You Need Payment Plans for Gen Z Patients Now
You Need Payment Plans for Gen Z Patients Now
When a 24-something patient receives a high medical bill due immediately, there’s a good probability that they will delay or avoid payment for financial reasons. For medical providers, this creates a significant revenue challenge.
Medical practices across the country face a growing demand for flexible payment plans and financing. This is especially true for the youngest adult generation. Gen Z (born approx 1997-2012) came of age with ever-present technology, in a pandemic, and in the midst of an increasingly tumultuous economy. As a result, they prioritize digital convenience and simple solutions, particularly in healthcare.
According to a recent study, 52 percent of Gen Z worries about their financial security and stability. And since healthcare needs aren’t going anywhere, providers require a new approach to payments and the bill-paying experience. Many practices can’t meet the need for a simple payment process. So what is the best solution?
How PayGround Payment Plans Work
At PayGround, we recognize the importance of financial flexibility, especially for your Gen Z patients. This is why we offer no-interest payment plans—created specifically for providers and their patients. Our payment plans enable healthcare providers to offer patients a simple way to pay their balance over time.
The process is seamless — funds are automatically withdrawn on a monthly basis from the securely stored payment method, based on the minimums set by your organization. Patients will receive detailed receipts, including transaction amounts and remaining balances, ensuring transparency. Once the balance is settled, the recurring payments conclude automatically, making it a hassle-free solution.
By efficiently managing timely payments, PayGround’s payment plans streamline operations. Our payment plan allows buy now and pay later options (BNPL), which Gen Z utilizes more than any previous generation.
As Gen Z enters the workforce and navigates complex healthcare decisions, digital payment solutions are key. Healthcare providers who have implemented PayGround payment plans are already seeing the difference. Some of our providers have shared their experience with PayGround:
Real Results from Our Clients
Robert Dionne, CEO of Ultra EMS, an ambulance provider in Ohio, said, “The payment plan feature has become a pivotal tool for our organization.”
Dr. Busser from Norridge Foot & Ankle Clinic in Illinois said, “My patients appreciate the flexibility and transparency that the payment plan offers.”
Ready to transform your billing experience and provide your patients with flexible options? Join the growing number of practices that are meeting patients where they are with payment plans and digital bill pay.
Click here to schedule a demo and discover how PayGround can enhance your practice today!