The healthcare industry continues to adapt and change to the times, and your medical clinic should not be left behind. Even without the COVID-19 pandemic speeding up the process of contactless services, the medical world was already moving toward a digital environment. Along with the rise in virtual care, there has been a need for digital payment options, or at least more variety. Medical bill debt continues to rise, but offering alternatives like payment plans or credit card options helps patients budget it out. Even for patients who do not need a payment plan, online payments are one of the best ways for medical clinics to increase their chances of a full reimbursement. In general, online bills and payment options often result in a more timely bill completion by the patient.
Another choice to consider: mobile wallet capabilities. Also called digital wallets, they store a person’s payment information in one secure, easy-to-access place. They typically use Near-Field Communication-enabled or QR technology. Mobile users can store a multitude of digital payment options in one place and then pay with a tap of their phone. Most notably, stores and organizations have started to support Apple Pay, used by Apple iPhone users.
If medical clinics want to continue to evolve their services, investing in the time and equipment to support a variety of payment plans will help their overall revenue cycle and patient satisfaction. Luckily, there are many software options out there to support online payments when sending out medical bills. When it comes to patients paying while in office, the front staff will need the proper equipment. Some card processor machines also have the capability to accept mobile wallet payments, which could be a good investment.
The experts at Outsource Receivables Inc. are well versed in how to modernize the payment process and the software that will help improve a specialty clinic’s revenue. Give us a call if you’re looking to save money by improving your overall billing process.