Hospital revenue cycle management

Improved Point-Of-Service Collections.

As paitients pay a higher percentage of care costs, providers will suffer financially should they not collect payment or establish viable payment plans for required services.

Revenue Cycle Automation

What was just 15% of your revenue a few years ago is over 26% today and rising, creating more work, in part due to the uncertainty of patient’s ability to pay. This creates the need for hospitals and clinics to make patient payments as soon as possible.

Standardizes Revenue Cycle Work Flow

A consolidated revenue cycle technology stack has the benefit of providing simple access to various revenue streams across various, independent care locations within a single dashboard.

Our Point of Service system, NetTerminal, manages ALL patient payments; credit card, checks or cash.

 

 

Physicians Payment Services has joined with CardConnect in providing Point to Point Encryption (P2PE), which encrypts ALL cardholder data and reduces your PCI responsibilities and no network scans or tests.
This is only possible because our processing partner is P2PE Certified, which shifts the security responsibilities to them instead of you.

 EMV/Security - Medical Payment ProcessingThe only investment required is a Certified Encryption Pad which encrypts both keyed and hand entered transaction, in conjunction with a certified provider, of which CardConnect is one of the very few with that attestation.Better yet, the investment is under $350.00 per terminal, runs with our Point of Service software, NetTerminal and will include EMV later this year.

Physicans Payment Services has recently developed a partnership with CardConnect LLC, the leading credit card processing technology provider and has developed a complete package with EMV, Point to Point encryption and a Point of Service software system,

Here’s what you get with Physicians Payment Services and CardConnect: For an investment under $350.00, you can purchase a terminal from our processing service provider, CardConnect LLC, that provides Point to Point Encryption (P2PE) from a Certified processor. To be Certified is important and rare, which basically removes you from PCI scope. This means getting and maintaining PCI Certification goes from about 300 questions to about 30. Additionally, network scans are eliminated. This typically saves between $30,000 to $65,000 per year.These terminals will be made EMV compatible later this year, so you won’t have buy EMV chip readers & EMV/Security. These terminals work through our software, NetTerminal.

NetTerminal is a Point of Service (POS) designed especially for hospitals and clinics. 

 EMV/Security - Medical Payment Processing

It reports all transactional data to required users on a single report. Because the report is displayed on an Excel Pivot Table Report, it is highly configurable to your requirements. Some of the information for Cash, Check and Credit Cards transactions commonly displayed are:

  • Cashier
  • Terminal Name
  • Location or Clinic Name​, ​such as different clinics within a hospital, eliminating the need for different accounts that feed into​​ the same checking account for credit cards​.
  • Patient Acct # / Name
  • Date/Time
  • Amount
  • Voids
  • Refunds
  • Physician Discount​s​

Our goal: To provide Efficiency, Accountability, Security and Discipline throughout the patient payment process.

Net Terminal EMV/Security - Medical Payment Processing

Your choices are limited and stark at this point if you are using paper to record your medical financial data. Clean audits and proper financial controls are becoming too important to ignore. You know the time is coming where every dime of Hospital income will need to be accounted for with a trail of where it comes from. NetTerminal solves all these problems; it is made to address the patient payments from every step to depositing it, and then it puts it in a form you can instantly read and know what is going on with the cash, credit cards, and payment stations in the system. With one report you can know to the penny what each pay station has turned in and if it matches what is supposed to be turned in.

Hospital Expansion Into Clinics And NetTerminal With EMV/Security

Another circumstance where NetTerminal can save you time, trouble and money is in expansion of your Hospital into clinics.  You can try to make their systems work and integrate them into your own, or you can have a system that requires only a computer and a swipe device for each pay station. You can supervise every cashier with this report and know to the cent what should be being deposited. This is huge because it eliminates an entire level of supervision.  Instead of several, time wasting steps, you have all the data in one form on your computer.

The steps included in the daily drawer count down are as follows: Take a reading from the register, have the employee count down the drawer in front of a supervisor, who fills out a report of the monies taken , Cash and charge. The Supervisor then replenishes the change and places the money to be readied for deposit and the drawer in a safe place. Net Terminal will get it’s information directly from the register, calculate everything, including how much money should be in the drawer. You still count down, but no need for the employee to be there. No need for a report, it has already been made.  It also catches every drawer shortage or overage; indicates the charges by card type, tells you what station and what doctors are involved. You have full control over all patient portion payments no matter how they are paid. This saves your hospital money that can be used to better fund the mission. Protecting your interests are at the heart of this system. Interests both monetary and Human.