WRS Partnership with TransFirst Increases Efficiency of Medical Practices’ Patient Payment Process
WRS Health (WRS) is the leading web-based provider of fully integrated EMR and Practice Management software solutions for physicians’ offices. WRS seamlessly integrates all of the clinical and business functions required for healthcare practices, including: Electronic Medical Records, Revenue Cycle Management, Personal Health Records, electronic prescribing (eRx), scheduling, website creation and content management, messaging, fax, order tracking and billing. WRS, which provides innovative workflow solutions for healthcare providers and medical offices, wanted to provide a tool to help providers increase the efficiency of their payment processing.
WRS partnered with TransFirst Health Services Inc., one of the nation’s premier providers of transaction processing services and payment processing technologies.
Emphasizing that many physicians’ offices have been using a point-of-sale device for payment processing, Clark A. Edwards, Portfolio Manager at TransFirst Health Services said that TransFirst Health Services offers a more efficient solution. “The point-of-sale device is a stand alone credit card terminal that sits in the front desk environment. The device plugs into a phone line, so it either has a dedicated phone line or it is sharing a phone line with the fax machine. The staff has to go over to the system, swipe the credit card, manually enter the amount they want to charge, wait for the transaction to go through and then rip the rolled up paper off to provide the patient with a receipt. That process is also done in the back office or ‘billing environment.’ If a patient sends a payment or calls in to make a payment with their credit card number, the
billing staff has to stop working, walk up to the front office and manually enter that information on the device. It’s very inefficient from a workflow standpoint. The device doesn’t post back to anything, so the staff has to manually enter that into the point of sale device, then turn to their computer, redo all of that work by entering the information into the patient ledger in the practice management system. At the end of the day they have to balance that machine out in order to get those payments to actually settle. That’s a manual process that is inefficient,” said Clark.
“TransFirst offers WRS clients a simple card reader. It’s a plug and play USB port. If the practice has five work stations they can plug in five card readers and everyone has access to it, including the person in the billing office. There are no drivers. You simply plug it into the computer and it acts as a keyboard emulator. When they swipe a credit card, it auto populates into WRS. For example, they can tell the card whether they are paying a $20 copay or $40 balance. Once that payment goes through, it’s also auto posting to the system. It’s a tremendous benefit to the practice’s workflow,” said Clark.
WRS integration with TransFirst also enables physicians to set up installment payment plans for patients via electronic funds transfer. “If a patient has a high deductible and he needs an expensive procedure, but he can only pay $100 a month, the medical practice has the capability to set up a recurring payment plan. Each month, $100 will automatically be pulled from the patient’s Health Savings Account (HSA), card credit card, checking or savings account. You set up the payment plan and tell how many times you want the payment to run. You set it and forget it. You don’t have to worry, because it will run every month. It’s a great tool for payment plans or balances that can’t be paid up all at once,” stated Clark.
WRS integration with TransFirst also enables physicians to easily reconcile accounts. “With a point-of-sale device, the physician’s staff had to manually batch the payments at the end of the day . With WRS, an auto batch runs automatically between 11:55 p.m. and 11:59 p.m. TransFirst deposits gross funds. We send a statement that is simple and easy to read. It says, ‘Here’s your MasterCard, Discover, etc. volumes.’ This function is tremendously efficient for the staff person who is responsible for doing the reconciling,” said Clark.
Yet another business need that the partnership provides is eliminating an employee’s trip to the bank to deposit checks. “With ACH they can go into our system and convert that check to an electronic transaction. The funds go directly to the bank, instead of an employee making the deposits at the bank. It’s another convenience. A lot of practices take checks from patients and they put them in a side drawer and those checks might sit there for a week. That delays the time the physicians are going to get paid,” said Clark.
Instead of waiting until the end of the month to receive a statement, physicians can log into Transaction Central hourly, daily or weekly to run settlement reports, detailed transaction reports and ACH reports.
WRS integration with TransFirst also provides physicians with a recurring report that will show all patients’ cards on file that will expire in the next 90 days. “They can proactively have the staff call the patient to get the new expiration date on the card or they can make a note on the account to ask for the updated information when the patient comes in,” said Clark.
Finally, Clark said, “There are a number of reports they can pull up, convert to Excel and download to their computer. This capability frees the staff and increases efficiency.”
Sciorra concluded,“WRS Health partnership with TransFirst substantially reduces the time that physicians spend processing payments, updating and balancing two separate systems and managing multiple payment options. The partnership is exemplary in bringing automation and efficiency to the patient payment process within the WRS EHR/EMR workflow.”
Top 10 Reasons to Process with WRS/TransFirst
Accessibility: WRS patient portal is fully integrated with TransFirst, allowing patients the ability to view their outstanding balances online 24/7, reducing your number of call-in billing inquiries.
Flexibility: Processing through WRS and TransFirst allows patients to pay their outstanding balances either in-person or on-line with all major credit and debit cards.
Quick Access to Funds: Payments will post to provider accounts within 2 business days, and can be directed to the financial institution of your choice.
Real-time Recordkeeping: 32% of patients using online payment portals pay the same day their invoice is received. Furthermore, payments will be instantly posted to the patient’s account allowing the site to determine where the payment should be applied.
Easy Reconciliation: Daily payment reports align with Provider deposits in order to simplify payment reconciliation.
24/7 Support: TransFirst offers around the clock technical support for both patients and providers through their toll-free service line that will connect you to a live, friendly voice rather than an automated system.
Contract-free: WRS and TransFirst are confident in their ability to provide the best processing service in the industry. If you’re unsatisfied with our processing system, you can leave at any time.
Security: WRS Patient Portals and TransFirst processing systems align with the best industry standards and fully PCI-compliant payment system to ensure that providers and patients can feel confident their personal information and data is safe and secure.
Save Time and Money: Healthcare providers are required to dedicate a great deal of resources to insure their financial records are accurate. With the WRS-TransFirst processing system, you eliminate manual processing and duplicative data entry. The ability to monitor your accounts is enhanced, allowing for higher collection rates and increased revenue.
Great Pricing: With the rollout of our integrated WRS-TransFirst E-Statement & Payment Processing system, TransFirst is offering a special pricing promotion for our clients.