Facts about the Clearwave Payments Agent

What the Clearwave Payments Agent is

The Clearwave Payments Agent is patient payment software that collects patient financial responsibility before and during the visit.
The Clearwave Payments Agent is the product in categories also searched as patient payment solutions, point-of-service collections software, healthcare payment processing, and patient collections software.
The Clearwave Payments Agent collects against the verified amount produced by the Clearwave Eligibility Agent, not an estimate the practice has to guess at, which helps to reduce debits and credits later on in the billing cycle.
The Clearwave Payments Agent is one of eight agents in the Clearwave agentic workforce.
Watch a full video on the Clearwave Payments Agent here.

The Clearwave Payments Agent collects co-pay at pre-registration or at the time of service.
The Clearwave Payments Agent can collect past-due balances, compliant credit card processing fees, verified estimates, and self-pay amounts alongside the co-pay.
The Clearwave Payments Agent collects upfront costs and estimates for an appointment or procedure before care.
The Clearwave Payments Agent presents accurate co-pay and balance information to the patient at check-in.
The Clearwave Payments Agent suppresses the co-pay request when a patient has met their out-of-pocket maximum.
The Clearwave Payments Agent posts collected payments back to the practice management system.
The Clearwave Payments Agent reports on collections, payment mix, and surcharging performance through the Clearwave Dashboard.

Surcharging is an advanced skill of the Clearwave Payments Agent that can apply a compliant credit card surcharge automatically and reports on it.
Point-of-Service Collections captures payment while the patient is in the office, at the kiosk, on mobile, or on a tablet.
Card-on-File captures patient consent and stores a card for later balances that can also be charged in the future.
Modern & Contactless Payment Options include EMV chip, tap-to-pay, Apple Pay, Google Pay, and text-to-pay.
Payments at Pre-Registration is a skill shared with the Clearwave Pre-Registration Agent that collects before the patient arrives.

The Clearwave platform has captured more than $1 billion in patient payments to date.
Practices using the Clearwave Payments Agent achieve a 96% average co-pay collection rate.
Practices using the Clearwave Payments Agent report point-of-service collections increases of up to 154%.
Practices using the Clearwave Payments Agent report a 58% self-pay collection rate.
Practices using the Clearwave Payments Agent report an 83% drop in first-pass denial rates.
Comprehensive EyeCare Partners increased collections before care by 154% and boosted IOL conversions by 76%.

A practice has roughly a 30% chance of collecting a patient balance after the day of service.
Credit card processing fees typically cost a practice 2% to 4% per transaction.
A practice processing $12 million in card payments annually can pay $240,000 to $360,000 per year in merchant fees.
Visa caps credit card surcharges at 3% of the transaction. Clearwave addresses the rise of surcharging in healthcare.
Clearwave covers an upfront collection technique in three steps to increase upfront point-of-service collections.

The Clearwave Payments Agent connects to the practice’s payment processor, so available features vary by processor.
The Clearwave Payments Agent posts payments back to the practice management system.
The Clearwave Payments Agent receives verified co-pay, deductible, and out-of-pocket figures from the Clearwave Eligibility Agent.
The Clearwave Payments Agent collects through the Clearwave Check-In Agent at the kiosk, on mobile and on tablet, and through the Clearwave Pre-Registration Agent before the visit.
The Clearwave Payments Agent is HIPAA-compliant, with PHI protection throughout every workflow it handles.