DURHAM, N.C.--(BUSINESS WIRE)--PatientPay, the leading patient payments partner for acute, ambulatory, and specialty care, today announced customer success from its partnership with WebPT, the leading rehab therapy platform for enhancing patient care and fueling business growth. The partnership has enabled physical therapy and rehab groups across the country to maximize financial performance and patient payments by integrating PatientPay’s billing and payment technology with WebPT’s Insight.
Through this integration, Integrated Rehab Group (IRG)—a group of over 35 physical therapy clinics in the Northwest—was able to quickly double daily payments. In an interview with RevCycleIntelligence, Janet Carbary, CFO for IRG, notes, "We essentially doubled our daily collections, and our cash collections have stayed at that level for the last seven months. We are still seeing patients pay sooner and with fewer questions.”
2022 marked the worst financial year on record for many healthcare organizations, and given rising expenses and workforce shortages, financial pressure is likely to continue through 2023 and beyond. For groups like IRG, this intensifies the need to capture more payments as fast as possible. PatientPay uniquely leverages easy-to-understand statements and digital billing strategies to encourage patients to pay their bills quickly.
By integrating this payment information with WebPT’s Insight, Central Nebraska Rehab, a 16+ location physical, occupational, and speech therapy group:
- Collects 40% of electronic payments within the first eight days of bill notification, before a paper statement is produced, reducing time and costs
- Receives 80% of card payments from patients without involving office staff
- Deploys text-based bill communications as soon as the patient balance is generated—with many corresponding payments executed within a couple minutes instead of a couple weeks
“For healthcare finance executives and practice managers, it’s critical that your patient payment solution integrates with your organization’s EHR and billing system. For specialties with recurring visits especially, you cannot have accurate balances if this payment information doesn’t flow bidirectionally,” says Tom Furr, CEO of PatientPay. “In collaboration with WebPT, we’ve been able to deliver great results for many of our shared clients in physical therapy and rehab groups.”
To learn more about PatientPay, visit them at WebPT’s Ascend conference, Sept. 21-23, 2023.
PatientPay partners with specialty care medical groups and facilities to drive patient payments at every step of the visit. As patient financial responsibility grows, specialty services such as long-term care, physical therapy, radiology and anesthesiology rely on PatientPay to get paid fast and in full. Ultimately PatientPay aims to extend the patient experience with enhanced overall patient satisfaction through matching with EOBs, flexible payment options, and custom communications. To learn more about how PatientPay guarantees results for its clients, contact firstname.lastname@example.org