Many medical professionals are in need of reliable payment processing options to increase cash flow and reduce the amount of overdue patient payments. Instead of relying on traditional billing methods, medical professionals can now take advantage of health payment systems. These systems allow doctors, dentists and other medical professionals to process payments using secured credit card processing systems.
Here are just a few reasons why doctors and other medical professionals should use health payment systems.
Increase the Number of New Patients
With the rising cost of healthcare, many patients are not able to afford high cost deductions and medical expenses. However, if patients were given the option to apply for medical credit –even with poor credit – doctors would see an increase in patient visits. This is because patients would have the option receive immediate treatment and make small monthly payments to cover their expenses.
Besides gaining more patients, another benefit to having a health payment system is healthier patients. Many patients would accept a treatment plan now rather than waiting months or years if given the option of automated payment plans. For patients with little or no health insurance this can help improve their health and avoid costly medical expenses in the future.
Reduce Overdue Accounts
Many professions have slow times during the year. With health payment systems, collections can be reduced allowing providers to collect more money while increasing their bottom line.
Statistics show that most doctors do not even collect 49% of what is owed by their patients, however with a payment system the rate of collection can increase to over 90%.
A payment system can eliminate the need to send out numerous billing statements and save money by reducing the time it takes to make collection calls. This is not to mention the money that can be saved on staff and postage.
Technology is advancing and healthcare professionals need to utilize it effectively. Doctors, dentists, chiropractors and other medical professionals can benefit from the investment in a reliable payment system.
Improve your practice by ensuring your medical care is affordable and accessible to as many people as possible.