Best Patient Billing & Payment Products
Best Patient Billing & Payment Products
Currently, we have identified 50 digital solutions in the patient billing and payment space, many of which integrate with leading systems like Epic, Cerner, Meditech, Allscripts, McKesson and others. This means you can choose a patient billing and payment solution that meets the unique needs of your healthcare organization and patients.
What’s more, our verified client data for these solutions shows that dozens of health systems are already using patient billing and payment solutions. This demonstrates the growing acceptance of this technology among healthcare providers as a means of improving patient outcomes.
Patient billing and payment is a crucial aspect of healthcare management, enabling patients to access their billing information, understand their coverage and financial responsibility, and complete payments with ease. With out-of-pocket costs for patients on the rise, it's more important than ever for healthcare providers to effectively manage patient receivables and protect their margins.
At AVIA Marketplace, we have a range of patient billing and payment tools and solutions designed to help healthcare providers maximize patient collections and streamline payment processes. These solutions include digital payment platforms, patient engagement tools, and revenue cycle management solutions that enable healthcare providers to improve financial engagement with patients and increase revenue.
On this page, you'll find a curated list of patient billing and payment solutions from top vendors in the industry. Some of these solutions may help healthcare organizations to reduce bad debt and administrative costs related to collections, improve patient financial engagement, and drive liquidation of patient balances. By browsing AVIA Marketplace, you'll have access to the latest and most innovative patient billing and payment solutions that can help improve your healthcare organization's financial performance and support positive margins.
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Patient Billing & Payment: Products
49 products
Just like every patient's visit is personal, their billing and payment experience should be too.
Trusted by hundreds of provider clients, including 4 of the top 10 health systems in the US. Flywire’s analytics-driven payment platform engages patients at every stage in the financial journey with easy-to-understand, affordable payment options.
| EMRs supported | Cerner |
| Solutions | Patient Financial Experience Tools |
| Keywords | billing, patient experience |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
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By leveraging powerful predictive analytics, Waystar’s Advanced Patient Propensity to Pay solution gives you deeper visibility into the expected cash value of a patient’s account as well as their likely communication preferences—so you make the right contact, at the right time with the right approach.
Our technology:
- Identifies expected cash value, even for those without credit history
- Doesn’t rely on traditional credit bureaus or ‘soft hits’ that dissatisfy patients
- Tracks aging accounts to guide collection agency placement strategies
- Provides easy-to-read dashboards with performance insights
What our clients are saying:
“At Atrium Health we always focus on putting the patient first. With that top of mind, we deployed Waystar predictive analytics and technology and were actually blown away with the results. Waystar is definitely one of our top vendors and we certainly value the collaboration we have with them. ”
VP of Patient Financial Services, Atrium Health
| EMRs supported | None provided |
| Solutions | Patient Financial Experience Tools |
| Keywords | None provided |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
When it comes to patient estimates, accuracy matters. We continuously test and improve our estimates, and we don’t water-down our accuracy rates by excluding the things that are outside our—or your—control. Waystar automates the process of calculating a patient’s liability without manual intervention, improving staff efficiency.
Features + benefits
- Automated real-time eligibility using EDI + RPA
- Out-of-network benefits + estimation
- Easy to understand, user-friendly estimates
- Unparalleled scalability
What our clients are saying:
“ Where before we saw frustration from patients around unknown costs, today, we have a clear process that gives patients the information they need. ”
-Billing Department Supervisor, Prima Care P.C.
| EMRs supported | None provided |
| Solutions | Patient Financial Experience Tools |
| Keywords | None provided |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
Simplify patient payments with a single integrated platform. From pre- to post-service, every payment channel is centralized and easily accessible, with automated posting and to-the-penny reconciliation.
No matter how many locations you have or how complicated your system, our holistic approach to the patient financial experience helps you seamlessly increase collections, efficiency and satisfaction.
