Since it specializes in healthcare management and payments, InstaMed’s services focus on that. It offers a payment estimator, a variety of payment acceptance methods, payment plans, billing options, and more.
The InstaMed payment estimator automatically estimates your patients’ expected portion of the bill. It also processes insurance verification, securely stores info for payment, and allows you to configure fee schedules.
There are multiple ways to pay, and InstaMed supports a bunch of them. You can keep patients’ card details securely on file, automate payments, set up payment plans, and allow patients to create digital wallets to pay from. You’ll be able to accept Visa, MasterCard, American Express, Discover, checks, cash, and HSA and FSA payments.
Your clients will have the choice of paying at the time of service, by phone, with a contactless option like Apple Pay, online, or using their bank’s bill pay option.
For clients that need payment plans, you can customize and automate payment plan billing. Payments can be scheduled according to a pre-arranged payment plan, with staff and patients receiving notification when a payment is made.
A patient billing option lets you easily send bills and other communications to your patients through a patient portal. You’ll be able to reduce paper and postage costs and save time while also enabling online payments.
You can reduce the amount of time staff has to spend dealing with claims to insurance companies by using the claim management tools. You can monitor claim status in real-time and manage rejected claims.
Kareo is practice management software designed for independent practices as opposed to hospitals. InstaMed integrates with Kareo to enable payment processing. (Note, it’s not required to use InstaMed with Kareo or vice-versa, but the two have a seamless integration option.)
InstaMed is PCI and EMV compliant, and utilizes encryption and tokenization technologies to ensure the safety of your patients’ card data.
InstaMed offers a Patient Portal, allowing your patients to make online payments and view information. Additionally, you’ll be able to view transactions, see a summary of payments, or view detailed reports. If you use the billing tools and claim management options, you’ll also be able to see reports on that activity.
InstaMed doesn’t publish rate or fee information on its website, although healthcare software solution Kareo lists rates for InstaMed. The rates and fees indicate tiered pricing, but it’s not clear if that’s all InstaMed offers, or if other pricing plans are available.
Specialized solutions often have less reviews available, and that holds true for InstaMed. The company does have a profile with the Better Business Bureau, but it offers little insight. InstaMed is not BBB accredited, and has a B+ rating as of spring 2016. There are two complaints, for which only one is publicly viewable. That complaint is from the patient side (complaining that InstaMed sent a payment to the wrong provider) as opposed to reviewing from the practice side.
With the limited information available, we’d love to hear firsthand experiences. If you’ve used InstaMed at your healthcare practice (for billing and payment acceptance or any other functions) eave a review!
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Posted by Sumner on Mar 16, 2023
Insta-med is a giant Nightmare. They cannot do anything, and their reps are insipid. Customers cannot pay on-line because they are blocked from Insta-med's site. The site is filled with incorrect patient information, which IM will not allow the patient to correct. I have lost enough patient's due to constant billing problems.
Posted by Matt on Oct 18, 2022
NEVER use InstaMed. They don't make it clear but they'll attempt to mail out prepaid cards for providers instead of payments. They're extremely uncoordinated and take forever for patients to get responses from. I've had multiple issues with them in a very short time period where they completely dropped the ball.
Posted by Cheryl S on May 09, 2022
I have had to sign up to receive our patient payments through InstaMed, but they want a driver's license to process the request. I have fulfilled all their requirements, except the driver's license. This should not be a requirement to receive patient payments for insurance payments.
Posted by Amy Farrell on Oct 21, 2021
If you are a health care provider, InstaMed will manipulate your patients into paying their copays through InstaMed, instead of paying you directly. Then, InstaMed will charge you to receive the copays. InstaMed is a parasitic company that interferes while the patient/provider relationship and profits accordingly.
Posted by Robert Spencer on Aug 11, 2018
When you try to sign up online they prompt for fields that you are not provided - like eStatementID. Looked all over the statement and no eStatementID anywhere? Can't sign up without it? Effectively, can't pay online! What's the point of having the website for payments? Extremely frustrating since it's difficult to call during the week.