The auto finance payment processing sector is changing rapidly. Customers have a different way of viewing their loans these days, and they have different ways of paying. The payment and billing experiences are now at the heart of customer satisfaction when it comes to loan servicing. Therefore, focusing on this experience is the key to ensuring maximum payment from customers.

Marketing is key to the success of any credit union. These days, consumers have more choices than ever before when it comes to financial service providers. That’s why successful advertising is so important. By helping consumers to recognize the benefits of choosing your organization, you can encourage them to register for your services. However, marketing is something that many credit unions find challenging. While banks and large financial institutions find advertising their products second nature,...

When it comes to patient experience, there’s one thing that always comes out on top in surveys. Almost 90 percent of respondents say having a clear billing process is most important to them. It makes sense, then, that failing to make sufficient investment in healthcare billing solutions could cause problems for practices. In today’s competitive medical marketplace, finding ways to keep patients happy is key. Patients who are unhappy with their experience will simply look elsewhere for a new provider. 

For many practices, healthcare collection is proving to be a major challenge. Medical claim reimbursements are more difficult to obtain than ever before. The top challenge, according to 83% of small practice physicians, is that patients with high-deductible plans are slow to pay. The second most common challenge is practice employees are struggling to communicate payment accountability to patients. If your practice is suffering in this way, here are four ways to tackle the challenges you face.

The healthcare industry is worth trillions of dollars. Yet, healthcare payment solutions are often still antiquated. For this reason, the healthcare sector wastes more than $700 billion annually. The industry spends almost $200 billion of that total on excessive administration. Despite the recent technological advances, the healthcare payment sector is stuck in the past. However, just because things have always been done one way doesn’t mean you can’t change it. Here are just a few reasons why healthcare...

The success of any private practice is highly dependent on how it manages its healthcare receivables. Managing the revenue cycle is an ongoing challenge. Making claims on time and with the highest level of accuracy is key to receiving prompt reimbursements from insurers. However, private practice physicians often find they wait for many weeks or even months to receive payments. Even worse, when reimbursement finally arrives, it is often less than the amount charged for services.

Healthcare costs are increasing more rapidly than the average family income. In 1960, healthcare costs were only consuming around 4 percent of an individual’s average income. In 2017, that figure had risen to 7 percent. It comes as no surprise, then, that payers, providers, and consumers alike want better HPS solutions. 

Triple check your risk management strategies to avoid a breach

There’s no shortage of instances of security breaches where customer data is accessed or exposed. It seems like you can’t go one week without learning of a new breach somewhere across the country.