electronic billing company Paytus We have started a partnership with Altera Digital Health.
of new contract Paymentus’ electronic bill presentation and payment platform will be added to Altera’s suite of healthcare IT solutions, the company announced Thursday (Sept. 26).
“Medical billing is a historic pain point for patients and providers alike.” dushyant sharmaPaymentus founder and CEO said in a news release.
“Together with Altera, we are delivering a modern and convenient Paytus customer billing experience to healthcare providers and patients as a component of our healthcare IT platform, resulting in improved patient satisfaction and more efficient and secure back-office operations. We will continue to promote this.”
With health care costs remaining the nation’s largest source of personal debt and many providers struggling with high patient balances, Paymentus and Altera together will help providers access patient claims information more quickly. They say they can offer it and get paid faster.
“Healthcare providers around the world use Altera solutions to deliver coordinated, comprehensive care to their communities,” he said. Jay AdamsAltera’s group leader. “Healthcare providers want to offer the simple and flexible payment experience that patients expect in all areas of their busy lives as part of their care.”
Their words are backed up by recent research from PYMNTS Intelligence, which shows that the healthcare sector remains weighed down by outdated payment processes that threaten financial stability.
“Despite the promise of digital solutions that improve efficiency and patient experience, the industry has been slow to adopt these innovations,” PYMNTS wrote earlier this week. with reference to PYMNTS Intelligence/American Express Report, “Pain and Gain: Overcoming Healthcare Payment Problems.”
This report highlights inefficiencies in healthcare payment and shows how digital transformation can bring relief.
According to the report, more than half of healthcare payments leaders are concerned about delays in processing payments and claims and consider this an operational risk. And while 80% believe streamlining these processes is important, only 53% of them have automated their workflows, indicating that relying on manual methods leads to errors and lost revenue. It shows what is causing it.
“consider 84% of organizations PYMNTS reports “financial losses due to outdated accounts receivable processing processes, with 85% recognizing an urgent need to improve the payment experience, highlighting the need for a comprehensive review” ” he said.
according to Traditional paper statement Collection delays may become even worse. He said nearly 70 percent of health care providers still use paper to communicate with patients, which is “an outdated practice that not only hinders timely work.” collection, But it also prevents healthcare providers from taking advantage of the increased efficiency that digital payment solutions can bring,” the report states.