The Waystar platform offers:
- Purpose-built infrastructure to power all patient payments + communications
- Easy-to-use technology to deliver an intuitive payment experience
- Personalized engagement + affordable payment options to empower fiscal decisions
- Easy, reliable integration with your existing systems
- Automatic reconciliation, every day and to the penny
What our clients are saying:
“After implementing Waystar, payments have increased substantially, patient wallet adoption has doubled and our Net Promoter Score among patients rose to +60, which is incredible. ”
Cole Elmer, VP Revenue Management, BJC Healthcare
| EMRs supported | None provided |
| Solutions | Revenue Cycle Management Tools with Patient Financial Experience Interface |
| Keywords | patient payments, patient collections, patient billing +1 more |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
The new healthcare economy is here. And succeeding in this new economy requires a shift in the financial relationship between health systems and patients. VisitPay helps you make that shift by giving you the power to manage your financial relationships better than a bank—so you can focus on what you do best: providing exceptional patient care.
The VisitPay platform can integrate with multiple billing systems simultaneously to present bills and payment options that make it remarkably easy for patients to understand, verify and pay.
| EMRs supported | None provided |
| Solutions | Patient Financial Experience Tools |
| Keywords | None provided |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
Simplify the patient financial journey with self-service, mobile-optimized payment solutions. Your patients are managing all aspects of their lives on their mobile devices, why not meet them where they are for payments as well?
Our suite of patient payment tools helps you ensure you can collect all forms of payment anytime, anywhere, streamlining your collections processes. You can even identify those patients who are a payment risk and offer them the financial journey that makes the most sense for them – including qualifying for financial assistance programs and starting personalized payment plans.
| EMRs supported | Epic |
| Solutions | Revenue Cycle Management Tools with Patient Financial Experience Interface |
| Keywords | mobile , billing, patient financial engagement +2 more |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
Cedar Pay makes it simpler for patients to navigate the post-service financial journey and take control of their medical bills. We deliver enterprise-grade patient billing and payment solutions that leverage Cedar's cutting-edge consumer engagement technology, unique payer integrations and aligned incentives to help provider organizations increase collections, boost efficiency and deliver an exceptional patient experience. More than 55 of the nation's leading health systems and physician groups turn to Cedar to transform the patient financial experience. On average, Cedar Pay lifts patient collection rates by 30%, with 88% of patients reporting a positive experience.
| EMRs supported | Epic, Cerner, Meditech +7 more |
| Solutions | Patient Financial Experience Tools, Revenue Cycle Management Services |
| Keywords | patient financial engagement, patient financial experience, patient payments +3 more |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
Alert patients about upcoming charges on stored credit cards to comply with required patient notifications. Included with payment reminders.
| EMRs supported | Epic, NextGen, athena +13 more |
| Solutions | Patient Financial Experience Tools, Revenue Cycle Management Services |
| Keywords | rcm, revenue cycle management, card on file +2 more |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
Securely deliver patient invoices/statements through any digital channel to significantly reduce statement printing and mailing costs. Schedule multiple digital statement deliveries for unpaid invoices. Track statement open/clickthrough rates. Link directly to online payment portal from digital statements. Included with Payment Reminders.
| EMRs supported | Epic, NextGen, athena +13 more |
| Solutions | Revenue Cycle Management Services, Patient Financial Experience Tools |
| Keywords | rcm, revenue cycle management, digital statements +2 more |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
Keep patients informed about their estimated cost of care early in the process. Send updates on insurance claims related to the visit. Included with patient payment reminders.
| EMRs supported | Epic, NextGen, athena +13 more |
| Solutions | Patient Financial Experience Tools, Revenue Cycle Management Services |
| Keywords | rcm, revenue cycle management, patient payments +1 more |
| Categories | Patient Billing & Payment, Revenue Cycle Management |
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AVIA Marketplace offers a product grid that is a comprehensive resource for health care buyers in their research journey. The grid showcases products from leading vendors and ranks them based on match scores and market presence. This approach ensures that the products listed are not only relevant to the buyer's needs but also established in the market. With AVIA Marketplace's product grid, health care buyers can make informed decisions and select products that meet their specific requirements.
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Buyer's Guide
Contents
Contents
A Buyer's Guide to
Patient Billing and Payment
Patient billing and payment are a patient’s ability to access, understand, and complete payment for healthcare services.
What is patient billing and payment?
Patient billing and payment is the ability of individual patients to access their billing information, understand their coverage and financial responsibility, and complete payment. The process can vary depending on providers and insurance coverage, but a typical patient view of billing and payment follows this pattern:
- The patient checks benefits and searches for out-of-pocket costs prior to scheduling an appointment.
