Newly integrated healthcare payment solutions enable hospitals to increase payments from self-pay patients
DALLAS & PHILADELPHIA--(BUSINESS WIRE)-- ESI Healthcare Business Solutions (ESI), a preferred safety-net hospital partner, has partnered with InstaMed, the leading Healthcare Payments Network, to offer Electronic Healthcare Payment Solutions that enable hospitals to increase patient payments and streamline the healthcare payments process.
The Electronic Healthcare Payment Solutions allow hospitals to accelerate cash flow through comprehensive patient estimation, credit/debit card and check processing, secure electronic patient statement delivery and online bill pay. These tools reduce patient bad debt while giving patients more convenient ways to pay, during or after the hospital visit.
“By making it easy and affordable to collect from patients, ESI is helping hospitals take control of their growing patient receivables in order to get paid faster and more efficiently,” Linda McCann, Vice President of Client Advocacy at ESI. “Furthermore, by offering patients more convenient payment options like online payments, as well as easy-to-read electronic statements, hospitals will improve the payment experience for their patients.”
“With the sweep of consumerism in healthcare, the number of self-pay patients is increasing rapidly, and providers need to increase their focus on collecting from their patients,” said Bill Marvin, President and CEO of InstaMed. “We are excited to power ESI’s hospitals with integrated healthcare payment tools to collect efficiently from their patients.”
About ESI Electronic Healthcare Payment Solutions
With ESI Electronic Healthcare Payment Solutions, hospitals estimate patient payment responsibility at the point of service, then save patient payment information on file to collect payment upon claim adjudication. ESI also offers patient-friendly paper and electronic statements, with options to pay online, by phone or by mail using a credit/debit card, paper check or eCheck. By streamlining the patient payment process, hospitals will reduce costs to collect, reduce patient bad debt and accelerate patient payments.
For over two decades, ESI Healthcare Business Solutions (ESI) has helped public hospitals and academic medical centers strengthen business health, resulting in improved patient care and access as well as lower healthcare costs. By integrating a diverse suite of financial and administrative products and services, ESI has become a preferred safety-net partner and has provided solutions to more than 200 hospitals nationwide, qualified over 3.5 million patients for third-party assistance and generated more than $8+ billion in additional revenue for our clients. ESI delivers scalable and customized solutions focused on end-to-end revenue cycle management, pharmacy management and contract administration management. The company offers clients an unparalleled perspective grounded in years of experience. ESI's team of subject matter experts, coupled with proven process and technology, help clients maximize financial performance and achieve performance improvements. For more information on ESI, please visit www.esihealthcaresolutions.com.
InstaMed’s Healthcare Payments Network transforms the business of healthcare by connecting healthcare providers, payers and patients for highly secure and mission critical communications, administrative transactions and payments. Leveraging a single, integrated network in its private cloud, InstaMed supports healthcare clearinghouse, eligibility, estimation, patient and payer payment and patient billing transactions. InstaMed’s solutions deliver payment assurance to providers, enable payers to disburse payments at a lower cost with fewer incidents of fraud, and give patients a simple, convenient and secure way to pay. The InstaMed Network powers healthcare payments for over 200,000 providers nationally with tens of billions of dollars in healthcare payments processed. Visit InstaMed on the web at www.instamed.com.
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