FlexPay® integrates multiple payment channels, flexible payment options and payment estimation technologies which increase patient satisfaction while transforming the healthcare patient payment cycle.
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.
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!
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.
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
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
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