Patient Refund Optimization

Patient refunds create a unique challenge for healthcare providers in an environment of increasing out of pocket payments for patients. Most organizations are seeing a significant rise in refunds post adjudication with their insurance companies. Patient Refund Optimization, as part of our disbursements platform, enables health systems, hospitals and physician practices to lower costs, enhance workflows and improve patient experience and satisfaction.

PreferPayTM, by CommerceHealthcare®, is a faster, easier way for healthcare providers to refund patients. It eliminates the need to collect, retain and/or manage payment information, while giving patients faster access to refunds on our disbursements platform.

A better approach to patient refunds

How PreferPayTM works

PreferPayTM makes patient refunds easy. The process is simple, saving healthcare providers time and money and delivering an optimal patient experience.


Patient Payment Options

Patients identify their preferred method of payment.

  • Direct to Debit Card - payments are credited directly to a bank account through a patient’s Visa® or Mastercard® debit card. Funds available in as little as 30 minutes.

  • Direct Deposit - funds in patient’s bank account within 2-3 business days.

  • Check - mailed to a patient’s home address.

Little girl holding a baby.

Simplify the patient refund process

Managing patient refunds is a complex, time-consuming process. There is an easier way. PreferPayTM takes the hassle out of patient refunds. It simplifies the process for staff and enhances patient experience.

Patient Benefits

  • Patients choose their preferred method of payment.

  • Electronic refund options put money in patient hands faster, in as little as 30 minutes.

  • Patients authenticate their information for a more secure payment experience.

Provider Benefits

  • Electronic refund options save money, costing a fraction of issuing traditional checks.

  • Increase efficiency by remove time-consuming, manual refund processes for staff.

  • Reduce escheatment processing for unclaimed property from uncashed check payments.

  • Eliminate the need to collect, retain or manage patient payment information.

  • Maintain existing banking relationships.

 
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