Etactics and mobile payment application Papaya Payments to help practices and organizations decrease overall Days Sales Outstanding (DSO) and increase cash flow by streamlining the patient payment process.
The Old, Tedious Process
In the past, the process of sending and receiving statements was both tedious and costly in nature. First, a practice or organization labors to design a statement that, unfortunately, is not well formatted nor easily explains what amount owed is the responsibility of the patient. Secondly, the practice or organization incurs significant costs to place a statement in a patients hands hoping that they pay within the predetermined term. Finally, after receiving the statement, a patient is frustrated about having to write a personal check to settle their account balance and not being afforded alternative payment methods.
The New, Streamlined Process
With Papaya Payments assistance we’ve reduced the time it takes to receive payment on all patient statements. Paired with intelliStatement®, a practice can now allow a patient that receives a printed and mailed statement to download the free Papaya Payments app, take a picture of the statement using their smart device, and choose their preferred method of payment.
While the Papaya app is simple to use, there is a lot of technology behind it. They leverage computer vision, self-learning algorithms and payment automation techniques to make sure that every payment is finalized.
To learn more about how we've streamlined the patient payment process, download our brochure by clicking the button below.