ORLANDO, Fla., May 19, 2015 /PRNewswire/ -- CollaborateMD (CMD), one of the first providers of easy and affordable cloud based revenue cycle management software, announced today the availability of integrated credit card processing and a patient payment portal to assist medical offices in lowering patient receivables.
For more information, please visit http://www.collaboratemd.com/payment_processing
The financial landscape for the medical practice is ever changing and with those changes are ever growing patient financial responsibility. CollaborateMD surveyed hundreds of their own users and determined that medical practices encounter considerable challenges with:
- Higher Patient Deductibles
- Difficulties Collecting Patient Payments
- Lower Insurance Payments
- Increased Patient Write-Offs
In response to these leading issues, CollaborateMD is excited to deliver medical offices two new products / methods to improve patient payments: Integrated Payment Processing and Payment Portal.
With CollaborateMD's integrated payment processing and patient payment portal, medical offices can:
- Accept credit card payments securely via browser and mobile,
- Invoice with a single click,
- Automatically collect payments via the payment portal,
- Reduce double entry and mistakes
The payment portal feature gives patients an easy and accessible means to pay their medical bills anywhere, anytime. The portal was designed to be used by patients of any age with simple screens and a bright yellow "Pay Now" button.
"We have a responsibility to develop products that simplify and automate processes to make the complete billing process more efficient," stated Douglas Kegler, CEO and Founder of CollaborateMD.
The patient payment portal was developed internally by CMD and is an extension of their core medical practice management software. Patient payments post directly into the practice account in real-time and patients can view their charge and payment history (regardless of where the payment was posted) in real-time. Kegler concluded, "We plan on expanding the capabilities of the Payment Portal in the future to provide more value added features that would make the office/patient experience simpler and more streamlined."
Since 1999, CollaborateMD's innovative cloud-based healthcare software solution has contributed to the financial success of medical practices and medical billing services across the country. CollaborateMD's solution, with its simplicity, affordable fees, awesome support, and 99% first pass claim rate, has been used by thousands of medical providers to process over 21 billion worth in medical claims.