PayZen

Hospitals and health systems are facing rising self-pay balances and growing bad debt. How can they increase collections without creating financial barriers and increasing patient hardship? The University of Texas Medical Branch found the answer with PayZen. By integrating PayZen’s AI-powered patient financing solutions, UTMB: ? Increased self-pay collections by 25% ? Grew pre-service payments by 37% ? Boosted payment plan participation by 183% ? Saw 14% growth in their in-house payment plans ? Achieved a 71.1 NPS Score among UTMB’s patients using PayZen (Industry Average 45) UTMB’s story proves that hospitals and healthcare systems can enhance financial stability while improving the patient experience. ?? Read the full case study to see how PayZen delivers measurable results:?https://lnkd.in/gJT6iskZ #RevenueCycleManagement?#HealthcareAffordability?#PatientExperience?#AIinhealthcare

In the U.S., medical debt is the #1 cause of bankruptcy, leaving millions of people financially vulnerable. PayZen is leading the charge to change that. Using AI-driven patient financing, we’re breaking barriers to care and empowering patients and providers alike by offering flexible, interest-free payment plans that prioritize patient well-being while streamlining revenue for healthcare providers. With PayZen, no one has to choose between health and financial stability. https://lnkd.in/gvYmMzWK

Viva Las Vegas! ??? The PayZen team is looking forward to attending?HFMA Western Region Symposium?next week. Visit?Keith Bourne, CPXP and?Caroline Dew at booth 421 to discover how PayZen’s AI-powered platform unlocks incremental revenue and cash flow while delivering an empathetic, high-quality patient experience. Plus, don’t miss your chance to win exciting giveaways! We can’t wait to connect, share insights, and explore how we can shape the future of healthcare finance together. See you there!

?? Did you know 66% of Americans live paycheck-to-paycheck? For many, this means medical care is delayed or skipped entirely. This ripple effect impacts: ?? Patients and their health outcomes ?? Communities and overall well-being ?? Healthcare providers and financial stability Our newest blog post, "6 Surprising Costs of Ignoring Patient Financing," uncovers the unforeseen consequences of ignoring these challenges—and how patient financing can help improve financial health for providers and patients alike. https://lnkd.in/g2skiEU9

It has been a wonderful 2024, and as we all are (hopefully) able to take a break and recharge, we look back on the successes of the past year and the opportunity that a new day offers.

“This partnership highlights Palomar Health’s ongoing mission to reimagine healthcare by providing innovative patient-centered solutions,” said Diane Hansen, President and CEO of Palomar Health. “With PayZen, we’re making it easier for patients to prioritize their health without financial stress.” Read more in this press release: https://lnkd.in/gUjq5EsX

Grateful for the opportunity to discuss founder and team performance wisdom with Itzik Cohen. I deeply admire the exceptional work he and the PayZen team are putting into building their vision and am excited for the future! #StriveForGreatness

The right patient financing partner can make or break your ability to provide accessible, affordable care. Today, nearly half of American adults struggle to afford healthcare, and 61% avoid care altogether due to financial barriers. This reality makes patient financing more critical than ever—not just for improving financial performance but for enhancing patient access and outcomes. When choosing a financing partner, consider these key questions: ? How will it impact patient experience? Are there credit checks, hidden fees, or confusing processes that might discourage patients? ? How will it affect cash flow? Will it boost patient collections and volume by making care more affordable? ? How will it impact your team’s workload? Does it streamline workflows or create extra administrative headaches? Our new blog post dives deep into these questions (and the answers to consider). Let us know if you if we missed any: https://lnkd.in/gMbuhKXN #PatientFinance #HealthcareInnovation #RevenueCycleManagement #PatientExperience #PayZen

?? Hospitals are the backbone of our communities, yet many are struggling to stay financially afloat. With nearly 40% of U.S. hospitals expecting operational losses in 2024, the sustainability of our healthcare system is at stake. The affordability crisis impacts everyone—patients delaying care due to costs, families burdened with debt, and providers strained by administrative inefficiencies. But there’s hope. By leveraging patient-centric financial solutions and cutting-edge technologies like AI, hospitals can improve cash flow, enhance patient experiences, and secure their futures. Read the op-ed (link in comments) from PayZen's CEO Itzik Cohen in HIT Consultant Media about how we deliver sustainable, accessible healthcare for all. #healthcare #healthcarecosts #hospitalfinance #healthcareindustry #patientcare #healthcareinnovation

Join Tobias Mezger and HFMA Colorado Chapter on Dec 12th at 12pm MT in a webinar that will dive into Revenue Cycle Regulations and the future-proof technology needed. ?? Be able to summarize key regulatory focus areas ??? Understand the potential for technology, particularly AI/ML to reduce admin burden ? Learn strategies to evolve your patient financing approaches Sign up with Region 10: https://lnkd.in/gp6KfwTA