Optimizing patient responsibility collections is an absolute priority. Here's what you need to know to make the best choice.
Tony MarySeptember 26, 2022
Revenue lift & cash acceleration for providers. Affordability & peace of mind for patients.
Why is the average collection rate on patient billings just 20%?
It’s not a willingness to pay problem, it’s ability to pay – the payment options from providers, RCM vendors, and early-out vendors just aren’t affordable for most patients. The “tried and true” solutions aren’t enough.
We created PayZen to help solve healthcare affordability, with a new and modern approach that creates a win-win for patients and providers: We use data and AI to create individualized patient payment plans that families can afford, and we fund providers up-front for all billings regardless of a patient’s credit score, 100% non-recourse.
Providers get a much higher collection rate with accelerated cash flow. Patients get affordable access to care, and peace of mind. No software costs or program fees for providers, no interest charges or fees for patients.
Think that sounds too good to be true? Think again. Read on to see how it works, and how PayZen can work for you.
Patient Access &
Improved Financials
Using PayZen, hospitals have dramatically increased patients’ access to healthcare while improving patient collections by 30% to upwards of 50%.
A World-Class
Patient Experience
100% of your patients are approved for a 0% interest, no-fee payment plan. Our plans are simple, transparent and we treat patients respectfully throughout.
Hassle-Free Integration
& Administration
PayZen easily integrates into a hospital’s revenue cycle systems and processes without any IT cost. It’s easy to use for patients, and turn-key for providers.
Promote Patient
Loyalty
Truly affordable payment options help you strengthen relationships and maintain volumes. You’ll increase patient loyalty and boost your brand.
Post-Service: personalized Care Now Pay Later plans
PayZen provides individualized patient payment options with plans up to 60 months, no interest or fees. All patients are eligible and provider funding occurs at first payment, 100% non-recourse.
Pre-Service and Recurring: personalized Care Card
Ideal for pre-service payment, pharmacy, and recurring care scenarios. The Care Card lets patients get care now and pay over time, helping care avoidance and promoting population health. Balances automatically convert to personalized, zero-interest payment plans.
PayZen helps hospitals, health systems, and physicians groups of all sizes
What providers and patients say about PayZen
Resources
Below are a few resources to help you get to know PayZen and affordability financing. Click the link to explore press coverage, industry recognition, news and more.
Recent efforts no doubt benefit those Americans struggling with medical debt, but they do nothing to help them afford care in the first place.
Bill KramerSeptember 12, 2022
More than 90% of Americans have some form of health coverage, according to the Peterson-KFF Health System Tracker. So why does medical debt continue to grow? A recent JAMA analysis shows that the rising cost of healthcare, increased cost sharing,…
PayZenAugust 11, 2022
See it for yourself with a personalized demo.
Patient affordability and instant collections lift with no cost, only upside? Some of our clients had to see it to believe it! Once they did, they were all in. We’d love to show you PayZen in action, and answer any questions you have. It’s fast and easy, and we promise you’ll love what you see.
