Simplified Patient Payments that Improve Collections

Streamline front-office registration and collect more patient payments with our in-app credit card processing that allows your office staff to work more efficiently and accurately. Collect more co-pays, deductibles, and co-insurance amounts directly within CollaborateMD. This integration means no switching between systems, no manual reconciliation, and no payment posting delays, accelerating your cash flow while reducing administrative time.

CollaborateMD lets you automatically generate and send daily or monthly statements via email, text, or mail. Each statement can be successfully tracked within the interface, giving you complete visibility into patient communication. Statements align with HFMA Patient-Friendly Billing guidelines, making bills easier for patients to understand and reducing confusion that leads to payment delays. This not only saves your staff time and costs but also ensures patients receive timely billing information for faster payments.

As of January 2022, the No Surprises Act (NSA) requires certain providers to give patients accurate pre-visit cost estimates for scheduled services and negotiate any difference between the estimate and final bill. CollaborateMD’s Patient Responsibility Estimator generates accurate estimates based on eligibility information and service details, which can be sent electronically or on paper to meet NSA compliance requirements. This feature improves the pre-visit and post-visit experience by providing price transparency, reduces surprise billing disputes, and allows you to collect payments upfront or arrange payment plans before insurance adjudication.

Prompt-pay discounts incentivize patients to pay quickly by offering a discount if they settle their balance within a specific timeframe after their first statement. CollaborateMD allows you to set up automatic discount codes that apply when patients pay within your defined window, either electronically or on paper statements. This strategy reduces accounts receivable days, saves on subsequent statement and collection costs, lessens patient financial burden, and helps you collect more at time of service so you can turn outstanding balances into immediate revenue.