The healthcare industry is experiencing a critical period of digital transformation. Organizations are working diligently to create coordinated, effective, efficient care, improve population health, and expand care coverage. However, given the complexity of healthcare, payers and providers find themselves behind retail, financial, and other consumer goods industries in terms of payment innovations. Some providers even fear that altering existing care procedures may adversely impact healthcare consumers.
Yet, it is clear that healthcare payments are shifting from a back-office function to a strategic lever. Digital payment solutions are increasing in popularity. By 2026, Bain & Company projects that consumer payment transactions through embedded platforms will more than double, reaching $3.5 trillion and earning platforms and enablers $21 billion in revenue. With 70% of consumers open to utilizing a single platform to manage their healthcare needs, adopting a digital-first payment strategy is a huge opportunity for healthcare companies
In this blog, we’ll share real-life case studies and testimonials from healthcare providers who have benefited from PayNova. These stories offer a glimpse into how Helixbeat’s PayNova is helping healthcare providers streamline their healthcare payments processes, reduce operational inefficiencies, and improve patient satisfaction
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The Need for Change in Healthcare Payments
Before we discuss over the success stories, it’s important to understand the pain points healthcare providers face when it comes to payment systems. Healthcare payments are notoriously complex. For patients, navigating the world of insurance coverage, co-pays, deductibles, and out-of-pocket costs can be a headache. For providers, managing this complexity can take up valuable time and resources. In fact, studies have shown that healthcare providers spend a significant portion of their budget on administrative tasks related to billing and healthcare payments.
For example, medical practices often struggle with delayed payments, which can create cash flow problems and make it harder to maintain smooth operations. On top of that, the time spent on follow-ups, claims rejections, and incorrect billing can lead to frustrated staff and patients alike.
That’s where PayNova comes in. With a focus on simplifying the healthcare payments process, PayNova is cutting-edge medical payment gateway addressing many of these challenges head-on. Let’s take a closer look at how PayNova has made a real difference for healthcare providers.
1. Case Study: Sunshine Health Hospital
Background: Sunshine Health Hospital, a medium-sized medical centre, faced challenges with its billing processes. Their manual systems often led to delayed payments, erroneous billing, and patient confusion in billings. The hospital’s finance team spent countless hours dealing with insurance claims, and the administrative staff struggled to provide clarity on out-of-pocket expenses. With a mission to better patient experience and improve cash flow, the hospital sought the perfect solution.
Solution: After a thorough assessment of the hospital’s needs, Helixbeat implemented a PayNova payment gateway . PayNova integrated its platform with the hospital’s existing systems, automating the invoicing process, streamlining insurance claim submissions, and introducing digital payment options for patients. Through PayNova’s centralized dashboard, the finance team could easily track payments, verify insurance claims in real time, and instantly communicate with patients about their financial obligations.
Results: Within six months, Sunshine Health Hospital saw a remarkable improvement in healthcare payments collection. The average time for insurance claim processing dropped by 35%, significantly reducing the hospital’s cash flow cycle. Patients were able to pay their bills online, which improved the hospital’s payment collection rate by 25%. The finance team reported a 40% reduction in time spent on administrative billing tasks, allowing them to focus on other critical areas of revenue management.
Dr. Emily Martinez, Chief Financial Officer of Sunshine Health Hospital, shared her thoughts: “Before PayNova, we were drowning in paperwork and delays. With their solution, our operations have become more efficient, and the entire process is now much more transparent for both our team and our patients.”
2. Case Study: CityCare Medical Group
Background: CityCare Medical Group, a multi-location provider network with several primary care offices, was facing issues with billing discrepancies and delayed reimbursements. The diverse patient population, along with a mix of insurance plans, caused confusion both for the billing department and patients. With the need for a better system to ensure accurate billing and timely reimbursements, CityCare sought a payment solution that would reduce errors and improve patient satisfaction.
Solution: Helixbeat tailored PayNova payment platform that automated insurance verification, claim submission, and tracking, minimizing the risk of billing errors. The system was also integrated with CityCare’s electronic health record (EHR) system to ensure that patient care information seamlessly flowed through the payment process. Patients were provided with real-time estimates of their out-of-pocket costs, reducing surprise bills and improving satisfaction.
