Text-to-Pay Is The Patient Solution Your Facility Needs

With the advent of e-mails, app-based messaging apps, and social networks, it is easy to forget that SMS is still the most popular and dominant form of communication. In 2020 alone, there were 2.1 trillion SMS messages exchanged in the United States, according to a recent survey by the Cellular Telecommunications Industry Association (CTIA).

Consumers love SMS because of its overall reliability and cost-effectiveness. It has very high open rates and overall usage rates making it a potent tool as an efficient patient billing solution.

The average response time for a text message is 60X faster than email. While emails get lost in junk folders and phone calls go straight to VM, 95% of texts are read within 3 minutes of being sent.

Text billing can lead to quicker payment and improved collection efficiencies when done right. It is important that your facility understands the rules and regulations around using text as a collection tool.

If you have questions or concerns about text billing, the best strategy is to partner with a licensed Patient Financial Services company like Mnet Health that offers a complete text billing solution and patient call center all-in-one.

Text messages create a sense of urgency. Creating urgency helps get you paid faster. After 6 months, a debt is only 50% recoverable. After 12 months, this drops to 10%.

This is why Mnet offers a complete & compliant text billing solution. With Text-to-Pay, you are guaranteed to increase your revenues by getting paid in the fastest way.

For example at Baylor Scott & White (Las Colinas) — within 60 days of offering Mnet’s Text-to-Pay, 63% of patients enrolled in text billing paid in full. By utilizing Mnet’s 1st Party Billing Services, the surgical hospital reduced bad debt expense by $1.1M and improved average monthly self-pay collections by 121%.

In healthcare, just sending patients text bills without helpful agents causes more complaints than payments!

Therefore, Mnet complements Text Billing with helpful agents or Patient Financial Advocates (PFAs) — from getting consent (ensuring that the consent process is complete) up to answering questions about the bill.

Having patient financial advocates who can speak the patients’ language can make a huge difference in the patient payment experience. Partnering with Mnet means you get uniquely trained patient financial advocates (PFAs) covering 200+ languages to help patients if needed.

These are agents who can answer patients in their native tongue about insurance coverage questions, offer financing solutions, and have a firm understanding of TCPA, FDCPA, and other relevant collection laws.

Mnet’s Text-to-Pay solution makes it easy to pay a bill on the go. It also makes it very easy to view payment plans and financing options. With Text-to-Pay, it is also easier for patients to call their provider by tapping the phone number listed in the SMS message.

In one survey, almost 80% of consumers said that they wished that businesses would text them more. Text-to-Pay is a more immediate billing strategy that can improve your bottom line quickly by reaching patients where they already spend most of their time.

With Mnet Health’s Text-to-Pay solution, you are certain that you are going to have the best-in-class billing solution around.

By partnering with Mnet, your facility stands out by having:

• Complete & compliant text billing solution (Text-to-Pay)
• Service Center available on nights & weekends
• Multilingual Patient Financial Advocates (200+ languages are covered)
• Increased payment options by implementing PaySuite
• Payment Automation with patient accounting software and merchant services integration

We believe every patient deserves a helpful, transparent, easy-to-navigate financial experience in healthcare. Mnet is the premier revenue cycle management & technology provider to the surgical industry. Mnet provides customized patient-pay solutions to surgical hospitals and ambulatory surgery centers. Mnet Health partners with over 900 surgical facilities nationwide and is the preferred vendor to the leading ASC management companies in the US both directly with and in support of centralized billing offices.

Mnet’s tailor-made brand, PaySUITE, is a white-labeled payment technology platform that helps surgical facilities, and their providers grow their business by helping patients pay. Mnet’s patient-pay solutions significantly increase self-pay collections while creating a better financial experience for patients. For more information, visit mnethealth.com.