Download TEXPO Conference Healthcare Industry Roundtable Discussion Patient Payment Industry Trends and Developments

TEXPO Conference
Healthcare Industry Roundtable Discussion
Patient Payment Industry Trends and Developments
Patient Payment Lockbox:
•
Volume is holding steady/slightly decreasing
•
Driven by enhanced online portals
New Patient Payment Portals:
•
Offering wider payment functionality and improved patient experience via the Internet
•
Providing access to view test results; medications; diagnoses, educational materials; appointments
(viewing and scheduling); billing statements; and notices and balance information
•
Encouraging online payments and payment plans
•
Consolidating multiple merchant processing platforms/gateways
•
Converting to automated paper payment activity
Telephone IVR:
•
Providing patients 24/7 balance and patient responsibility information and enabling online payments via
touchtone phone
Cashiering/Point of Care & Call Center Payments:
•
Using patient portals for point-of-care payment activity
•
Leveraging a front-end, enterprise-wide cashiering platform that is integrated to billing system(s) for
inquiries, auto posting of payments and customizing healthcare receipts
Advance Outbound Calling:
•
Requesting payments from patients with scheduled elective procedures (performing estimation and
collection prior to patient arrival)
Financing Service Option:
•
Minimizing use of this option due to low ROI and to reduce potential credit exposure
Patient Refunds:
•
Moving from check to electronic payment options:
•
Pay card or debit card
•
Digital disbursements
o
Patient e-mail and cell phone numbers are required and actively collected by providers
o
Recognized need to educate and market the approach to patients and staff
Payer Refunds:
•
Processing via check or as a “take back” by payers
•
Performing a digital disbursement approach similar to patient refunds
•
Working towards using a clearinghouse
Healthcare Consumer Insurance Payment Trends
Lockbox Payments:
•
Decreasing Lockbox volume as a percentage of total payments as consumers opt for electronic payment
options, especially for recurring quarterly/monthly payments
Online portals for Consumer Healthcare Insurance Payments:
Implementation phases:
Phase 1
Phase 2
•
Enable one-time payments by patient/for
recurring payments
•
•
Patient calls or sends in paper requests to
the payer to establish a recurring payment
plan option
Fully automated for consumers to make
one-time payments or establish recurring
payment plans (card or ACH) on a selfservice payment portal
Group Insurance Payments:
•
Processed via mail-in documents
•
Recurring monthly payments can typically be established via ACH only
Refund Challenges for Insurance Customers:
•
Utilizing check refunds
•
Exploring use of electronic payment options
Contact Information:
Tim Phillips
BNY Mellon
Deputy Head and Business
Development Officer
[email protected]
704 966 0064
Kimberly Scott
Children’s Medical Center of Dallas
Director of Treasury Operations
[email protected]
214 456 9338
Jordan Timberlake
Memorial Hermann Health System
Treasury Manager
[email protected]
713 338 6672
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03/2016