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Ring In the New Year with the Right Payment Processing Solution for Your Hospital

If there’s one thing we can all agree on, it’s that 2017 was a crazy year for health care. As the industry continues to transform, how is your payment processing technology evolving to compliment those changes? Looking toward the New Year, here are a few questions to ask when deciding upon the best payment processing solution for your health system, hospital or clinic.

Does it simplify and positively impact revenue cycle management (RCM)?

The right customized, streamlined payment processing solution will reduce steps in the RCM process and make it easier for patients to pay their co-pays or medical bills. Providers will spend less time collecting reimbursements and more time on their passion: helping people through practicing medicine.

Does it increase cash flow and days-cash-on-hand?

When it comes to financial stability, every detail counts. By using payment processing technology to receive reimbursements more quickly and to minimize expenses associated with the collections process, providers can easily increase cash flow and days-cash-on-hand.

Does it improve the patient experience?

Going to the hospital can be an intimidating process for many, and figuring out how to pay the bills that follow can be even more daunting. In fact, research shows providers’ scores on patient satisfaction surveys tend to drop after patients receive their bill(s). Healthcare-specific payment processing solutions that focus on the patient payment experience are key in this consumer-driven world.

Does it implement a security-first approach?

The growing number of data breaches is another trend that has disrupted the healthcare industry. Payment processing solutions that focus on security first rather than just checking off the boxes necessary for PCI compliance are better positioned to protect patients’ financial information.

Does it include an all-star support team?

Industry professionals recommend forming “symbiotic relationships” between healthcare organizations and payment processing partners. Look for a vendor that provides around-the-clock support, dedicated relationship managers and flexible contracts with regular program reviews.

Implementing a customized, streamlined payment processing solution will create a snowball effect that benefits patients, providers and frontline staff. A payment processing solution matching your organization’s unique needs and goals will lead to happier patients, greater financial stability, and more efficient and secure payments. If you’re interested in our customized, healthcare-specific payment processing solutions, please contact me at juselman@windriverfinancial.com or 1-800-704-7253 x4238.

Are your patients at risk?

Preventing card data breaches. 
Hospitals must meet numerous compliance requirements to ensure the security of patients’ financial and medical information, and for good reason – health care institutions are a major target for hackers and a frequent victim of data breaches. According to the Ponemon Institute’s Sixth Annual Benchmark Study on Privacy & Security of Healthcare Data, 89% of organizations experienced data breaches. The damage inflicted by breaches can be far-reaching and costly. Ponemon’s study found that the cost of data breaches to the United States’ healthcare industry could be as much as $7 billion per year.

As these figures indicate, PCI compliance really isn’t an option – you simply cannot afford to risk your organization’s security with the ever-present threat of hackers and other cyber threats.

Is your organization PCI compliant? If the answer is “no” or if you are unsure, both your patients and your institution may be at risk. But not to fear, we’re here to help. Read on to find out how.

WRF has you covered.
Wind River Financial (WRF) can assess your environment for point-to-point encryption (P2PE) capability to help minimize PCI scope and risk. We will help you deploy P2PE to achieve PCI compliance. Better yet, we will establish a structure for P2PE in your organization that is sustainable and ensures your continued success after our work is done. After all, PCI compliances is a marathon, not a sprint.

The experience to get the job done.
At WRF, we have successfully partnered with several health care organizations in strategically deploying P2PE solutions. From assessment to implementation, education and training – we will work with you every step of the way. When it comes to PCI compliance and defense against breaches, we’re your one stop shop.

Don’t take our word for it.
We never get tired of compliments from clients. We take pride in serving our customers and stand behind our products and services. Exceptional customer service, seamless integration and the ultimate hospital “radar” system – these are just a few of the kind words our satisfied customers have shared in describing our services.

But don’t take our word for it – check out some of our testimonials to hear from the clients themselves and learn what the WRF advantage can mean for your organization.

What are you waiting for?
Contact us today to discuss your organization’s needs and find out how WRF can help you choose a P2PE solution that will prevent credit card breaches and ensure the security of your patients’ information.