HealthPay24 Spotlights Patient Payment Solution at Becker's Health IT and Revenue Cycle Conference

Rhea-AI Summary

EngageSmart's HealthPay24 will showcase its cloud-based patient payment platform at the Becker's Health IT and Revenue Cycle Conference from Oct. 4-7 in Chicago. Over 60 providers have enhanced their payment solutions, notably Deaconess Health System, which collected over $8M in pre-service payments. The updated features include payment plans, flexible payment options, and enhanced security, aimed at maximizing self-pay revenue and automating processes for healthcare providers, thereby addressing staffing shortages in the industry.

Positive

• Over 60 providers have benefitted from HealthPay24's enhancements.
• Deaconess Health System collected over $8M in pre-service payments since migration to the platform.
• Improved patient payment solution simplifies the collection process.
• New features promote compliance with regulations like the No Surprises Act.

Negative

• None.

MECHANICSBURG, Pa.--(BUSINESS WIRE)-- HealthPay24, an EngageSmart (NYSE: ESMT) solution and complete patient payment platform, will showcase new features and benefits of its cloud-based solution at the Becker's Health IT and Revenue Cycle Conference Oct. 4-7 in Chicago.

More than 60 HealthPay24 providers and their patients have benefited from enhancements to their patient payment solution to date. In February 2022, Deaconess Health System migrated to HealthPay24’s cloud-based platform and has since collected over $8M in pre-service payments, while ensuring a seamless experience for patients.

Hospitals are facing staffing shortages, making collecting and reconciling payments—be they patient-related or not—a major pain point,” said HealthPay24 Head of Product Barbi Elmore. “Our updated patient payment solution makes the collection process simpler and more streamlined from pre-service through post-service, building trust between our providers and their patients.

Patient payment solution features include:

• Payment plans, discounts, non-recourse loans, financial counseling, and other options to make bill payment more affordable and manageable for patients
• Estimation tool integrations to allow for pre-service payment collections
• Flexible payment options like text-to-collect, autopay, IVR, stored card on file, Google Pay, Apple Pay, Venmo, and PayPal
• Enhanced security benefits

These enhancements empower healthcare providers to maximize self-pay revenue throughout the patient journey. In addition, the patient payment solution automates manual processes with features like electronic push notifications, refunding, reporting, general ledger posting, and payment reconciliation, which enable staff to focus on patient care.

By allowing providers to collect payments during pre-service communications and to post these payments directly back to the accounts receivable, HealthPay24 helps organizations comply with regulations like the New Transparency Rule and the No Surprises Act, while also collecting revenue earlier in the patient journey.

To meet the HealthPay24 team and learn more about the full patient payment solution, stop by booth 1228 at Becker’s Health IT and Revenue Cycle conference. For more information on HealthPay24, visit: https://www.healthpay24.com/why-healthpay24

About HealthPay24:
HealthPay24, an EngageSmart solution, offers a full patient payment platform custom-designed to help providers consolidate vendors, reconcile collections, and create trust through consumer engagement. HealthPay24’s patient payment solution manages any consumer transaction from the estimate, payment acceptance, reporting, reconciliation, and posting to a patient’s billing or general ledger. To learn more about HealthPay24, visit www.healthpay24.com.

About EngageSmart:
EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. Headquartered in Braintree, Massachusetts, EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24, and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of June 30, 2022, EngageSmart serves more than 89,000 customers in the SMB Solutions segment and more than 3,200 customers in the Enterprise Solutions segment across five core verticals: Health & Wellness, Government, Utilities, Financial Services, and Giving. For more information, visit https://engagesmart.com and follow us on LinkedIn.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221004005278/en/

Media Contact:

Nicole Bestard

Quarter Horse PR

engagesmart@qh-pr.com

Investor Relations:

Josh Schmidt

EngageSmart, Inc.

IR@engagesmart.com

Source: EngageSmart

FAQ

What features does HealthPay24 offer?

HealthPay24 offers payment plans, flexible options like Google Pay, Apple Pay, and PayPal, and enhanced security for patient payments.

What event is EngageSmart participating in?

EngageSmart is participating in the Becker's Health IT and Revenue Cycle Conference from Oct. 4-7 in Chicago.

How much did Deaconess Health System collect using HealthPay24?

Deaconess Health System collected over $8M in pre-service payments using HealthPay24.

What is the stock symbol for EngageSmart?

EngageSmart is listed under the stock symbol 'ESMT'.

Which payment options does HealthPay24 integrate?

HealthPay24 integrates payment options like Google Pay, Apple Pay, Venmo, and PayPal.