At PayZen, we see the traditional approach to patient financing and collections as a key cog in a vicious cycle that drives down hospital revenue and drives up the cost of care. The lack of affordable, transparent bill payment options means fewer patients receive and pay for care, which tightens hospital margins and passes cost on to patients.
By investing in affordability solutions at the point of payment, we can turn this vicious cycle on its head: more manageable payments mean more affordable care for patients and improved collections for hospitals. The infographic below explores how innovative technology used to offer personalized, affordable payment options can not only break this vicious cycle, but transform it into a virtuous one.
Read more about how PayZen’s affordability solution transforms the patient collections cycle in this blog post.