PatientPay is a modern, digital-first healthcare payment solution designed to simplify the patient billing process and accelerate revenue cycle management (RCM) for providers, hospitals, and RCM organizations. Unlike legacy, paper-based systems, PatientPay was built from the ground up as a technology platform to remove friction from the payment experience, leading to enhanced cash flow, reduced administrative burdens, minimized billing errors, and improved patient satisfaction.
The platform utilizes an Advanced Dunning engine and Dynamic Patient Communications to send targeted messages via the patient's preferred channel (text, email, or mail) at the optimal time, resulting in faster payment conversion. PatientPay claims an average payment time of less than 14 days, significantly faster than the industry average of 45 days, and a 41% conversion rate of electronic billing messages into payments.
Key Features and Capabilities:
- Multiple Payment Options: Supports major credit cards, debit cards, HSA/FSA cards, ACH/eCheck, and digital wallets (ApplePay, Venmo, PayPal, GooglePay).
- Self-Service Payment Plans: Patients can easily set up personalized, interest-free payment schedules.
- PatientPay Digital Wallet: Allows patients to store payment information securely (Card on File) and use it across all participating providers for time-of-service and future payments.
- Seamless Integration: Integrates with existing EMR/EHR and practice management systems for real-time updates and efficient billing workflows.
- Comprehensive Reporting and Analytics: Provides insights into payment data, patient behavior, and user activity to improve RCM processes.
- Multi-Channel, Branded Delivery: Delivers clear, branded statements via text, email, and mail.
Target Users and Use Cases:
PatientPay caters to healthcare organizations of all sizes, including:
- Hospitals & Health Systems
- Medical Groups / Physician Groups
- Physical Therapy Practices
- Revenue Cycle Management (RCM) Organizations
The primary use case is maximizing patient collections, minimizing billing complexity, and reducing bad debt by providing a modern, consumer-friendly payment experience.
