Billing transparency and efficiency in healthcare is a top challenge for providers and pharmacies alike. Today, software innovation is having a profound effect on healthcare finance and communication systems and effective changes to improve these challenges are taking place. And, SaaS companies are playing a major role with solutions that increase the speed and ease of payment as well as the process by which pharmacies conduct communications with patients.
Healthcare providers and patients both benefit from modern technology, as is evident by the wonderful advancements seen in medicine. But when it comes to payments or the billing and communication systems, most are subpar. This is where modern SaaS companies have the technologies that can help pharmacies take the next step in management and ongoing successful communication with patients.
While there are many ways in which software companies can serve pharmacies, today we’ll focus on four tech innovations:
- Batch Invoicing with Text Reminders – Pharmacies can save money going digital in comparison to traditional billing. Batch invoicing with text reminders enables many patients to be invoiced at once with text reminders about past due balances or payment plans making it easier to bring unpaid accounts current. These types of transactions also cost the pharmacy less and payments can be directly integrated into their systems.
- Co-Pay by Text with Appointment Text Reminders – Patients can make their co-pay more easily and pharmacists get paid faster. As a bonus, digital reminders are a great way to ensure that patients don’t miss a required visit. Text messaging is the preferred form of communication by most today, so it’s essential that pharmacy and medical interaction be available in that format. What if a co-pay could be handled with just a quick text message? Or if reminders of an upcoming appointment or prescription being ready came via text? For many, that’s already a reality.
- HIPAA-Secure Texting with Patients – Software solutions available today are HIPAA-secure when it comes to texting with patients – meaning protected patient health information is safely stored. Keeping the conversation open means more engagement and fewer high-level agreements to avoid the use of contracts and additional expenses.
- Care Now – Pay Later Plans – While payment plans can vary based on each individual and their needs, they benefit both healthcare businesses and patients. Simple software tools can be utilized to create auto-pay subscriptions for regular medical visits. Individual payment plans can also make it easier to pay medical expenses when the patient is able. Pay Later plans have become increasingly popular–Surveys show that 58 percent of Americans cannot afford a $500 emergency medical expense.
New sources of software technology can help healthcare businesses and pharmacies to better care for their patients and themselves. The more they can utilize new technology, the happier their patients are and the sooner they get paid. Innovative technology is in demand and there’s no end in sight.