Authors: Rebecca Truscott, Salucro Healthcare Solutions and Bruce Magill, Director of Business Development, Global Strategic Healthcare Partnerships at SAP
Market survey data has shown that patient acquisition and loyalty increasingly is impacted by the consumer financial experience. Salucro’s online offering leverages SAP’s ERP capabilities and advanced automation to enable seamless transaction processing and payment collection across the entire revenue cycle, simplifying the patient payment experience. The solution works with SAP Extension Suite and SAP Integration Suite to function as an online subscription service (SaaS), delivering operational performance levels (SLA) of 99.5% or more while complying with all international security and privacy standards and directives. It is highly configurable and easily integrated into existing systems, giving healthcare providers worldwide a solution that can be customized to meet their unique payment collection workflow requirements.
Multiple Payment Options to Meet Patient Preferences
While credit and debit card transactions remain dominant throughout healthcare payments, if the flexibility were offered nearly 33% of survey respondents1 showed interest in using emerging payment technologies to resolve their healthcare balances. To support emerging patient preferences, Salucro offers over 16 different payment options, including access to third-party financing and various e-wallet integrations.
Payment Locations to Meet the Needs of Patients and Providers
Healthcare providers benefit by elevating financial management and payment collection efficiencies and improving the patient payment experience, which has recently become mission critical. In the age of Covid-19, the need for a digital-first approach to patient billing has come to the forefront. Working in conjunction with SAP, Salucro provides an industry-leading solution for improving financial management for healthcare providers and providing today’s consumers with the convenience, safety, and functionality they expect.
When asked what capabilities they would like to see in an online bill payment experience, survey respondents favored several key options — from having a variety of payment types to choose to being able to save their card information on file. However, only 11% of patients2 replied that they were unwilling to make payments online.
“People mostly think about quality of care when evaluating a provider, but the financial journey can have just as much of an impact on patient satisfaction. Healthcare practitioners that don’t prioritize billing and payment processes are putting themselves in a position to lose patients and erode loyalty to their brand.” Clayton Bain, Founder & CEO, Salucro
Overcome the Challenges of Legacy Payment Systems with Fully
Secure Integration with SAP to Power Your Workflow-Specific Needs
Salucro’s SAP integration allows providers using SAP ERP to better meet patients wherever they are – online, at the point-of-service, or anywhere in between. Throughout the healthcare market there is massive room for improvement in traditional payment delivery systems. Hospitals, health systems, physician practices, and ancillary service providers are often plagued by limited capabilities. Inefficient routing of patient payments and manual posting to their accounts can lead to errors and significant delays in reconciliation. This means that providers often have to wait for extended periods of time to get paid, while patients are all too often hit with late, “surprise” bills they didn’t expect, all leading to decreased patient satisfaction and loyalty. Salucro’s payment solution overcomes these shortfalls by enabling:
Automated reconciliation with real-time posting of patient payments back into SAP
An online patient self-pay portal
Automated recurring payment plans
Agent-assisted payments across the revenue cycle, including pre-service, at point-of-sale, and for back-office call centers
Secure, PCI-compliant transmission of credit card information
A better patient payment experience with live chat support, electronic statements and receipts, and mobile-friendly payments from any device
Studies have shown major improvements in payment results for providers using the Salucro payment solution, including significant increases in collections, transaction volumes, speed-to-payment, patient self-service, and in the utilization of self-pay monies.
As a Level 1 PCI DSS service provider, Salucro is a leader in cloud-based, patient payment technology solutions that offer advanced payment options, insightful reporting, and cohesive payment experiences for providers and patients. The company’s payment platform can be integrated into any existing EHR/EMR system, helping to streamline collection workflows while bringing retail-like payment experiences to the revenue cycle.