Spend time in any coffee shop, bus stop, or anywhere else for that matter, and notice the people around you. Chances are, one of the first things you’ll notice is how often and how long people use their phones.
Smartphones aren’t just everywhere. They are today’s universal communication device, the equivalent of the mailbox, the television, the newspaper, and the radio, all in the palm of the user’s hands. They’ve changed the world. Which means they are changing medical billing. That’s because, more and more, smartphones are how your patients manage their money in the digital age.
And Vaytiv provides you with the cutting-edge answer to help them enjoy more convenience while giving you lightning-fast cash flow.
It’s easy, it’s incredibly cost-effective, and it’s absolutely secure. Pay by Text/Email is the ideal way for your practice to keep up with how your patients live. It easy, it’s incredibly cost-effective, and it’s absolutely secure.
When your bill is sent in the form of a text, your patient sees it. Instantaneously. No relying on the postal service. No statements getting lost in the pile of catalogs and flyers that arrive in the patient’s mailbox every day.
Instead, your billing is just a text that arrives at their phone. You even get confirmation that they received it, which means you have important records in the event of later collections.
That’s the beauty of Pay By Text/Email from Vaytiv. It’s instantaneous. It’s inexpensive. Vaytiv provides you with a record of receipt. And, best of all, it means an incredibly fast turnaround on patient payments.
In fact, Text Statements with a Pay by Text link yield a 45% higher response rate than direct mail. Why? Pay by Text is simple and makes it easy for your patients. In fact, you’ll see some payments come in the very same day your statement goes out. That completely transforms your billables. After all, when it comes to payments, faster is always better.
Texting has a 45% higher response rate than direct mail for a safe and simple solution to billing.
Best of all, it’s painless and easy for everyone. If your patient opts in to Pay By Text/Email, they will receive a text notification confirming that they have signed up for paperless billing. Once confirmed, the next text statement they receive will include a link for the patient to pay the bill using their credit card information. That way, both the patient and you know the transaction was successful and recorded securely.
For all future patient statements, he or she is sent a text confirming desire to make the payment. And the patient can opt out of Pay By Text/Email at any time without having to call the practice. With all data in a secure, cloud-based server, practice and patient alike can rely on security that passes any regulations. All so you can rest more easily at night.
It’s that simple. No stamps. No printing. No envelopes. No waiting at the mailbox. No processing checks. No deposit slips. It’s the perfect solution for practices like yours.
What’s more, Pay By Text/Email offers other helpful advantages to your practice. Advantages that improve your cashflow and workflow at the same time.
Send the bill by mail and then wait for the check to arrive, and you’re waiting a long time for your money. Often weeks before you see your money. Instead, with Pay by Text/Email, you’ll see a large number of patient payments hit within one week or less.
Even if you don’t get an instant payment, Pay by Text/Email prompts dialog between you and your patient, often either paying by phone or paying on installment. Either way, you get your money more quickly.
Hey, everyone forgets a bill from time to time. The challenge is to prompt the patient to pay without hurting your relationship. Whether a patient forgets to pay or has postponed payment, Pay by Text/Email serves as a polite, yet an immediate reminder that the patient’s account is now past due. Best of all, these reminders deliver at a fraction of the cost of sending monthly statements, at an even smaller fraction of the turnaround time for payment one sees with paper statements.
There are patients who, for whatever reason, are slow pay or no pay. For those few patients who pose issues when it comes to timely collection, Pay by Text/Email provides you with an ideal way to record when your statements were received—and seen—down to the second. No more claims that your statement was never received. And confirmation you and your staff were conscientious in keeping the patient informed of balances due.
Are you ready to bring your practice to the forefront of financial management? Then Pay by Text/Email is the ideal way to do it. Contact us today to learn more. And hang up on slow payments forever.
