Posted by Ashley Jones, Global Payments Integrated
When we discuss automation or adopting new digital technology, sometimes practitioners think this means buying the latest and greatest devices; however, that’s not the only way to do so. A key area of focus when it comes to automation is at the point of payment. Why? In the healthcare space, the billing process is usually the first and last interaction a patient has with a provider. A negative experience could impact their bottom line. Here are three ways that payment automation within your chosen practice management software can help create a winning strategy for your practice.
In-Office Payments
Collecting patient payments during the visit is the most preferred and most efficient way for practices to get paid. Traditionally, the most common forms of payment include cash, check, or credit/debit cards. With the growth in payment technology, new trends have emerged that are giving these foundational methods a “run for their money.” These trends include contactless payments, which allow patients to pay quickly by simply tapping their card or smartphone near the payment terminal.
Recurring Payments
Having patients’ cards on file gives practitioners the ability to securely store credit cards that can be used for a future transaction. No more taking payments over the phone, which can lead to miscommunication and take valuable time away from staff. Keeping credit cards on file can also decrease the number of outstanding patient balances.
Meditab has an automated system of updating expired or outdated card information, which saves practices the time, effort, and expense of tracking down the information manually - thereby reducing card declines.
Patient Ledger
Practice management systems should have capabilities to automate payments by posting directly to the patient’s account rather than manually entering each transaction. This creates efficiency in auto-posting payments to the patient ledger and saves staff time at the end of the day. Creating a process to take payments, offering payment plans, and using an automated system for posting, speeds up the process and creates a better workflow for staff and patients.
Embrace the modern trends of digitalization. These capabilities can make your practice more profitable and more efficient and will allow you to focus on taking care of your patients.
Automation is key to a successful practice. Discover the convenience integrated payment processing can bring to your practice.
Ashley Jones is the Marketing Content Coordinator at Global Payments Integrated, where she is responsible for digital content strategy, development, and analysis.
This post was originally published on globalpaymentsintegrated.com.