Leave No Patient (or Balance) Behind
What your EMR alone can’t do and why that’s costing you patients and moneyExplore the data
Get better results with VisitPay
Many health systems rely on EMR platforms to engage patients and process payments. But this technology wasn’t built for such critical interactions and can’t meet today’s level of patient expectations. They demand personalized, flexible, convenient financial experiences, much like they receive in other industries.
And, in fact, moderate or low propensity payers and those managing higher balances are more likely to pay if you give them the right opportunity, driven by the best experience, underpinned by personalized communications and financial options.
Create a consumer-like experience, realize consumer-level loyalty and collect 70% more of every dollar owed versus traditional approaches. Yes, your EMR is a powerful tool, but not when it comes to the patient financial experience. Take a look at the following data, based on real-world implementations and proven outcomes, to see how you can easily get better results with VisitPay.
Don’t get left behind
As complex as the revenue cycle is, the way to increase payment rates is simple: Give patients the financial experience they deserve.
Digital technology makes this possible, but only if your system is built for your specific payer population. The impact is so significant, it may surprise you.
Here are real differences, across three propensities to pay, between VisitPay and the EMR typically found in many health systems.
Bill Payment Rate
PTP, Balance of
Default EMR PlatformDefault EMR Platform
The healthcare industry is now led by patient demands. Many revenue cycle leaders, however, are dealing with technology designed for a time when the patient population only owed a fraction of total revenue. Health systems that don’t adapt will be left behind.
Our experience proves you can boost payment rates by 70% by engaging the patient with strategies that work for them, and for you.
Measure patient satisfaction
Measurement is a critical piece of delivering a satisfying patient-first payment experience. The more we know about how patients feel, the more we can improve and the more loyal they’ll be to your health system.
Net Promoter Score (NPS) is a key indicator that’s standard in consumer industries and an ideal metric as consumerization moves into healthcare. VisitPay manages an average balance of $1,500 across millions of patients, and has proven that focusing on and measuring the experience shifts the revenue cycle from collections to engagement, as evidenced by the data below.
Net Promoter Score
Default EMR Platform
Compare to Popular Brands:
A patient’s financial health is an important part of their well-being. Even if patients receive high-quality clinical care, an impersonal financial experience full of friction will negatively impact their perceptions of your health system.
Empowering them financially promotes self-care and better health outcomes and benefits your bottom line.
NPS is a powerful tool to quantify their sentiment and ensure you’re living up to expectations.
Gain more users
Digital adoption and payment lift depend on simple, convenient and frictionless payment experiences. That’s why VisitPay takes an open, API-first approach to integrating with billing systems and digital front doors.
However, “if you build it, they will come” is not a winning adoption strategy, so we take responsibility for increasing digital engagement at your health system. Our partnership includes a playbook of best practices and skilled marketing experts with experience helping organizations engage millions of patients with VisitPay.
See the chart below for a snapshot of real results.
Percent of Payments Through VisitPay Platform
Months Since Implementation
Filter by Net Patient Revenue:
With the seamless authentication they expect, patients can easily manage their entire balances through a consolidated view, from a single digital access point, at any time, using any device.
Beyond raising patient sign-ups, this experience also increases the proportion of payments from your user base.
You can’t afford to wait
Collecting a copay or low balance from a patient with the means to pay might be easy through an EMR. But you can’t create loyalty using this system alone when the average managed balance is $1,500 — a significant figure for the average American.
“Right product, in the right place, at the right time” is an age-old mantra for winning at the shelf in consumer goods. Now that healthcare is subject to consumer-like expectations, the formula can be adapted to the patient financial experience: ‘Right information, with the right options, at any time.’ An EMR alone can’t achieve these goals.
VisitPay combines origins in consumer finance with expertise in data and consumer tech. We’ve rebuilt and reimagined the patient financial experience, and it works. Join the likes of Intermountain, Ascension, Texas Health and others to gain competitive advantage and meet the patient promise. Why wait for what’s been “coming soon” when you can make a difference now with VisitPay.