Over the last few years, patients have seen a steady increase in their portion of the financial responsibility for medical bills. With the trend of rising deductibles, private practices find that a far larger portion of their yearly revenue is collected directly from patients, rather than insurance companies.
As these payment models shift, private practices are at more risk than other providers because of the nature of their work. Many medical specialties are looking for new payment solutions that will streamline the revenue cycle and make it easier to collect patient payments.