SUNNYVALE, Calif., July 09, 2018 (GLOBE NEWSWIRE) — DrChrono Inc., the company enabling the medical practice of the future, today announced a new partnership with Collectly, a fellow Y Combinator company that streamlines the billing and collection process for healthcare companies.
Collectly digitizes paper bills and works with practices to send patient billing statements and collection notices electronically via text or email. Within the message is a link for patients to go straight to a patient portal to see their statement and instantly make a payment, or get more details and questions answered about their bill. The portal provides answers to commonly asked questions about deductibles, co-insurance, and coverage, as well as Live Chat, where billing experts can answer specific questions about a patient’s insurance, how the bill correlates with a patient’s insurance plan, as well as options for building an approved payment schedule.
Collectly built on the DrChrono API and is now available in the DrChrono App Directory. Practices using DrChrono’s platform can now connect Collectly, with Collectly offering patient billing and collections through an automated, electronic process. For practices, this is a major time saver, as many hours are spent each week by staff chasing down patient payments by phone. Practices can increase revenue by making the billing and collection process smooth for patients. Collectly’s data shows that 69% of patients view bills the same day it is sent out through Collectly’s system, and on average, practices see a 47% improvement in patient collection.
“Chasing down patients for payment of paper bills by phone is an inefficient, archaic process and a major headache and time drain for our staff,” said Max Tselevich of TheDoc.LA practice. “Patients want a simple way to resolve their bills online and get their questions answered. This integration is a win for both my staff as well as our patients, as it will help us operate much more efficiently, settle outstanding payments, and improve communication with our patients. With the help of DrChrono, we have modernized using iPads and iPhones to keep updated patient records, coordinate appointments, send in prescriptions and more; now with the Collectly integration, our billing and collections process will become digitized and much more efficient as well.”
“DrChrono has helped modernize physician practices using innovative technology to streamline multiple aspects of a patient’s appointment and follow up care,” said Levon Brutyan of Collectly. “Our digital billing and collections software is the perfect tool for DrChrono to offer to practices as it will free up valuable time for their staff, relieving them from the time-consuming task of chasing down payments, while increasing their revenue as patient collections dramatically improve.”
“We are always looking for App Directory partners that will offer unique technology to improve a practice’s efficiency and give them more time for patient engagement,” said Michael Nusimow, CEO and Co-Founder of DrChrono. “Collectly is the perfect tool for our practices when it comes to patient payments and collections and will be a great addition to our customers’ billing processes.”
Collectly helps private practices and medical groups increase collections on patient bills by 35%, reduce patient A/R days by 50%, and drop the patient billing cost by more than 60%. Self-serve patient payments increase by 57%. We do this by billing patients not only via paper statements, but mostly via text, email, and giving them the direct link to a payment page where they can view their interactive bill, get instant billing support, and set up an instant pre-approved payment plan. Patient payments satisfaction increase by 2x because patients can finally understand their bill and settle their balance instantly without a need to call and wait for help.
For more information about Collectly, visit www.collectly.co
DrChrono focuses on bringing the medical practice of the future to reality; the company built the first iPad EHR. DrChrono creates the best electronic health record, practice management, medical billing and revenue cycle management experience for physicians and patients; the medical platform was built for iPad, iPhone, Apple Watch and the web. The EHR includes customizable medical forms, e-prescribing, real-time patient eligibility checks, patient portal and more. The healthcare App Directory offers a multitude of apps that a practice can select from to bundle in and a medical API for healthcare app developers. For more information about DrChrono, visit www.drchrono.com
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