ST. PAUL, Minn., June 19, 2018 – Apex Revenue Technologies, the leader in patient financial engagement solutions that leverage insight into how patients pay, today announced expanded capabilities for self-service payment plans for patients, which are fully integrated with all Apex payment modalities and provider practice management systems.
In a survey conducted by Apex Revenue Technologies and Keypoint Intelligence (formerly InfoTrends), 49% of patients indicated that payment plans and other financing options would help them act to resolve their balance more quickly. Apex’s enhanced payment plan solution helps providers offer more flexible solutions in response to the financial challenges of their patients, allowing patients to set up their own plans based on recommended terms, or customize a plan based on their unique needs.
In addition, the solution keeps total balance owed and payment plan status in synch with all practice management systems, which provides clarity and convenience for the patient, and minimizes administration for providers.
“Providers are seeking more flexible ways to help patients meet their financial obligations, but revenue cycle leaders have told us it can be a challenge to manage payment plans given the dynamics of healthcare services and billing cycles,” said Patrick Maurer, president of Apex Revenue Technologies. “Through personalization and automation, Apex’s insightful approach to payment plan utilization provides greater clarity and convenience for everyone involved.”
Benefits of Apex’s personalized payment plans through mySecureBill®, Apex’s award-winning patient payment portal, include:
- Minimizes financial touch points for providers through self-service
- Provides a hassle-free method for patients to fulfill their financial obligation
- Delivers a consistent and clear payment plan experience across multiple practice management systems
- Automation drives high compliance on payment obligations
- Customizable parameters help providers meet the unique business goals of their organization, including revenue acceleration, bad debt reduction, and cost containment
Together with the company's behavioral analytics engine, Apex Connect™, the payment plan solution enables providers to promote payment plan options on patient statements and online based on the needs of the patient and the needs of the business. By offering payment plans more strategically, one provider has increased payment plan enrollments by 39% and more than tripled recurring payments to help patients keep their obligations, which has contributed to revenue improvements of more than $1.1M on an annualized basis.
To learn more about how Apex combines its visionary patient communications and payment platform, visit www.apexrevtech.com or follow Apex Revenue Technologies on LinkedIn. You can also visit Apex at the Healthcare Financial Management Association (HFMA) National Conference in Las Vegas, NV, June 24–27 in booth #139.
About Apex Revenue Technologies
Founded in 1995, Apex Revenue Technologies (www.apexrevtech.com) is the leader in healthcare technology solutions that leverage insight into how patients pay to improve financial outcomes for providers and patients. The Apex solution combines a broad range of electronic payment, statement processing, multi-channel messaging, and analytic services. Apex’s innovative approach promotes patient financial engagement by personalizing the patient financial experience to increase payments, control costs and improve the patient experience. Our award-winning, cloud-based Patient Financial Engagement platform was built from the ground up to provide a seamless experience for patients—and flexible, flawless execution for our clients. Apex serves more than 15,000 locations across the US, both directly and through a strong partner network. To learn more, visit www.apexrevtech.com.
Kristen Jacobsen, Apex Revenue Technologies
(651) 259-4636; KJacobsen@apexrevtech.com