According to a study conducted by the American Journal of Public Health (American Journal of Public Health), 66.5% of all bankruptcies were linked to medical issues due to high care costs. With the pandemic continuing to affect patients’ finances and with many enrolled in high-deductible health plans (HDHP), patients must have the flexibility to pay from multiple payment channels and access reasonable payment plans.
That said, we are excited to announce our recent partnership with SmartHealth PayCard™ to help healthcare providers expand their patients’ options to pay for their out-of-pocket medical costs. SmartHealth PayCard’s Mastercard® credit card, designed exclusively for healthcare expenses, will integrate with SYNERGEN Pay, SYNERGEN Health’s billing and payment collection platform. This partnership enables patients to apply for and quickly access a revolving credit line of up to $30,000 to take care of balances owed to their providers, as well as save up to 85% on prescriptions, and access $10,000 in accidental insurance.
At a time when providers are faced with falling revenues and are increasingly struggling to collect on outstanding balances from patients, SYNERGEN Health is empowering patients with a simple-to-use, patient statement delivery and online payment portal that streamlines patient collections from pre-visit scheduling to post-visit follow up. SYNERGEN Pay currently handles over 150,000 statements per month, which has resulted in an increase in patient collections by approximately 300% in some cases.
From SYNERGEN Pay, patients can view statement balances, payment options and apply for the SmartHealth PayCard Mastercard. After a swift approval process, patients will receive a card number that allows them to make payments online or over the phone to any health practitioner that accepts Mastercard, regardless of the provider network.
When we developed SYNERGEN Pay, we designed it to help providers collect payments at anytime, anywhere – from a computer or mobile device allowing patients to pay their deductibles even on the go. Not only does SYNERGEN Health improve business outcomes by increasing organizational cash flow, SYNERGEN Pay streamlines processes related to billing collections and can reduce staff burnout. For more information about the SmartHealth PayCard, visit: https://www.smarthealthpaycard.com/. For more information about SYNERGEN Pay, visit: https://www.synergenhealth.com/synergen-pay