Running a healthy practice under increasingly complex conditions is hard enough. The last thing practice leaders want to worry about is how payments are being collected from patients. All they care about is that they are in fact being collected.
So to reduce the burden of inadequate technology, financial leaders must adopt integrated payment solutions to streamline the patient payments process.
What is an integrated patient payment solution?
Integrated payment solutions are those that can be connected with existing systems to easily process payments and pull financial reports. For example, Easy Pay’s credit card on file payment system integrates with existing EHR systems and allows front office staff to easily recall a patient’s information, process, and post payments.
Integrated payment processing is essential for providers who have little time to make failed collection attempts and keep track of delinquent payments.
Benefits of an integrated payment solution
- Improved workflow efficiencies
- Better, more accurate reporting
- Improved patient collections
- Better compliance and security
- Decrease in patient bad debt
- More time for key staff to perform other duties
Let’s take a closer look at two of the biggest benefits of integrating your patient payment processes.
1. Improved workflow efficiencies
For busy providers and their staff, spending hours of each day trying to track down patient payments is a poor use of time. Your staff is extremely busy and they have multiple responsibilities to worry about each day. Removing the burden of patient payments will improve other areas of your practice’s operations, such as improving the patient experience.
2. Improved patient collections
Not only will you save time that can be spent on other activities, with an integrated payment solution, your practice will also see patient bad debt begin to decline. This becomes increasingly important as patient’s shoulder more financial burden today than they did five years ago. And when costs rise, your practice suffers. Patient collections are much easier to collect when you have the right systems in place to do so.
In the coming years, an integrated patient payment solution will be a necessity. As patients struggle to pay their bills, they will simply ignore their medical bills. To avoid that altogether, use an integrated payment solution like Easy Pay that not only integrates with your current practice software, but creates a culture of collections in your practice. Integrated payment solutions are the foundation for sustainable patient payments.