In an era where immediacy and convenience dominate consumer expectations, the healthcare industry often struggles with legacy systems that slow down transactions and elongate payment cycles. Effective collections are vital to the financial health of any practice, but traditional processes can be time-consuming and labor-intensive, involving multiple steps from paper billing to manual follow-ups. These legacy systems and processes not only delay accounts receivable but also lead to increased administrative burdens and patient dissatisfaction.
In recent years, text messages have emerged as a powerful means to engage patients and drive collections – with recent studies showing that over 90% of texts are read within the first three minutes of being received, compared to the fact that 70-80% of emails are never opened at all. Yet, existing text-to-pay tools can suffer from the same challenges as traditional collections methods, requiring staff to continuously monitor and remind patients on an individual basis.
Recognizing the critical need for more efficient payment solutions, Rectangle Health is excited to introduce Bulk Text-To-Pay through our Bridge Payments platform – a transformative tool designed to align healthcare payments with the convenience and speed experienced in the retail sector.
What is Bulk Text-To-Pay and How Does it Work?
Bulk Text-To-Pay is a game changing feature that simplifies the way healthcare practices manage patient payments. With just a few clicks, staff can send payment requests directly to the mobile phones of multiple patients with outstanding balances—ranging from dozens to thousands. This not only optimizes the payment process but also improves the customer experience by offering the flexibility to pay anytime and anywhere. Designed for healthcare practices of all sizes, Bulk Text-To-Pay ensures payments are prompt, secure, and hassle-free, with key features including:
- Personalized Balances: Include balance due for each patient so that payment requests accurately reflect what is owed.
- Advanced Texting Reporting: Unlock greater insights with the ability to check text delivery status, open rates and payments made.
- Integration with Practice Management Systems: Broad compatibility with existing practice management software to ensure accurate and timely billing information.
Benefits and Use Cases for Bulk Text-To-Pay
The benefits of implementing Bulk Text-To-Pay are manifold, starting with significant financial advantages. It stands as a cornerstone for revenue acceleration, acting as a powerful catalyst for reducing accounts receivable and increasing collection rates through its ability to instantaneously reach a broad patient base. Unlike traditional balance billing methods that involve repetitive calls, emails, or mailings, this user-friendly and automated technology accomplishes in minutes what would otherwise take hours.
Here are some key advantages of Bulk Text-To-Pay:
- Efficiency: Automates the sending of payment reminders, saving valuable staff time.
- Scalability: Equally effective for small practices and large healthcare systems.
- Convenience: Allows patients to pay their bills with just a few taps on their mobile devices, leading to quicker payments.
- Satisfaction: Improves patient satisfaction by simplifying the payment process, thereby enhancing the overall healthcare experience and fostering patient loyalty.
Already a Bridge Payments customer? Check out our Bulk Text-To-Pay Feature Guide with tips on how to set up and get the most out Bulk Text-To-Pay.
Text Messages Matter
In today’s healthcare landscape, enhancing the quality of patient care means improving all facets of patient interaction, including financial transactions. Bulk Text-To-Pay empowers practices to maintain close communication with their patients, reinforcing trust and loyalty while simultaneously reducing accounts receivable and boosting revenue.
To discover how Bulk Text-To-Pay can transform your practice’s financial interactions and patient communications, request a demo today, to learn more.
