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KLAS Research Awards CarePayment Top Patient Financing Company for 2023 - Read Press Release
Blog | April 14, 2021
CarePayment is proud to partner with some of the largest academic medical centers and health systems in the United States, and many, if not most, use the Epic HIS Platform. Epic is one of the leading platforms in the industry, and more than 250 million patients currently have an electronic record in Epic.
The Epic platform is implemented differently across health systems, so a high level of technical and operational understanding is needed to elegantly integrate patient financing for each Epic provider. CarePayment’s extensive Epic expertise makes it easy for providers to offer compassionate care and financing options to their patients, resulting in high patient and staff satisfaction.
Epic providers look for ways to optimize the capabilities of the platform. As financial responsibility shifts to the patient and they demand more self-service, automation and digital experiences, providers are focusing on increasing usage of the Epic Patient Portal – known as MyChart. Over the years, CarePayment has invested heavily in our Epic expertise and capabilities, including a membership in Epic’s App Orchard. The Epic App Orchard helps providers and other Epic users find and implement Epic reviewed and approved applications. Over the last several months, CarePayment has worked with Epic to develop our own MyChart integration application for the App Orchard.
Epic approved and available in the App Orchard marketplace, healthcare providers can now integrate CarePayment’s comprehensive, 0.00% APR patient financing solution directly into MyChart.
Once integrated, patients can select zero-interest financing directly from their personal billing page when they need help paying their out-of-pocket medical expenses.
Here’s how it works:
The widening affordability gap and rise in high-deductible health plans have pushed patients to assume more financial responsibility for their medical care. Now with many patients experiencing financial insecurity due to the COVID-19 crisis, patients are facing challenging financial times. When providers offer flexible payment options to their patients, they can help patients get the care they need when they need it. CarePayment can engage more patients and improve the MyChart user experience by allowing patients to choose a payment plan option directly from their account at any time.
The CarePayment program does not require an application and has no impact to credit score so anyone who needs help can quickly elect to use the program with no human interaction required. Once the patient is a CarePayment member, they have access to several consumer-friendly payment and communication options including text, email, an easy to navigate member portal, IVR and live agents for any questions or support when needed.
CarePayment has worked with Epic providers for more than a decade – exchanging data from the HIS to our patient financing platform and back every day. Because we understand the platform’s unique requirements, capabilities and workflows, implementation and management of the CarePayment program are made easier for patients and staff. CarePayment can offer a robust, scalable program and platform because we ensure we exceed all expectations on information security, patient experience and operational excellence, and we offer a unique solution with significant financial return.
CarePayment’s integration in MyChart is one more way we are leveraging our expertise to drive value for our Epic providers and their patients.
With the cost of uncompensated care on the rise, more than doubling in the past 10 years, providers need a solution that engages all patients to pay for care. When providers make financing options more compassionate and more convenient through digital first engagement coupled with high–touch human support when needed, patients are more likely to pay their out-of-pocket expenses.
Through our omni-channel approach to patient engagement and our comprehensive solution that includes the only pre-bad debt solution in the industry, CarePayment engages and enrolls more patients to pay their balances than any other program. We are so confident in our approach; we offer providers a contractual performance guarantee that ensures our incentives are aligned. If we don’t perform, we pay you.
CarePayment provides a robust, scalable platform, unique engagement and communication strategy and compassionate, 0.00% APR financing for patients. Our extensive Epic experience and integration with MyChart ensures hospitals, physicians, and health systems that use Epic and partner with CarePayment will see significant financial return while improving the patient experience.
If you’d like more information about CarePayment patient financing or would like to know more about CarePayment’s Epic expertise, contact us at 503.419.3544.
Epic, App Orchard and MyChart are trademarks of Epic Systems Corporation.
By CarePayment