A widespread adoption of new payment methods, which remain intact after the pandemic, has paved the way for practices to continue to adopt innovative technology that enhances the provider and patient relationship, says Dominick Colabella, CEO of Rectangle Health in “A Look Forward: What Executives Wish for America and the World in 2021”. He has elaborated how pandemic has transformed the healthcare payment space and readiness of providers for the change.
- Colabella says that 2020 has seen healthcare quickly execute massive changes in the areas of practice safety and protocols. “Practices may have adopted new technology out of necessity, but it is my wish that they fully embrace the changes and benefits that accompany this technology in 2021. As a result of adopting this change, healthcare practices will continue to recognize the benefits from new, contactless payment processes by seeing significant increases in administrative efficiency, bottom-line numbers and patient satisfaction,” he says.
- Healthcare practices that offer flexible and convenient types of payment — including contactless and recurring methods — as early in the patient journey as possible can achieve these positive results. The patient-centric healthcare shift is well underway, and by providing patients with flexible options to pay, whether at the point of care or after business hours have ended, providers meet their preferences while increasing the rate at which they get paid for treatment.
- Rectangle Health educates practices on the capabilities of its technology that both address patient payment and billing pain points, and also provide streamlined, contactless payment features that speed up the time in which the office receives payment.
- “The new year is a critical time for practices to position themselves to rebound from the challenges of 2020. I truly believe that my wish for a safe and prosperous 2021 for the healthcare industry — and all Americans — can be a reality. Rectangle Health, through its practice management interface and digital payment tools, will continue to support healthcare organizations to recover and thrive,” he adds.