Consumer Payment Card News

VISA Adds Support for Easy Pay

VISA U.S.A. released a video and a brochure to assist dental professionals and healthcare providers with promoting automated ‘Easy Pay’ VISA payment options to patients. The new tools will be added to VISA’s current ‘Practice Management Kit’. VISA is now accepted by 239,000 healthcare facilities in the U.S. representing 95% of hospitals, 84% of dental offices and 51% of physicians offices. Last year VISA logged $8 billion in healthcare transactions.

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Visa U.S.A has two new complimentary practice management tools available for healthcare providers, in addition to the many helpful tools currently offered through their Practice Management Kit.

The new Visa video, “Automating Patient Payments: Time of Service Payment Solutions” helps office managers and patient account managers talk with their patients about payment options that are available to them when paying their healthcare bills. Using a step-by-step process, the video walks patient account managers through the various levels of information that patients need to know about their financial arrangements.

The accounts receivable training video also highlights the Visa Patient Easy Pay process, which allows a patient to automatically arrange for payment of their healthcare bills, even when the exact amount of the patient’s balance is not known at the time of their visit.

The video emphasizes the fact that the chances for successfully collecting payment at the time of registration is 90 percent. At the time of discharge the percentage lowers to 75 percent, and waiting for payment sixty days past service results in a disastrous 12 percent. Patient Easy Pay helps practices increase their rate of collection and reduces receivables, in addition to improving patient satisfaction.

Another resource offered by Visa to healthcare providers is a patient education brochure outlining the advantages of using the Patient Easy Pay system of payment for patients’ healthcare charges. These complimentary brochures, “The Easy, Worry-Free Way to Pay,” can be ordered by calling 800-461-8472, ext. 251. When physicians order 25 or more brochures they will also receive a Visa brochure holder.

The complimentary video and brochures can also be ordered through Visa’s Fast Facts as well as at healthcare conventions. Visa payment cards are accepted at more than 239,000 healthcare facilities in the U.S. including 95 percent of hospitals, 84 percent of dental offices and 51 percent of physicians offices. The Visa payment cards were used for more than $8 billion in healthcare transactions in 1996.

Visa is the preferred payment brand and the largest consumer payment system worldwide. It plays a pivotal role in advancing new payment products and technologies to benefit its more than 20,000 member financial institutions, their cardholders, and the global economy. Visa’s 525 million cards are accepted at over 13 million locations worldwide, including more than 319,000 ATMs in the Visa Global ATM network. For more information on Visa, visit Visa Expo at http://www.visa.com.

For additional information on the new video or brochure, call 800-461-8472, ext. 552.

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