InstaMed Delivers Simpler, More Transparent Healthcare Payments Experience

InstaMed, healthcare’s most trusted payments network, announced today that it has released new enhancements that deliver next-generation healthcare payments solutions for providers, payers and consumers.

Most notably, InstaMed has built on ten years of innovation with updates to its patented InstaMed Estimator solution, which allows providers to estimate patient responsibility, secure a payment method and then automate payment collection according to the patient’s payment preferences.

“We place high value on clear patient communications regarding payments. The ability to set payment expectations upfront with the InstaMed Estimator solution has been key to these communications,” said Vicki Durso, Revenue Process Manager of Radiology Regional Center.

“With the enhanced solution, it’s even easier for our staff to leverage the integrated healthcare and payment data to quickly estimate the patient responsibility, then immediately offer payment options, including automated payments. This allows us to achieve payment assurance from patients, while also meeting their demands for understanding estimated costs and having convenient payment options.”

• Delivering a Consumer-Centric Premium Payments Experience
  Consumers can make premium payments the same way they pay their other monthly household bills in an omnichannel payment experience with convenient payment options including automated, recurring payments.

• Gaining a Comprehensive View Into Patient Payment Data
  By integrating healthcare clearinghouse data with patient payment information and displaying it on one screen, providers immediately get a full picture of a patient’s financial and benefit data. This single view enables an InstaMed user to quickly estimate patient payment responsibility and deliver convenient, automated patient payment options.

• Bringing Convenience to Healthcare Payments
  Consumers can manage all of their healthcare bills in one place with a secure digital wallet leveraging tokenization and self-service capabilities for managing payment methods and payment plans, accessing payment and statement history and selecting email and/or text messages for healthcare payment communications.

• Driving Smart Business Decisions Through Data Analytics
  Now providers have easier access to long-term collection data to understand revenue trends and make smart business decisions around collection strategies.

• Integrating Into Any Healthcare IT System
  Providers and payers can integrate secure healthcare payments into any healthcare IT system, including practice management systems, patient portals, member portals and proprietary systems with numerous embeddability options.

Read the full article here.

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