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Patient Payments Blog

Credit Card-On-File Is The Best Way To Ensure Payment: Is It Worth The Risk?

Posted by Jim Turner

May 24, 2018 8:17:00 AM

Card-on-file and automated recurring payment plans require practices to obtain credit card information for later use. That causes some doctors pause.

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Topics: Healthcare Data Security, Credit Card On File

Free PDF DownLoad: Card-on-file Collections Scripts

Posted by Jim Turner

Feb 22, 2018 8:37:00 AM

Past due patients are hard to reach. Once you do you must make the best of the call. If you have a card-on-file system, you have the power to take control of the collections process in a patient friendly way. We have developed simple questions (scripts) to help you maximize every contact with past due patients. Download the PDF by clicking on the graphic. The link will take you to the download page. 

 

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Topics: Financial Policy, Scripts, Back Office Tips, accounts receivable, Payments, healthcare payments, Patient Balances, Credit Card On File

[Podcast] Practice of Therapy Interview

Posted by Jim Turner

Dec 12, 2017 8:28:00 AM

We had the privilege of being interviewed by Gordon Brewer of The Practice of Therapy. Gordon is a consultant to Psychotherapy and Counselling practices. He helps practices conduct their businesses in a profitable way and specializes in helping clinicians move into private practice. 

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Topics: Back Office Tips, Credit Card On File, Financial Policy

An Easy Graphic: What Actually Happens When You Get A Card-On-File?

Posted by Jim Turner

Oct 18, 2017 9:13:00 AM

So, what's the big deal about card-on-file? What magic happens if you start asking patients to give you a credit or debit card to place on file? We've created a simple graphic to show you. 

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Topics: Credit Card On File, Patient Centered Practice, medical practice management, New Healthcare Consumer, Healthcare Reimbursements, Medical Billing, Medical Office Administration

Printable Graphic: 5 Essential Payment Questions

Posted by Jim Turner

Oct 3, 2017 8:47:00 AM

As a follow-up to last weeks video we have created a printable graphic with the five essential questions for securing on-time patient payments. We know how important it is to ask the right questions at the right time. Staff members often get stuck when discussing payment with patients. This graphic will give them a place to start and a way to ensure that payment will be made in a timely fashion. 

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Topics: Credit Card On File, Patient Balances, Patient Centered Care, Patient Collections, Patient Engagement, Patient Payment Solutions, Front Desk Tips, Front Office

77% of Practices Take Risks With Patient Payments

Posted by Jim Turner

Sep 12, 2017 8:43:00 AM

 

 

When we talk of risk, one of the first things that often comes to mind is skydiving. The reality is that there's a 0.3% rate of injury for every 1,000 jumps. That could mean anything from a minor scratch to a life threatening injury. The truth is that you are taking more risk on your daily commute. The average driver is more likely to be involved in a fatal car crash than the average sky diver is to get injured. In a similar way, practices think they are taking risks if they talk to their patients about money when, in fact, they are taking a larger risk by not talking to them. 

In the same survey I linked to last week (https://revcycleintelligence.com/news/36-of-providers-never-address-patient-financial-responsibility) is a little reported survey statistic. Only 23% of practices ALWAYS discuss payment with their patients. That means the remaining 77% sometimes or never discuss payment. That’s quite a risk.

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Topics: Credit Card On File, Financial Policy, Patient Balances, Patient Centered Practice, Patient Collections

Scripts For A Softer Approach To Collecting Past Due Balances

Posted by Jim Turner

Aug 9, 2017 8:37:00 AM

This post is the ‘how to’ for last week’s post ‘One Call Collections For Past Due Balances’.

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Topics: Credit Card On File, Front Desk Tips, Back Office Tips, Patient Collections, Patient Collections Culture, Patient Centered Practice, healthcare payments, medical practice management, practice management

The $1 Cure: Securing Payment At The Front Desk

Posted by Jim Turner

Jul 25, 2017 9:23:00 AM

 

When speaking to doctors and administrators about getting paid at EOB through the use of card-on-file, I often get asked how to enforce the policy. It’s a great question and is as simple as spending a dollar.

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Topics: Credit Card On File, High Deductible Challenge, Medical Billing Solutions, Medical Office Administration

What I Like About Collecting Past Due Bills [With Free Resources]

Posted by Jim Turner

Jul 19, 2017 8:22:00 AM

What do I like about collecting past due accounts?

Nothing.

Really, I can’t think of anything I like about the process of collecting on past due accounts. What about you? Ok, there’s that glimmer of satisfaction when you finally win the phone tag and excuse battle and get a payment in, no matter how small. But that glimmer fades quickly when you look back at your ‘still to collect’ list.

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Topics: Credit Card On File, Patient Collections, Patient Collections Culture, medical practice management, Patient Centered Practice, Medical Office Administration, Free Offer, High Deductible Challenge, Medical Billing

Your Credit Card Terminal Is A 1963 VW Beetle.

Posted by Jim Turner

Jun 13, 2017 8:13:00 AM

There it sits. Innocent, inconspicuous, quiet, and familiar. So familiar, in fact, that you probably haven't noticed how dangerous it's become. I don't mean dangerous in the sense that it's going to leap off the counter and attack. I mean dangerous in the way a 1963 Volkswagon Bug is dangerous compared to modern cars. It's nostalgia is so comfortable that one is tempted to keep it because it's so darn cute and reminiscent of a simpler time. Why would I want to upgrade something that works just fine and everyone knows how to drive?

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Topics: Credit Card On File, Cybersecurity, medical practice management, practice management, Patient Payment Solutions, Patient Payment Technology, Patient Payments

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