Whether it’s living in a country where healthcare is free or it requires citizens to pay, healthcare isn’t exactly cheap. Because of this, healthcare billing is prone to misuse to overly charge patients which sometimes isn’t intentional. With bundled pay management software, healthcare providers can consolidate and analyze their patients’ billing payments and see if there are ways to make it cheaper while maintaining the high quality of healthcare possible. Here are some of the best bundled pay management software available right now.
4+ Bundled Pay Management Software
What Is Bundled Pay Management Software?
Bundled pay management software is a medical billing software where healthcare provides minimize the cost of healthcare services while being able to maintain the high quality of the services availed. Through this online payment management system, the software combines all of the single care episodes payment where reimbursements can be seen in analyzing the cost and redundancies in the medical billing episodes.
Bundled pay management software enables health care providers to help minimize the cost of healthcare for their patients, Through the recurring bill platform, the software combines all of the individual payments to analyze which healthcare services were availed to be treated or not as well as other payment redundancies and unused miscellaneous fees which the reimbursement can take place after analyzing. By finding these possible reimbursements through direct debit management software, the burden to pay high-costing medical fees is lowered and gives them the relief that they can pay their dues. The accounts payable management software also helps healthcare providers to help outpatients in need who are attempting to find ways to lower their medical costs.
Bundled pay management software should be able to analyze individual medical billing episodes to look for possible reimbursements based on whether these services and treatments were used for the patient as well as for redundant fees. The payment management system should be able to provide risk financial management features where healthcare providers can analyze their medical billing-related risks. The recurring bill management software should also provide claims management software where customers can file claims over their medical payments. Payment management system software should be able to integrate with other health care software for syncing of data over the patient and their pending billing.
- Consolidate individual medical billing
- Analyze possible reimbursements for patients
- Risk financial management software tools
- Claims management software tools
- Integration with other healthcare software
Top 5 Bundled Pay Management Software
Vizient consults patients on solutions that can provide a more cost-effective way to pay for healthcare. Vizient has 8,294 employees and earns annual revenue of $2 billion.
HealthQx provides value-based payment healthcare analytics software for patient payers to help them group their payments for an effective reimbursement system. HealthQx has 26 employees and earns a revenue of $5 million.
OptumRx provides healthcare software where healthcare providers can manage their patient prescriptions easily. OptumRx has 229 employees and earns annual revenue of $56.3 million.
BankingQ provides an automated bundled pay management software where healthcare provides reconcile all of their healthcare payments. BankingQ has around 25 employees and earns a revenue of around $5 million.
EProviderSync provides an automated workflow management software where it simplifies all healthcare-related data. EProviderSync is owned and developed by Simplify Healthcare, which the parent company has 400 employees and earns annual revenue of $40.5 million.
Does bundled pay management software integrate with hospital management software and medical practice management software?
Yes. Bundled pay management software needs to integrate with hospitals and clinics that use either hospital management software or medical practice management software as both software contain medical billing software tools that are needed to analyze the cost for patients.
How much does bundled pay management software cost?
Pricing for bundled pay management software is usually customized, with each software providing different subscription tiers that offer more features as the price increases. Pricing for bundled pay management software varies depending on the features available and the intended target healthcare institution. Small healthcare providers may benefit more from low-cost bundled pay management software while large healthcare providers may benefit more from high-cost software.
With bundled pay management software, healthcare providers can find ways to provide a more cost-effective way for patient payers to pay their healthcare dues while still providing the highest quality of healthcare possible.
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