Comprehensive Digitization of the Healthcare Payment System

BY: VOH - 09 Feb-2023

Healthcare is complex. Patient payments and billing don’t have to be.  

The healthcare industry is expansive and constantly growing, and with that growth comes multiple processes for every activity that must adhere to differing compliance norms and procedures. These standards are necessary to ensure the safety of patients and their data, but can eventually lead to an overly complex healthcare system. Technological advancements have attempted to ease out the flow of these processes, and automation helped in making them less troublesome for healthcare providers and patients. Still, many payment processes remained outdated, even as the pandemic created demand for providers to update and digitize their systems.

Healthcare Payment Trends

A recent Patient Payment Technology Report by Salucro Healthcare Solutions in the United States showed trends in patient payment preferences, the factors that result in patient loyalty, and the kinds of technology helping to build trust among healthcare providers and their patients. Those patients have recognized this digital shift in the revenue cycle as more are opting for contactless and modern digital payment modes. 

When patients are relying more on digital modes of payment, it becomes crucial for hospitals to adopt a comprehensive digitized payment system wherein all aspects of the payment process – from selection of payment mode to backend reconciliation of transactions – is digitized. Although hospitals are trying to accommodate most methods of payment within their system, they still face difficulties, requiring multiple integrations and burdens from manual reconciliation with banks. 
Salucro Payment Solutions 

Salucro’s payment platform in India is exclusively designed for healthcare.  It is a unified platform that has built-in integration provisions for modern modes of payment available in the market and can be tailored to the individual needs of any healthcare unit. Its integration with modern payment methods helps hospitals stay up to date with the latest technologies at minimal cost and without any hassle of updating their systems from scratch. 

“Technology has been a boon for healthcare. But the use of technology to streamline payment processes for the healthcare sector was never thought through. All features of Salucro’s payment platform are designed to address these gaps and to ease the payment collection process for hospitals with end-to-end digitization. Our focus is to equip hospitals with the right tools to enable them to supply the most convenient and comfortable payment experience to their patients.,” said Piyush Bhan, Senior Vice President of International Business Development for Salucro in India.

*This blog is published by VOH team.*

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