What is AVIA Marketplace?
An engine to accelerate your vendor selection process.
AVIA Marketplace is the leading online resource for unbiased information about digital health companies and solutions. Healthcare leaders can access thousands of vendor profiles, refine by product category, solution type, and EHR integrations, see honest ratings and reviews, and generate Match Scores to find vendors with experience serving similar organizations. AVIA Marketplace simplifies the vendor selection process and provides critical additional transparency, helping hospitals and health systems leverage each other’s experiences to make better decisions together.
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About digital patient billing and payment
Patient billing and payment is the ability of individual patients to access their billing information, understand their coverage and financial responsibility, and complete payment.
Out-of-pocket costs for patients are rising, and health systems have seen corresponding increases in bad debt and administrative costs related to collections. On average, providers only collect about 40 percent of outstanding patient balances. As the proportion of revenue attributable to patients continues to grow, effective management of patient receivables is essential to protect health system margins.
Digital patient payment and billing solutions can improve patient financial engagement with greater visibility into their financial obligations, streamlined billing information, and flexible payment capabilities. Health systems that successfully implement digital patient billing and payment solutions can drive liquidation of patient balances and help create and support positive margins for health systems. AVIA Marketplace estimates that each percentage point of lift in digital payments translates into approximately $2 million in net collections.
What many of the leading solutions offer:
- Self-service out-of-pocket cost estimators
- Digital statements
- Statement consolidation
- EOB reconciliation
- Flexible payment options
Introduction to the report
The Top Patient Billing and Payment Companies Report is a resource designed to guide healthcare professionals in their quest for exceptional operational and customer oriented solutions. This report offers perspective on prominent provider documentation companies as reflected in the client reviews gathered on AVIA Marketplace and presents a selection of leading-edge solutions and companies.
This report is organized around client reviews that provide insight into the impact these solutions have had with the organizations they work with and include concise summaries that could assist in pinpointing solutions tailored to your unique needs. Our AVIA Marketplace serves as an additional resource, facilitating access to detailed company profiles, verified client lists, comparison of various solutions, and Match Scores to streamline your selection process. For even greater depth, AVIA experts are available through a Marketplace Product Review (for digital health solutions) and AVIA Membership (for hospitals and health systems). Ready to learn more? Send us a note!
Our methodology
The data that powers this report stems directly from the AVIA Marketplace, informed by reviews and by the number of verified health system clients associated with each company featured in the marketplace. In observance of confidentiality agreements, the complete client lists may not always be available from vendors.
Please note that the data presented is dynamic and subject to change over time. Therefore, we advise that decisions drawn from this information should be made judiciously, backed by thorough consideration.
AVIA's perspective and report limitations
Please note that this information does not reflect the opinions or views of AVIA as a whole, or AVIA Advisory Services. Rather, it reflects data captured on AVIA Marketplace at a point in time. This data is subject to change over time.
We at AVIA acknowledge the diverse strategies hospitals employ when selecting technologies. The reviews herein can offer valuable insight, but we also encourage considering other factors, like EMR integration, experience with clients similar to your organization, or overall market presence, which may prove pivotal in decision-making. We endeavor to provide a comprehensive analysis on these other aspects as well.
Our unique Product Grid, powered by our proprietary Match Score, is a useful tool to consider in your evaluation process. This methodology ensures that the products featured not only meet the buyer’s specific requirements but also exhibit solid market establishment.
Top-rated patient billing and payment companies
The top-rated patient billing and payment companies were the most-reviewed within their product category. Companies in this section have all received the “top-reviewed” recognition and the order does not indicate a ranking.
4.67
RevSpring leads the market in healthcare engagement and payment solutions that inspire patients to participate in and pay for their healthcare. We’ve built Engage IQ™, the industry’s only connected patient engagement suite designed to coordinate patient interactions from pre-care to post-care to payment. RevSpring’s intelligent, holistic platform puts patient understanding at the center of one connected personal experience, allowing providers to fully optimize patient satisfaction, data accuracy, staff efficiency and financial outcomes. The company’s OmniChannel communications and payment solutions are backed by intelligence, analytics, contextual messaging and user experience best practices. RevSpring was rated #1 for Most New Capabilities in Patient Engagement by KLAS in 2023 and Best in KLAS in Patient Communications in 2024.
5.0
Waystar delivers innovative technology that simplifies and unifies healthcare payments. The company’s cloud-based platform helps healthcare providers across all care settings streamline workflows, improve financial performance and bring more transparency to the patient financial experience. Waystar solutions have been named Best in KLAS or Category Leader by KLAS Research 16 times (across multiple product categories) and earned multiple #1 rankings from Black Book. The Waystar platform is used by more than half a million providers, 1,000 health systems and hospitals, and 5,000 payers and health plans—and integrates with all major hospital information and practice management systems. On an annual basis, Waystar’s AI-powered solutions process $5B in patient payments, generate $4B in out-of-pocket estimates and process claims representing approximately 40% of the U.S. patient population.
5.0
Flywire is a global payments-enablement and software company, trusted by organizations around the world to deliver on their customers’ most important moments. Our responsive billing and payments platform leverages deep analytics and machine learning to understand your patients capacity to pay, their preferred method of engagement, and where on their healthcare journey we need to meet them. We’re delivering on your patients most important payments and maximizing collections for you and financial peace for your patients.
5.0
CampTek Software is a Full-Life-Cycle Intelligent Automation SaaS Provider with proven results implementing and supporting automation solutions through our successful methodology. Our unique hosted model offers many powerful advantages including a shorter time to market, 24/7 support and overall lower cost of entry. Our approach is simple and repeatable. CampTek will be with you on every step of your RPA & AI Journey!
5.0
Cedar offers the first and only holistic solution that enables providers and payers to come together to offer an exceptional and affordable consumer financial healthcare experience. We’re reimagining the consumer aspects of healthcare, from the time an appointment is booked all the way to final payment. Only Cedar can take advantage of critical payer information and bring it together with provider financial and administrative processes to create the optimal experience for consumers navigating our challenging healthcare system.
5.0
Make your operations more efficient: With Passport Authorizations, inquiries take place without user intervention, as does status monitoring. Submissions guide staff through the workflow, auto-filling all information Experian Health has received and prompting users only if their involvement is required. Access the industry’s most complete payer database: Experian Health’s pre-authorization knowledge base stores and dynamically updates payer prior authorization requirements. Your staff can check whether prior authorization is required for a particular procedure or service, and the knowledge base automatically responds to queries with information needed.
5.0
R1 RCM is a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers. R1’s proven and scalable operating models seamlessly complement a healthcare organization’s infrastructure, quickly driving sustainable improvements to net patient revenue and cash flows while reducing operating costs and enhancing the patient experience.
Find your new patient billing and payment solution.
Out-of-pocket costs for consumers are growing at a rapid rate, which leads to a corresponding increase in financial risk for health systems. Intelligent digital patient billing and payment solutions inform and engage patients throughout their care journeys with better information about their insurance coverage, cost transparency before care is delivered, and convenient, flexible payment options. Health systems can more accurately predict which patients will pay and direct their resources appropriately.
Visit AVIA Marketplace to explore the companies listed in this report and thousands of other digital health companies and solutions. You’ll find verified client lists, use cases, differentiators, and more to help you streamline the vendor selection process and identify companies that can fulfill the unique needs of your health system.
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