Results: After six months of using PayNova, CityCare Medical Group saw a dramatic reduction in billing errors. The average claim rejection rate dropped by 20%, leading to quicker reimbursements from insurance companies. Additionally, patient satisfaction surveys showed a 30% increase in positive feedback regarding payment transparency and the ease of payment. Patients appreciated the online payment portal, which allowed them to pay their bills from home, improving the overall patient experience.
Maria Thompson, Billing Manager at CityCare, noted, “We’ve never experienced such efficiency in our billing process. PayNova’s system has made the reimbursement process smoother, and our patients love the ability to see their costs upfront.”
3. Case Study: Oakwood Surgical Center
Background: Oakwood Surgical Center specializes in outpatient surgeries, including orthopedics, ophthalmology, and gastroenterology. With many patients requiring complex procedures and multiple insurance providers involved, Oakwood struggled with complicated billing procedures and inconsistent payment collection. The center needed a solution that could accommodate various payment models, including co-pays, deductibles, and surgery-based billing.
Solution: HelixBeat implemented PayNova that accommodated multiple billing models and payment options. By integrating PayNova’s system into Oakwood’s scheduling software, the center was able to provide patients with accurate pre-surgery cost estimates, including insurance coverage and out-of-pocket expenses. PayNova’s system also enabled easy processing of down payments and allowed patients to set up flexible payment plans for more expensive procedures.
Results: The integration of PayNova’s healthcare payments system resulted in a 40% reduction in outstanding patient balances, as patients were better able to plan and pay for their surgeries. The surgical center also reported a 50% decrease in administrative errors related to billing, freeing up resources to focus on patient care. The center’s revenue cycle time was shortened by 30%, and Oakwood achieved a 95% payment collection rate on surgical services.
Dr. Mark Williams, Chief Surgeon at Oakwood Surgical Center, stated, “We used to face a lot of challenges with payment collection before PayNova. Now, our patients are more informed, and we’re getting paid on time. The flexibility of the system has truly transformed the way we operate.”
4. Case Study: ClearView Rehabilitation Center
Background: ClearView Rehabilitation Center provides long-term care and rehabilitation services to elderly patients, including those recovering from surgeries, strokes, or accidents. A large portion of ClearView’s patient base is covered by government insurance programs, such as Medicare and Medicaid, which are known for their complex billing procedures and stringent regulations. ClearView faced challenges in reconciling healthcare payments and ensuring accurate billing for these patients.
Solution: PayNova gateway helped ClearView navigate the complexities of government insurance billing. PayNova automated the submission of Medicare and Medicaid claims, ensuring that all necessary documentation was provided, and errors were minimized. The platform also offered a patient-friendly billing experience, where patients and families could track the status of claims and healthcare payments in real-time. The seamless integration with ClearView’s accounting systems ensured accurate and timely reimbursement.
Results: ClearView Rehabilitation Center saw a 25% improvement in its claim acceptance rate for government insurance programs. The time required to process claims was reduced by 40%, and the center experienced a significant drop in late payments. More importantly, ClearView reported increased patient trust, as families appreciated the transparency in billing and the ability to monitor payment statuses.
“I can’t imagine going back to the old way of doing things,” said John Adams, Executive Director at ClearView. “PayNova’s payment gateway has simplified the billing process and ensured our patients and their families are well-informed, which ultimately leads to a better experience for everyone.”
5. Case Study: Heritage Family Practice
Background: Heritage Family Practice, a family-owned healthcare practice, was struggling with inefficient billing and a high number of denied claims. The practice’s administrative staff was overwhelmed with manual billing tasks, and patients frequently had questions about their bills, leading to frustration on both ends. Heritage Family Practice sought a comprehensive solution to improve payment accuracy and reduce administrative workload.
