Phreesia Helps Medical Practices Improve Collections with New Payment Plan Application
Industry-Leading Patient Check-In Solution Gives Patients Flexible Options to Pay for Care
NEW YORK, N.Y. and Orlando, Fla.—Feb. 22, 2011—Phreesia, the leader in patient check-insolutions, today announced that it will help practices offer patients more flexible payment options with the introduction of the new Phreesia Payment Scheduler. The application enables practices to offer payment plans for patients at check-in and check-out, ensuring that doctors get paid on time and in full. Officially available in March 2011, Phreesia is offering a “first look” demo of the new Phreesia Payment Scheduler application this week at the Healthcare Information and Management Information Systems Society Conference (HIMSS, booth #918).
Phreesia is the first company to give patients the flexibility to choose a payment plan while checking in at their physician’s office. As patients check in on the PhreesiaPad, those carrying a balance will be presented with payment plan options, predetermined by the practice. Patients can choose the payment amount and frequency that makes sense for them and their budgets, and pay directly on the PhreesiaPad with a credit or debit card. Pre-authorized payments will be automatically charged and deposited into the practice’s account each month for the duration of the plan.
“By listening to practice managers, we found there was a market need to offer patients a flexible, more convenient way to make their healthcare payments without increasing the burden on the practice staff. Starting this spring, Phreesia will meet this need,” said Chaim Indig, Phreesia’s CEO and co-founder.
Phreesia’s self-pay capability allows patients to conveniently pay their copays and outstanding balances using an integrated card swipe right on the PhreesiaPad. Since adding this capability in 2010, clients using payment services with Phreesia have seen a 10 percent average increase in collections.
According to industry reports, 25 percent of medical practice revenue comes directly from patients—and the proportion is growing. Patients now pay more than employers in healthcare costs, including non-covered services and out-of-pocket expenses. The latter category is the fastest-growing portion of unpaid debt, yet surveys suggest that 92 percent of insured consumers are both able and willing to pay.
Phreesia is the nationally recognized leader in patient check-in. By automating patient intake, the PhreesiaPad allows medical practices to collect patient information effortlessly, verify insurance and collect payments at the point of care. Phreesia delivers fully interactive content direct to patients, and is designed to interface with clinicians’ existing and future technology. Phreesia is committed to enhancing the patient experience and enabling clinicians to stay at the forefront of patient care. For more information, visit www.phreesia.com.