Convenient payment platform engages patients the way they prefer to speed payment, reduce staff workload and enhance the patient financial experience
SAN DIEGO, June 26, 2023 /PRNewswire/ — ClearBalance HealthCare® unveiled its new patient financial engagement platform, Doorstep by ClearBalance™, at the annual Healthcare Financial Management Association (HFMA) conference today. Doorstep by ClearBalance unites disparate patient billing, payment options and payment methods into a single, digital environment that gives patients a consolidated bill and appropriate payment options.
Doorstep leverages over 31 years of ClearBalance patient payment and communication analytics. With Doorstep, health systems provide patients a personalized digital experience so they can pay their bill quickly and easily. Doorstep engages patients when and how they want with a platform that reflects how 85% of consumers prefer to pay bills today. Bringing patients right to its “doorstep” positively affects their experience and enables a health system to improve its revenue cycle operation.
ClearBalance has a proven ability to engage patients in the right way, at the right time, with the right payment option to get the fastest patient reimbursement. In fact, ClearBalance recovers an average of 90 cents on every dollar financed — double what most health systems recoup on their own. And ClearBalance does this while improving the patient experience. Patients consistently give ClearBalance and its health system partners satisfaction and loyalty ratings of 99.9% and 90%, respectively.
“Patients want a simple, convenient process that gives them the ability to review and pay their bill with one tap,” said Ray Freedenberg, CEO of ClearBalance. “At the same time, providers need a better way to manage staff resources and increase cash collections. Doorstep by ClearBalance is the answer.”
Nearly 40% of consumers would change their payment channel or method for a faster, more convenient payment experience, according to a study by ACI Worldwide. Doorstep appeals to health systems because it offers an elevated patient financial experience while also increasing collections and creating operational efficiencies, including:
- 15-20% increase in patient payment
- 15-20% decrease in collection costs
- 25-30% reduction in paper statement costs
- 25% reduction in call volume
“Doorstep reflects our ongoing commitment to empower healthcare providers with consumer engagement solutions that enable them to increase revenue recovery while also ensuring patients can afford the care they need to lead healthy lives,” said Freedenberg.
About ClearBalance HealthCare
ClearBalance HealthCare partners with health systems nationwide to provide consumer-centric patient financing that makes care affordable. Our data-driven approach delivers higher patient adoption and greater patient repayment, which, in turn, lowers bad debt and increases cash flow. ClearBalance is rated #1 for patient financing by Black Book Market Research, #1 for Best Financial Value by KLAS, has been HFMA Peer Reviewed since 2015 and is HITRUST, Soc2 Type 2 and PCI certified. Patients consistently give ClearBalance and its health system partners satisfaction and loyalty ratings of 99.9% and 90%, respectively. ClearBalance.org.
Contact: ClearBalance HealthCare
SVP, Product & Strategic Marketing
SOURCE ClearBalance HealthCare