Simplifying Patient Payments Collections Made Easy With Easy
- Slides: 14
Simplifying Patient Payments Collections Made Easy With Easy Pay e ’s r to c o r. D u se a re yo c In I David E. Berlad Vice President - Business Development National Healthcare Accounts October 21 -22, 2013 Confidential & Proprietary © 2013 se a re c n ti Pa nu e ev R t en c le l o C s n tio
Ever Wonder Why? ? ? Do You Ever Wonder Why Other Medical Practices… Ø Collect More Money From Patients Ø Retain More Patients and Grow Their Practice Ø Have Less “No-Show” Appointments Ø Staff Seems To Be Less Stressed Ø The Doctors are Happy (Smiling all the way to the bank) Is There A Better Way To Collect From Patients Who Have The Capacity To Pay and Get Better Payment Results? YES!! 2 Confidential & Proprietary © 2013
The #1 Problem Facing Office Managers Ø 92% of business office managers at healthcare facilities said that their number one problem was: THE TIMELY AND COST EFFECTIVE COLLECTION OF PATIENT PAYMENTS Source: Visa Study 2010 3 Confidential & Proprietary © 2013
Office Administrators Face Difficult Situations Ø The Problem Ø Ø Ø Patient receivables are increasing Pressure to reduce receivables Bad debts increasing Time and expense of billing Time and expense of dreaded collection calls Time and expense of handling checks Ø What about the future? Ø Next year receivables could be… Ø Bad debts could increase to… Ø More collection calls could mean… 4 Confidential & Proprietary © 2013
Collectability of Patient Receivables Source: Commercial Law League of America 5 Confidential & Proprietary © 2013
Consumers Pay Their Health Bills LAST! Here’s how Americans pay their bills: § § § Source: Visa Study House Payment Car Payment Utilities Bank & Credit Card Payments Food & Gas Clothing Kids’ Expenses Entertainment Doctor, Dentist Hospital 6 Confidential & Proprietary © 2013
There IS a Solution? YES!!! Ø It was invented by VISA, adopted by Master. Card and enhanced for healthcare by Easy Pay Solutions Ø It is used by hospitals, group practices and individual medical practices nationwide Ø It’s been integrated in various medical practice management systems and other software Ø NOW - It’s available to you from Cure. MD 7 Confidential & Proprietary © 2013
Announcing The Fastest and the Easiest Way To Collect From Patients 8 Confidential & Proprietary © 2013
The Answer Ø Easy Pay from Easy Pay Solutions, Inc. Ø Your financial key to unlock and receive timely patient payments 9 Confidential & Proprietary © 2013
What is Easy Pay? Ø Merchant Services – Credit card /Debit Card Processing (but EASY PAY is much more than that!!!) Ø Functions as an accounts receivable reduction tool that uses payment cards to pay for services similar to other non-healthcare industries (i. e. hotels, phone companies, time share rentals, more…. ) Ø Significant part of any Revenue Cycle Management Process Ø Accepts VISA, Master. Card, American Express, Discover, JCB and Health Savings Accounts / Flexible Spending Accounts that have the Visa/Master. Card logo Ø Easy Pay Solutions is a PCI certified Level 1 Service Provider Ø Easy Pay Solutions is an active member of the PCI Security Standards Council 10 Confidential & Proprietary © 2013
Advanced Credit Card Features Ø Payment Plans – You Set The Dollar Amount and The Time Period Ø Signature-on-File – Securely Store Patient’s Credit Card Information For Future Payment Use Ø Single Payments – One-Time Payments Ø Subscription Option – Repetitive Billing Until Cancelled (concierge practices) Ø ALL WITH THE PATIENT’S AUTHORIZATION 11 Confidential & Proprietary © 2013
Benefits For Your Medical Office Ø INCREASES PHYSICIAN TAKE-HOME PAY Ø Lowers Account Receivables An Average of 10% Within 90 Days Ø Lower Rates, Lower Processing Fees, No Monthly Terminal Rental Fees Ø Expedites Cash Collection from Patients Ø Eliminates/Reduces Billing and Collection Expenses Ø Eliminates/Reduces Bad Debts and Administrative Expenses Ø Increased Patient Retention Ø SURVIVAL 12 Confidential & Proprietary © 2013
Easy To Get Started Ø Software and Hardware Ø Ø Free Easy Pay Software Free Unlimited Training Fee Technical Support Credit Card Swipe Required Ø $50 Box Godiva Chocolate Welcome Gift Ø For New Accounts That Sign Up By December 1, 2013 STOP BY THE EASY PAY BOOTH FOR MORE INFORMATION 13 Confidential & Proprietary © 2013
Platinum Sponsor Advanced Credit Card Processing For Cure. MD Users Who Want to Collect More From Patients FOR MORE INFORMATION STOP BY THE EASY PAY BOOTH 14 Confidential & Proprietary © 2013
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