Navicure, a healthcare billing and payment solutions provider for hospitals and billing companies, has unveiled a latest patient payments platform, Navicure Payments.
Designed to enable healthcare organizations to estimate patient payment amounts, the software offers efficient and effective collection of those payments.
Leveraging Navicure Payments, the healthcare organizations can slash bad debt and the expenses associated with patient collections, while boosting cash flow from patient accounts.
The new tool also helps healthcare firms to collect the entire amount owed from patients, and makes the process faster and easier than many traditional patient collections models, the company claimed.
Navicure Payments users can estimate patient financial responsibility at the time of service without having to enter or manage complex payer contracts, providing patients with price transparency.
In addition, they can secure patients’ commitment to pay at the time of service, thereby decreasing future bad debt write-offs, enabling organizations to configure payment plans that can run automatically and conform to established guidelines.
The tool also helps in collecting previous balances or co-pays before service via debit, credit or ACH payments, improving accounts receivables.
Navicure co-founder and CEO Jim Denny said: "Patients are now among the healthcare industry’s largest payers, in some cases surpassing Medicare and Medicaid.
"Throughout our history, Navicure has been dedicated to helping organizations collect more revenue from payers faster and with less effort.
"Now we’re doing the same with regards to collecting from patients with the launch of Navicure Payments."