As a result of the COVID-19 epidemic, patients and medical professionals are becoming more acclimated to digital intake and follow-up processes.
FREMONT, CA: Modernizing Medicineunique's processing solution, modmed Pay, has formed integration with Klara, the leader in patient engagement solutions. modmed Pay connects patients, doctors, and financial institutions to streamline the payment process. Modmed Pay users will gather patient credit card information digitally, process credit card payments for outstanding amounts, and eliminate no-shows using the new interface.
As a result of the COVID-19 pandemic, patients and medical professionals are becoming more acclimated to digital intake and follow-up processes.
According to studies, even though 60 percent of patient payments are done online, credit card information is collected over the phone and during in-office visits. It can result in longer patient wait times, additional work for employees, and more significant outstanding amounts.
"More and more practices today are starting to collect consent forms, insurance information, patient satisfaction surveys and other documentation through automated messaging," said Simon Bolz, co-founder, and co-CEO of Klara. "When we took a step back, a lightbulb went off — payment processing was the missing piece. We realized that there was an opportunity to streamline payment workflows for practices, in order to improve the patient experience and minimize work for practice staff."
The problem gets addressed by the interface between Klara and modmed Pay, which streamlines the digital collection of payments and credit card information. Users of Modernizing Medicine's Practice Management system and modmed Pay can use Klara's messaging platform to streamline patient billing in one place.
Due to the option to store numerous "cards on file," practices that use Klara's interface with modmed Pay should see fewer outstanding amounts. In addition, it can save time for administrative employees because they will no longer have to obtain credit card information.
Downtown Dermatology in Columbus, Ohio, is a practice that has profited from Klara's integration with modmed Pay.
"The interface has significantly reduced the time our staff spends playing phone tag to collect payment information from our patients," said Kathy Catania, office manager at Downtown Dermatology. "It will also be huge for settling outstanding balances — an absolute must for any practice."
