Healthcare Accounts Payable Solutions
A better approach to patient refunds.
Healthcare providers are leveraging automated, electronic payments to change the way they manage supplier payments. This new approach can transform your AP department by reducing costs, delivering operating efficiencies and creating a new profit stream. Additionally, these solutions can complement existing ERP and payment programs, adding additional revenue opportunities and ensuring your organization isn’t leaving money on the table.
Patient refunds create a unique challenge for healthcare providers in an environment of increasing out of pocket payments for patients. Most organizations are seeing a significant rise in refunds post adjudication with their insurance companies. Patient Refund Optimization, as part of our disbursements platform, enables health systems, hospitals and physician practices to lower costs, enhance workflows and improve patient experience and satisfaction.
PreferPay®, by CommerceHealthcare®, is a faster, easier way for healthcare providers to refund patients. It eliminates the need to collect, retain and/or manage payment information, while giving patients faster access to refunds on our disbursements platform.
How PreferPay® works
PreferPay® makes patient refunds easy. The process is simple, saving healthcare providers time and money and delivering an optimal patient experience.
Patient Payment Options
Patients identify their preferred method of payment.
- Direct to Debit Card -— payments are credited directly to a bank account through a patient’s Visa® or Mastercard® debit card. Funds available in as little as 30 minutes.
- Direct Deposit — funds in patient’s bank account within 2-3 business days.
- Check — mailed to a patient’s home address.
For more information about CommerceHealth, please reach out to Paul Rowson at Paul.Rowson@CommerceBank.com.
Our partners have demonstrated that they can deliver ready-to-deploy products or services that meet hospital needs and the highest standards of quality and customer service. They are chosen through a rigorous screening process that results in a mutually beneficial contractual relationship. Partners agree to offer their products to SCHA member hospitals at the best possible price through an agreed-upon contract. For more information, visit Solvent Networks, follow us on Linked In or watch HERE.