10 Things Your Mobile Pay Solution Should Offer
Technology is radically changing the healthcare industry, and patients now demand a modern billing and payment experience that enables them to conveniently transact how, when, and where they desire (more on this topic in our last blog). Mobile pay solutions are better aligned with patient needs than traditional methods and enable physician practices to realize significant cost savings and improve their collections. Before making the switch, you’ll want to ensure your mobile solution was designed from the ground up with your patients in mind. An effective solution should offer multiple payment options through one system, be able to accommodate new payment methods, have a built-in auto-draft system, and be able to integrate with your back office. Finally, a mobile pay solution should also offer a transparent fee structure and have a strong level of security.
Here are ten features you’ll want to look for in your mobile pay solution:
1. Designed with End Users in Mind
Building web portals then trying to engage customers doesn’t work as well as starting where patients already spend most of their time – on their phones. A mobile-first pay solution should be inherently designed to meet the on-the-go preferences of patients.
2. Patient Convenience
The more efficient and invisible the mobile platform is, the more patients are likely to use it. Forcing patients to download another app, create accounts, and login is inconvenient and only slows down the payment process.
3. Integration with Back Office Systems
A mobile pay solution should offer seamless, bidirectional integration with all back-office systems. Administrators should be able to see all office transactions and payment methods with scheduling data, patient account balances and managed payment plans. It should also enable billing managers to set up automated invoice workflows, such as payment plans.
4. Auto-Posting of Payments
As medical billing grows increasingly complex, healthcare providers are generating more bills than ever. A mobile patient solution should be able to auto-post all patient payments, regardless of where they are made, and tie them directly back to the respective visit ID.
5. Ability to Accept New Forms of Payment
As new payment methods, such as Apple Pay, Samsung Pay, Square Cash, and Venmo come online, healthcare providers should use a mobile pay upgrade as an opportunity to accept such payments.
6. Pay from Anywhere at Anytime
A mobile solution should integrate with all other payment methods and offer patients the ability to seamlessly and easily pay from anywhere at any time. That system should deliver patients the same experience whether they pay in the office, at home on a laptop, or on the go with their mobile device.
7. Auto-Complete and Card-on-File Technology
One recent survey found that while 80 percent of patients approve of having a card on file, only 20 percent of providers currently offer the service. A patient-centric billing and payment platform should be able to keep patient and card data on file. Auto-complete of fields can enable patients to easily pay through a text message with just a couple of pieces of information.
8. Built-In Auto-Draft
A mobile pay solution should also offer auto-draft to enable payment plans or quickly accept co-pays under a designated dollar amount.
9. Strong Security
A mobile pay solution must offer a high level of security. With tokenized payment methods, the patient’s primary account number can be replaced with a series of randomly generated numbers. This keeps less sensitive data off your system.
10. Transparent Fees
A mobile pay solution should offer full transparency into fees that will be charged to the healthcare provider or patient. Recently, Relatient launched a mobile-first patient billing solution, MDpay, which was built specifically to meet the above needs. See how MDpay helped a Washington, D.C.-based women’s health private practice collect over $160,000 in patient payments via text and email within just 3 months.