There are many patient estimating and conventional payment plan systems out there — but very few of them work well. In 48 months of service, our advanced estimator and Dynamic Balance Adjusting AutoPay Plan system has helped prevent millions of dollars of patient liabilities from becoming bad debt, while also dramatically improving revenues and cash. And, this success is being demonstrated at more and more medical systems across the country, and in challenging demographic regions.
Proprietary Tech
More Than A Medical Billing System:
Transform Patient Liabilities Into Recurring Revenue, Not Bad Debt
How It Works
Our exclusive, patent-pending technology starts with the most sophisticated patient cost estimating model available. VestaPay accounts for the trends and precedents set by tens of thousands of doctors and millions of procedures that have been undertaken over time, accounting for insurance payouts, patient participation, and changing healthcare expenses as it relates to costs of goods, technology upgrades, and even inflation. Before a patient makes a single payment, we will be able to give the most accurate estimate possible of what that final bill is going to be.
90% of patients who make their first payment using our system end up paying their bill all the way to completion.
No standard medical billing system can make that claim.
In addition, our revolutionary Patient Medical Billing Software is the only system that combines an advanced estimator with VestaPay’s proprietary Dynamic Balance Adjusting AutoPay Plan system that secures 100% of the patients known and unknown liability at time of service. The VestaPay DBA AutoPay Plan system then automatically adjusts the term of the plan to match the final amount owed after insurance claims have been processed and all accounting adjustments have been applied. Hospitals realize an immediate increase in cash at TOS with a corresponding increase in revenue and cash every month thereafter. This exclusive system preserves in most all cases the amount a patient pays on a monthly basis (eliminating the havoc typical medical billing systems impart on a patient’s monthly household budget!). The remarkable outcome of the VestaPay DBA AutoPay Plan system is the capture and securing of 100% of the patient’s liability, secured at time of service, but then realized through the ongoing DBA adjustments. Where else can hospitals find tools that enable them to secure 100% of their patients’ liabilities at the time of service, when they don’t know exactly what the patients’ will owe at that point in the treatment cycle?
Our System In Situ:
Let’s say a patient is enrolled in VestaPay and is scheduled to make six monthly payments to cover their bill. As soon as they make the first payment at time-of-service, they’ve already surpassed the standard 10-12% that many healthcare systems are seeing. If it’s 12 months of payments, just two payments already puts both them and you ahead of the game.