Medical Articles & News

What Is the FinPay Pre-Care Solution?

January 11, 2023 by Christopher Wolfington
Tags: Patient Financial Management, Healthcare Consumer Experience

For many people in America, the U.S. healthcare system is frustrating, overly complex, opaque, and expensive. The intersection of patients, healthcare providers, insurance providers, drug companies, and governmental regulations is not well managed or streamlined and most often manifests in medical debt for patients and inefficient revenue collection for healthcare providers.

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What You Should Know About FinPay

December 21, 2022 by Christopher Wolfington
Tags: Patient Financial Management

FinPay offers payment solutions to maximize the payment financial experience. The healthcare experience for most Americans can be complicated and confusing, especially with regard to paying for treatment. Many people forego needed treatment due to uncertainty over the total cost, and unexpected medical charges place many others in strained financial situations. What to know about FinPay is that we provide automated patient engagement to deliver the cost transparency, education, and affordable payment options patients need to understand and afford their financial responsibility.

The benefits of automation through our integrated software solution can lead to better relationship outcomes for patients and providers as each gains a better understanding of the financial engagement experience. Contact info@finpay.com for more information.

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3 Most Common Challenges When It Comes to Patient Financial Responsibility

November 23, 2022 by Christopher Wolfington
Tags: Patient Financial Management, Healthcare Consumer Experience

It is no secret that the cost of healthcare in the United States is high. What may be less well known are the significant challenges in patient financial responsibility people face in meeting those costs. For patients, three of the most common challenges to meeting medical bills are:

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How To Give Your Patients The Best Consumer Experience in Healthcare

August 3, 2022 by Christopher Wolfington
Tags: Patient Financial Management, Patients

The American healthcare system is a nightmare for most consumers. Patients often are left to navigate complex and confusing insurance plans in a frustrating attempt to understand coverage and co-pays. For providers attempting to deliver healthcare but also run a business, they are largely unaware of the patient's financial experience. They generate a bill, collect co-pays, file insurance, and ultimately pursue collections of outstanding patient financial responsibility.

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There's A Better Way To Handle Your Patient Pay Solutions

April 13, 2022 by Christopher Wolfington
Tags: Patient Financial Management

The American healthcare system is a nightmare for most patients. Navigating healthcare costs is almost impossible due to the lack of transparency, changing insurance fee schedules, and a general lack of financial knowledge among patients. 

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Top Ways FinPay's Patient Financial Management Can Help Your Rehab Center Grow

March 22, 2022 by Christopher Wolfington
Tags: Patient Financial Management, Provider

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How Much Does Financial Experience Impact Patient Retention?

March 11, 2022 by Christopher Wolfington
Tags: Patient Financial Management, Patients, Payment

Healthcare, including behavioral healthcare, is a highly complex environment for patients and it normally does not deliver a pleasant patient financial experience. Complicated bills, mountains of paperwork, and no one is there to help you navigate the chaos; and then there are the collection calls.

Obviously, Healthcare needs a new playbook when it comes to patient financial management. Unfortunately, in most healthcare companies there is no patient financial management department, or even a Director, manager, or Vice president of Patient Financial Management. In more simple terms, healthcare is broken down into three segments, admission, clinical care, and billing. Each segment has a primary objective, unfortunately being responsible for the patient’s financial experience isn’t one of them. If no one within the healthcare system owns patient financial management from start to finish, the patient financial experience will always be something less than.

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Revenue clarity in 2020, 4 Ways Hospitals Can Save Money

February 27, 2020 by Christopher Wolfington
Tags: Medical Articles, Medical, Patient Financial Management

Take it from the politicians: healthcare is an economic issue. In fact, it’s one of the most important ones.

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Understanding the Difference Between Patient Financial Management and Revenue Cycle Management

December 31, 2019 by Lauren Anderson (COO)
Tags: Our Blog, Patient Financial Management, Patients, Payment, Provider, Collection

Every healthcare executive is familiar with the term revenue cycle management (RCM), but surprisingly few know what patient financial management (PFM) is. That is truly unfortunate because patient financial management is a system of revenue planning grounded in transparency and preparation that has been proven to convert nearly all unrecoverable patient financial responsibility. PFM companies like FinPay have demonstrated time and time again that their innovative pre-care patient engagement strategies work. 

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In the New Year Deductibles Reset, How Will You Prepare to Operate at a Loss?

December 30, 2019 by Lauren Anderson (COO)
Tags: Our Blog, Patient Financial Management, Article

It is almost 2020, which means a new cycle of patient delinquency for most health care organizations. As the calendar resets, so too do the health plans of most U.S. households, leaving them with an enormous financial responsibility—their annual health plan deductible. For many families, this deductible makes medical care financially unviable and forces them to delay or completely forego making payments to providers or seeking care at all.

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