How much time do you spend on your phone? If you’re like most Americans, your mobile screen time represents a high percentage of your waking hours. In fact, research by Asurion finds that Smartphone dependency in the United States has increased by 20 percent during the past two years with Americans checking their phone every 10 minutes (that is 96 times per day!).
Why not take advantage of all this phone time by sending patients a text when their bills are due? Again, research backs up this idea in compelling ways:
- 95 percent of texts are read within three minutes of being sent
- 90 seconds is the average response time to a text message
Text messages cut through the clutter, capture attention and generate response. Yet despite this overwhelming evidence, few in healthcare are harnessing the power of text messages to accelerate patient payments. In a RevSpring national survey of 3,000 people, 64 percent said they had never received an automated call or text to remind them to pay an outstanding bill – even though 77 percent said they trust paying bills online.
Paying by text is an idea whose time, most definitely, has come. It embodies a solid go-to payment strategy for millennials who are known for wanting minimal human interaction and greater convenience. With only having to reply “PAYNOW” to a provider’s text message, patients can complete payments in less than a minute – well within the millennial criteria.
Text-to-pay is the future of payments made easy. Your patients want the convenience, and you will benefit from receiving payments faster and with lower administrative costs. What could be simpler or better than that?