The burden of healthcare expenses has become a huge issue in recent years, not just for patients but for providers as well. Medical costs have been steadily climbing, and as patients struggle to keep up with rising costs many providers have found themselves taking the financial brunt as outstanding bills continue to go uncollected. In 2017 studies showed that two-thirds of patients were unable to pay their entire medical bills, and as recent financial challenges from COVID continue to impact more and more Americans those numbers are going to continue to skyrocket.
For most practices the problem is two-fold. They’re struggling to provide flexible financing options that alleviate their patients’ financial burden without putting the practice at risk, and they’re struggling to improve their overall collections process. That’s where Wellpay comes in!
We understand the unique challenges that providers face when it comes to healthcare collections, and we’ve worked for years to develop a platform that solves these problems and improves the patient billing experience from start to finish - for patients and providers! We make it simpler for your staff to manage bills and easier for your patients to pay, transforming how providers and patients communicate at a financial level and increasing collection rates while decreasing the burden on your staff, freeing them up to do what matters most...healing patients.
Here’s How Our Patient Billing Platform Works
Automates and improves the collections process from start to finish.
Wellpay is the first platform to consolidate the entire patient financial experience and make it easier for patients and providers. From the first co-pay interaction through post adjudication cash collection, and dispute management, our platform’s got you covered with automated patient engagement software to help streamline A/R collections!
Lets patients pay over time with no risk to your practice.
In these economically challenging times, patients need payment flexibility. Wellpay helps your patients get the care they need without putting your practice at risk for nonpayment by offering fair and transparent patient financing options from 0% financing to fixed monthly payment plans. Providers get paid upfront, in full, and without recourse.
Takes the headache out of disputes.
Wellpay provides an integrated and reliable way to track and respond to billing disputes without ever leaving the platform. Our providers experience up to 80% declines in phone calls about disputes, freeing up your staff for what matters most.
Seamlessly integrates with your EMR system for real-time reporting on patient financials.
Our platform plays nice with EMRs! Easily sync your patient data on our HIPAA compliant, bank level secure platform and save hours every month keeping your records straight while staying up to date with real-time reporting and management of your bill activity.
Want to learn more about how Wellpay can help you streamline your healthcare collections process and save thousands of dollars annually on credit, debit, and lending fees?
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