Solution: Helixbeat implemented PayNova that not only automated claim submissions but also offered a patient portal where individuals could view their payment history, track claims, and submit questions directly to the billing team. The platform’s intelligent claim management system reduced errors and provided real-time insights into claim status, allowing the practice to address issues quickly.
Results: Within just a few months, Heritage Family Practice noticed a 30% reduction in denied claims and a 20% reduction in time spent on billing-related tasks. The patient portal was well-received, leading to a 15% decrease in phone inquiries about billing issues. Additionally, patients reported higher satisfaction due to the transparency and ease of accessing their financial information.
Dr. Sarah Jenkins, Owner of Heritage Family Practice, commented, “PayNova has been a game-changer for our practice. The streamlined billing process has freed up our staff to focus more on patient care, and the patient portal has improved communication, which our patients really appreciate.”
Conclusion: A New Era in Healthcare Payments
The success stories of Sunshine Health Hospital, CityCare Medical Group, Oakwood Surgical Center, ClearView Rehabilitation Center, and Heritage Family Practice all demonstrate the powerful impact that PayNova can have on healthcare payments. If you are a healthcare provider looking to improve your payment processes, PayNova healthcare payment can help you achieve similar success and transform your practice for the better. Reach out today to learn more about how PayNova can change your operation of healthcare payments.
Frequently asked question
- How does PayNova simplify the process of healthcare payments?
PayNova automates billing, insurance claims, and patient payment processes, making transactions smoother, faster, and more accurate, reducing the administrative burden on healthcare providers.
- Can PayNova integrate with my existing healthcare systems?
Yes, PayNova seamlessly integrates with most Electronic Health Records (EHR), Practice Management Systems (PMS), and billing systems to provide a unified payment platform.
- How does PayNova help reduce delayed payments?
PayNova automates insurance claim submissions, tracks healthcare payments in real-time, and offers multiple payment options, reducing the time it takes for providers to collect payments and improving cash flow.
- What are the benefits of using PayNova for insurance claims?
PayNova streamlines the insurance claim process, automating claim submissions and tracking, ensuring faster reimbursement and fewer errors, which reduces administrative workload.
- How does PayNova improve patient satisfaction?
PayNova provides patients with real-time estimates of their out-of-pocket costs, offers easy-to-use online payment options, and provides transparency throughout the billing process, leading to improved satisfaction.
- What payment methods does PayNova support?
PayNova supports a wide range of payment methods, including credit/debit cards, bank transfers, digital wallets, and ACH payments, allowing patients to choose the option that works best for them.
- How does PayNova handle complex billing models?
PayNova’s flexible system accommodates various billing models, such as co-pays, deductibles, and surgery-based billing, making it easier for providers to manage patient payments accurately.
- How can PayNova help reduce administrative costs?
By automating many manual billing tasks, PayNova reduces the time spent on administrative duties, allowing healthcare providers to allocate resources to other important areas of their operations.
- Can PayNova support government insurance programs like Medicare and Medicaid?
Yes, PayNova’s platform is designed to handle the complexities of government insurance billing, ensuring compliance and timely reimbursement for programs like Medicare and Medicaid.
- Does PayNova improve cash flow for healthcare providers?
Yes, by streamlining the payment collection process, reducing claim rejections, and automating invoicing, PayNova significantly improves cash flow for healthcare providers.
- Is PayNova customizable for different types of healthcare practices?
Yes, PayNova offers customizable solutions that cater to the unique needs of various healthcare providers, including hospitals, medical groups, surgical centers, rehabilitation centers, and family practices.
- How does PayNova enhance transparency in billing?
PayNova provides patients with clear, up-to-date information on their financial obligations, including out-of-pocket costs, insurance coverage, and payment statuses, ensuring transparency and reducing confusion.
- What kind of support does PayNova offer healthcare providers?
PayNova provides dedicated support to healthcare providers, assisting with system integration, troubleshooting, and offering ongoing support to ensure smooth operation.
- How can PayNova benefit a small family practice?
Small practices can benefit from PayNova by automating billing processes, reducing denied claims, improving communication with patients, and increasing overall payment collection rates, all of which save time and improve operational efficiency.
