According to a 2021 U.S. Bank healthcare payments insight report*, 46% of respondents feel healthcare to be the industry with the most difficult process of making a payment. Another jarring statistic cited of consumer perception is 68%* somewhat or strongly feel healthcare payment methods lag in innovation.
Payment processing has become frictionless in nearly every industry. However, healthcare remains a laggard and many practices continue to print, stuff, stamp, and lick to send paper statements every 30 days to patients with outstanding balances. Consider how patients are quickly adopting consumer-like behavior in their healthcare. In today’s digital era of well-informed online consumers, patients turn to online reviews to help find a doctor. Furthermore, patients expect self-service at every turn: scheduling, portals, telemedicine, health records, and payments. We see that patients are demanding the same modern conveniences that mirror other industries.
Simplifying this complexity is the genesis behind our revolutionary new credit card payment processing feature, natively within the familiar AdvancedMD workflow. Patients love the simplicity, transparency, and reminder alerts. Practices are capturing more revenue, faster, with much less effort (and paper cuts).