Healthcare facilities regularly face administrative headaches and frustrated patients in their patient payments process. Find out how prepaid cards offer an innovative solution.
Healthcare facilities across the United States face an ongoing battle to balance outstanding clinical services with business interests. The priority for healthcare leaders is, of course, caring for their patients health needs, but there’s more to the patient experience than that. Patient payments play an essential role in making sure patients are satisfied with their care and experience.
Prepaid card solutions offer a way to streamline the patient payments process, giving healthcare organizations a people-first and technology-backed alternative to outdated payment solutions.
What Are Prepaid Cards for Healthcare?
A prepaid payment solution has many use cases and applications in healthcare, but generally speaking, a prepaid card is a reloadable debit card that healthcare stakeholders can implement to streamline disbursement processes for patients, cutting costs and reducing administrative tasks for all parties involved.
So many healthcare providers utilize cutting-edge technology in their clinical patient care while retaining outdated, paper-heavy administrative processes. Prepaid card solutions are vital in offering a better patient experience while strengthening a facility’s financial health. Using prepaid technology to make patient payments modernizes the process while cutting out repetitive administrative tasks and reducing the risk of fraud and theft. It also has specific benefits for both providers and patients.
Uses for Prepaid Cards in Healthcare
So, where might healthcare facilities most benefit from prepaid card solutions for patient payments? Here are three examples:
1. Clinical Trial Payments
Prepaid cards let you deliver funds quickly to clinical trial patients and research subjects, and can be reloaded remotely whenever needed. For trials that aren’t local, you can offer digital cards for even more convenience. You can even brand physical cards for greater authority and brand awareness.
2. Prepaid Medical Lending
When your patients receive financing for anything not covered by their insurance, prepaid cards offer a fast and effective way for you to get paid. Lenders can either use digital prepaid card solutions to pay your office directly, or physical cards that go to the patient, who then pays your office.
3. Patient Reimbursements
Prepaid cards offer a better solution to all types of healthcare disbursements, from reconciliation payments to clinical trial stipends. At a lower cost than other payment methods and real-time fund delivery to patients, as well as comprehensive reporting facilities, prepaid cards take patient payments into a brighter future.
Healthcare Disbursements With Prepaid Technologies
When patients are given a better experience, healthcare facilities also benefit, and dash™Disbursements can do just that. HIPAA-compliant and flexible for cardholders, Prepaid Technologies is shaping the future of patient payments.