- Before the encounter, the patient pays applicable co-pays, any outstanding balance and pre-service payment.
- After the encounter, a claim is generated and submitted to the payer for adjudication and reimbursement. The payer generates an Explanation of Benefits (EOB) for the patient to review.
- The provider generates a statement that reflects any outstanding fees and sends it to the patient
- The patient reconciles the statement(s) and EOB(s) and selects an appropriate payment option. Providers may require payment in full or offer payment plans or financing.
The case for digital patient billing and payment
Out-of-pocket costs for patients are rising, and health systems have seen corresponding increases in bad debt and administrative costs related to collections. On average, providers only collect about 40 percent of outstanding patient balances. As the proportion of revenue attributable to patients continues to grow, effective management of patient receivables is essential to protect health system margins.
Digital patient payment and billing solutions can improve patient financial engagement with greater visibility into their financial obligations, streamlined billing information and flexible payment capabilities. Health systems that successfully implement digital patient billing and payment solutions can drive liquidation of patient balances and help create and support positive margins for health systems. AVIA Marketplace estimates that each percentage point of lift in digital payments translates into approximately $2 million in net collections.
How digital patient billing and payment works
While the revenue cycle process remains unchanged, digital patient billing and payment solutions condense and simplify the consumer experience with four key elements:
Self-service estimates for out-of-pocket costs
Consolidated billing information across types of providers, care sites and encounters, along with insurance information
Multiple payment options for patients to pay at the point of care or after visits
Access or referrals to financing options
What leading digital patient billing and payment solutions offer
Self-service out-of-pocket estimator
This feature allows patients to generate specific detail on their out-of-pocket costs and should reflect patient eligibility and preferences.
This feature allows patients to generate specific detail on their out-of-pocket costs and should reflect patient eligibility and preferences.
Digital statements
Paperless billing options should allow patients to select their preferred statement frequency and modality (such as text or email).
Paperless billing options should allow patients to select their preferred statement frequency and modality (such as text or email).
Statement consolidation
Top digital billing and payment solutions allow account guarantors to review and consolidate billing information across entire households into a single balance with a detailed breakdown of charges.
Top digital billing and payment solutions allow account guarantors to review and consolidate billing information across entire households into a single balance with a detailed breakdown of charges.
EOB reconciliation
Digital billing and payment software should automatically reconcile health system statements against EOB information and flag the discrepancies for account guarantors to review.
Digital billing and payment software should automatically reconcile health system statements against EOB information and flag the discrepancies for account guarantors to review.
Post-service patient payment
Flexible payment options that accommodate a variety of patient preferences and needs help drive liquidation of balances. An advanced-capability solution should support multiple methods, including IVR, credit card, HSA and PayPal.
Flexible payment options that accommodate a variety of patient preferences and needs help drive liquidation of balances. An advanced-capability solution should support multiple methods, including IVR, credit card, HSA and PayPal.
EHRs versus third-party solutions
Native EHR patient billing and payment solutions allow consolidated billing and multiple payment options, can be accessed alongside patient-facing clinical tools for a streamlined experience, and offer strong integration with payment processors and other vendors that handle patient liabilities. EHRs also allow health systems to implement single billing offices to issue single statements for providers on that platform.
But EHRs come with some noteworthy trade-offs. Patients must download mobile apps or visit patient portals to access self-service billing and payments, and limited customization options create a fragmented user experience with fewer flexible payment options. In addition, outsourced collections management and single billing offices may incur substantial implementation costs.
In comparison, third parties can create agnostic platforms that allow affiliates to combine statements and insurance information. Leading third-party solutions also offer patient-friendly EOB reconciliation, which improves coordination and promotes issue resolution.
Organizing for digital prior authorization
success in your health system
success in your health system
Selecting a digital solution to manage patient receivables is a strategic decision with long-term consequences for an organization’s financial health. Before implementing a new patient billing and payment solution, health systems should:
- Work with relevant stakeholders to identify any issues or deficiencies in the current system and define priorities for a new solution, such as included revenue cycle management features.
- Assess the financial health and payment challenges of the patient population to identify payment options and features to boost engagement.
- Obtain organizational buy-in ahead of potentially significant changes to billing and payments, such as implementing a single billing office or flexible financing or payment plans.
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