Case Study: TriCore Reference Laboratories achieves 8x increase in online payments and streamlined collections with InstaMed

TriCore Streamlines Payment Collections With Automated and Electronic Channels

TriCore Reference Laboratories (TriCore) faced growing unpaid patient balances—many under $25—because patients often assumed lab work was fully covered and TriCore relied on paper statements and manual follow-up. To address this, TriCore partnered with InstaMed, implementing solutions such as InstaMed’s Auto Payment Collect, Patient Portal and Healthcare Bill Payments integrated with their Fast Orders system to engage patients earlier in the payment journey.

InstaMed’s solution let TriCore securely save cards on file at the point of service, automatically collect adjudicated balances, and offer convenient online payment options. The results with InstaMed include an 8x increase in online payments, a 32% rise in online payment volume, a 53% increase in online payment transactions, 65% of transactions now online (15% automated), and a 115% increase in cards saved on file, significantly reducing paper statements and uncollected small balances.

TriCore

Denise Mazon

Director of Payer Strategy and Revenue Management