Healthcare providers aim to deliver exceptional care, but rising economic pressures make that goal increasingly challenging. Patient balances over $7,500 tripled between 2018 and 2022 leaving many healthcare providers chasing down payments from patients. As a result, hospitals lose millions annually in unpaid bills and write-offs, while uninsured and underinsured patien...
The U.S. healthcare affordability crisis hurts patients and hospitals, with rising costs and closures straining communities. In this article, PayZen CEO Itzik Cohen shares how patient-centric financial solutions and AI-driven technology can ease financial burdens, improve cash flow, and enhance patient care access.
Building a high-performance startup culture is critical for sustained success and growth. In this article, PayZen CEO Itzik Cohen shares actionable insights on aligning teams around a mission, fostering open communication, and focusing on key metrics to scale effectively and drive business performance.
At PayZen, we’re dedicated to tackling healthcare affordability through innovation. We’re excited to welcome Jillian Souza as our new Vice President, People. Jillian brings extensive experience in people strategy and organizational development to lead initiatives that foster an inclusive culture and drive our mission forward.
Marshall Medical Center partnered with PayZen to ease staff workloads and enhance patient payment experiences. In the first nine months following implementation of PayZen's patient financing services, the hospital saw $1.2M in incremental patient payments, reducing bad debt and boosting its financial stability. Read the case study to learn how Marshall Medical Center: Improved patient engagement: Marshall increased patient sign-ups for affordable patient pay...
As their share of payment responsibility rises, patients increasingly require extended terms or additional support to cover self-pay balances. On their part, providers are seeing a rise in bad debt and an increasing administrative burden associated with administering financial assistance policies and collecting patient payments. On top of this, new Consumer Financial Protection Bureau scrutiny and state-level regulations have emerged around patient financing, extraordinary collection actions,...
This engaging session centers around UTMB Health’s recent successful initiative to increase transparency and flexibility of patient payments while simultaneously improving patient revenue capture. Hear from Emily Goertz, UTMB’s VP of Revenue Cycle, on her team’s decision to look externally for a patient financing solution, the importance they placed on automation and patient-friendliness, and their resulting success in increasing both pre-service and post-service collections.
