and marketing. He was formerly COO of Balihoo and Director of Operations and Analysis for the Credit Recovery Services division at Capital One. Vince lives in Boise with his wife and two children where he enjoys fly fishing on the river.

See all posts by Vince