The healthcare industry has shown incredible resilience in 2020 and 2021, rising to the immense challenges presented by the COVID-19 pandemic. As the world begins to move toward a new normal, how can medical practices and healthcare organizations bolster their financial stability and capture opportunities to improve patient experience? Here we explore how Buy Now, Pay Later (BNPL) payment solutions can deliver powerful results on both fronts.

Healthcare providers adapt to shifting priorities
On the heels of the pandemic, healthcare providers are facing multiple stressors, including downward pressure on revenues and rising input costs fueled by severe labor shortages. The result is a sharp focus on financial strength—namely, the need to stabilize cash flow, boost margins and optimize the management of accounts receivable.

At the same time, the healthcare industry is striving to adapt to an accelerating shift from traditional fee-for-service reimbursement models to payment models which link reimbursement to quality and cost—generally known as value-based care arrangements. As value-based care becomes an increasingly important part of short- and long-term strategy for healthcare organizations, leaders are emphasizing the ability to deliver differentiated, high-quality patient experience.

In today’s environment, affordability is a central component of patient experience, given that approximately one-fourth of U.S. adults say they or a household member have had problems paying medical bills in the past year.[1] The billing and payment process also plays a key role in patient experience. In fact, historical data suggests hospital patient satisfaction ratings can fall by double-digit percentages from post-discharge through the billing process.[2]

How Buy Now, Pay Later solutions can deliver compelling results
BNPL presents healthcare providers with an opportunity to meet their most critical objectives of improving financial performance and patient satisfaction. With BNPL, patients can split a single healthcare bill into several installments. This innovative payment solution gives patients the flexibility to bypass the traditional lump sum payment model—without having to turn to high interest-rate credit cards.

BNPL generates tangible results for healthcare providers, including:

  • Consistent cash flow – Providers collect more payments and reduce outstanding balances without resorting to fee-based collection companies.
  • Improved front office efficiency – Healthcare teams capture payments with fewer follow-up efforts, reducing the costs associated with getting paid.
  • Revenue growth – Payment flexibility helps patients overcome affordability issues, drawing in new patients and fostering stronger loyalty among existing patients.
  • Increased patient satisfaction – Patients appreciate a convenient, simple payment option that helps healthcare expenditures fit into their budgets.

Certegy’s Buy Now, Pay Later solution
Our BNPL solution allows patients to split a bill into several interest-free installments over 45 days. Payment dates and amounts are customizable, meaning you can create a payment plan that works for each patient’s budget and your practice’s cash flow needs. As soon as the payment plan is submitted, Certegy manages the scheduling, validation and transfers. You receive the full amount within 24-48 hours of the transaction’s approval. Certegy’s BNPL solution is available on our Virtual Terminal, a web-based platform accessible from any device. Healthcare providers can also seamlessly integrate Certegy’s BNPL solution into their online payment portals and take advantage of optional white-label branding.

To learn more about payment solutions for your medical practice, contact us.



[1] Henry J Kaiser Family Foundation, “Data Note: Americans’ Challenges with Health Care Costs

[2] Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) 2015 results, as cited in The American Journal of Managed care