Navicure introduced a new patient payment platform that allows health care organizations to facilitate bill collections.
Through Navicure Payments, health care organizations can estimate how much a patient owes after insurance adjudication for each visit and collect this entire amount immediately.
A 2013 National Center for Health Statistics study found that 32.5% of people under 65 were enrolled in health insurance plans with high deductibles, which means their out-of-pocket costs are higher.
Navicure's new software is meant to reduce bad debt write-offs that hospitals and private physician practices incur because of a patient's late payments. On average, 20% to 30% of patient accounts are written off as bad debt today, according to the NCHS data cited by Navicure.
The product can collect previous balances or copays via debit, credit or ACH payments, the Atlanta-based company said in an Aug. 18 news release.
"To continue to thrive, healthcare organizations must collect patient payments at or near the time of service and no longer rely solely on patient statements, which can come months after care and long after the patient remembers what procedures were performed," said Jim Denny, co-founder and chief executive of Navicure, in the release.