Electronic Payment Processing

Features

• Full Integration

  FlexPay® is fully integrated with most Practice Management Solutions:

  • All payment transactions are linked to a patient account.
  • Payment transactions and patient account balances are updated daily to achieve real-time balances in both solutions.

• Cost-Neutral

  FlexPay® is “cost-neutral” for your practice. PracticeMax will analyze your most recent Merchant Processing statements and will match that fee for all FlexPay® services.

  That means additional services.. at no additional cost!

• Flexible Automated Payment Options

  A menu of flexible payment options in conformance with your practice’s financial policies designed to maximize cash-flow and enhance patient satisfaction.

  • Post-date an automated payment card or ACH payment.
  • Three distinct automated payment options:

  o Account Receivable plan: A regularly scheduled payment in a defined amount to be auto-processed until the balance is paid-in-full.

  o Estimation of Benefit plan: Estimate the patient’s responsibility using FlexPay’s® estimation tool, collect the co-pay and establish an automated payment plan for the estimated balance. Once the Explanation of Benefits is received, FlexPay® will auto-adjust the plan to the patient’s actual responsibility and the automated payment processing will begin.

  o Account on File (AOF) plan: For practices with recurring patient visits, FlexPay® will automatically process a single payment against each encounter/visit up to the lesser of the actual patient responsibility or the recurring amount that the patient has authorized.

• Instant Eligibility and Payment Estimation

  Quickly and accurately confirm commercial and governmental insurance eligibility and estimate the patient’s financial responsibility.

  • FlexPay’s® eligibility confirms benefit enrollment and returns in-network and out-of-network:

  o Real-time deductible status

  o Co-Insurance requirements

  o Co-Pay responsibility (specialty specific)

  o Status of annual Out-of-Pocket

  • Estimation criteria includes:

  o The above eligibility data and the payer specific CPT allowable

• Multiple Payment Channels

  Web-based platform with multiple secure payment channels to process all payment cards and ACH/eChecks drawn on checkings or savings accounts.

  • In-person payments: Card swipe/chip reader
  • Professional bilingual Patient Services Representatives who:

  o Take payments

  o Explain statements

  o Offer flexible payment options to maximize collections and reduce patient anxiety

  • Practice specific secure web-based patient payment portal
  • Text-to-pay options
  • 24-hour automated phone payment

• Robust Patient Portal

  The online payment portal increases awareness by allowing patients to:

  • Ability to go green with online statements
  • Make payments
  • Create payment plans
  • View statements and account history
  • View payment agreements