Patient Payments Blog

Over the last few years, patients have seen a steady increase in their portion of the financial responsibility for medical bills. With the trend of rising deductibles, private practices find that a far larger portion of their yearly revenue is collected directly from patients, rather than insurance companies.

As these payment models shift, private practices are at more risk than other providers because of the nature of their work. Many medical specialties are looking for new payment solutions that will streamline the revenue cycle and make it easier to collect patient payments. 

When it comes to patient collections, that’s often the hardest part of the office visit for most physicians. Patient collections are even more challenging for small to medium specialty practices and those specializing in elective medical procedures.

The solution to the tricky business of patient collections that many of these types of medical practices tackle every day has been found in credit card on file payment systems. This technology makes it easy for practice staff to keep payment information on file to recall and process at a later date. Here we take a look at five medical specialties that benefit from using credit card on file.