If you’re a MD, Dentist, Chiropractor or any healthcare service, you know how difficult it can sometimes be to get paid on time. With so many potential payment issues that can come up, getting paid the full amount on time is not always a guarantee. Choosing the right payment solution will be critical if you want to reduce the number of payment disputes. Luckily, there are some strategies you can implement to enhance their payment experience.
In most cases, a lot of payment conflicts can be eliminated right away by letting your customers know exactly how much they need to pay upfront. Payment disputes can also be settled more quickly by using Biz-Pay’s platform. Let’s check out some ways on how you can improve your payment process for your practice.
Be Transparent About Your Pricing
Presenting your patients with the upfront costs associated with their visit work will go a long way in ensuring that your business is paid the full amount on time. As is the case in all healthcare service sectors, unexpected costs are usually not met with enthusiasm from your customers.
When a patient finds out they will need to pay more than they originally anticipated, they can’t help but feel misled. This frustration could lead to them paying late, or even worse—not paying at all. When this happens, many practices need to get the debt collection agencies involved to get their money. This process is ultimately a time-consuming and frustrating experience for your staff and your customers.
The best way to avoid this altogether is for practices to outline all the costs upfront—and be as transparent as possible—so that their patient isn’t surprised when they get the bill. By doing this, you will eliminate any potential conflict that could lead to your customer refusing to pay.
Offer Multiple Payment Options
Payment integration will be critical if you’re looking to provide your customers with as many options as possible. The integration allows your practice to accept online payments securely via debit and credit cards, and other popular digital payment methods. Furthermore, it enables you to offer an automatic payment plan to your patients if you choose to do so.
As with any business, your customers must have as many payment options as possible. Everyone has different payment preferences, with more and more preferring electronic payments as opposed to writing checks or paying in cash. With this in mind, it is important to have Biz-Pay in place that will allow you to accept payment with debit cards, credit cards, and ACH.
Offering all these different options will allow your customers greater flexibility in how they pay. Thankfully Biz-Pay provides a tailored payment processing solution for your practice that will offer your customers a variety of payment methods that they can choose to pay with.
Give Your Customers a Payment Plan Option
Medical bills can be pricey; however, they are usually worth the expense when you consider how important it is to have good health. Offering your customers the ability to make monthly payments on their bills can make it easier for them to pay the entire cost over time. With Biz-Pay’s automatic payment functionality, you can have a streamlined system that allows you to seamlessly collect your monthly payments. This ensures that you get the money you deserve for your services on-time while also making your customer happy knowing that they can break up the entire cost over a longer duration.
Offer Price Discounts on Early Payments That Are Made in Full
One great incentive you can offer your customers is a price for paying in full and a slightly higher price for paying in a few payments. By offering them more affordable options, they will be more likely to pay the entire amount upfront or pay the full amount over the course of a few pre-planned payments, which can help eliminate any potential payment disputes.
Not only does this help your practice get your payment in full, but it also helps your customers by breaking up a large bill into a few manageable payments. Such payments can be set up for auto-billing through Biz-Pay.
Work With a Payment Processing Company You Can Trust Like Biz-Pay
A lot of times, getting paid on time will come to implementing a payment processing platform that can meet the needs of your practice, and the financial capability of your patients. With so many customers refusing to pay on time for a variety of reasons, having the right payment infrastructure in place that can eliminate non-payment excuses and get ahead of any potential payment conflicts can work wonders for your business.
As we know, medical bills can be expensive, and this can lead to customers forgoing payment altogether. Thankfully, Biz-Pay can help alleviate many of these concerns and mitigate the risk of not receiving full payment but providing you with the right payment solution.
How Biz-Pay Can Help
Biz-Pay is one of the fastest growing payment processing providers in the country. Our payment processing services can be catered to your small business needs. At Biz-Pay we know that no one business is the same and we will work with you to find a custom solution that will work best for your practice and the customers you serve. Biz-Pay is equipped with the latest security technology that will ensure that all your customer’s transactions are safe and secure.
Our countertop and online payment solutions are scalable and can be adjusted to meet the needs of your business no matter what stage you’re at. With 24/7 US based customer support you can rely on, you will never need to worry about payment processing issues not being resolved. Our comprehensive terminal solutions allow you to accept EMV cards, Google Pay, Apple Pay, Android Pay, and many more types of contactless payment options. Implementing a mobile payments solution within your practice can bring your business up to date with the times.
With so many challenges when it comes to receiving payments on time in the medical industry, it is essential to have a powerful payment platform that can give your customers multiple convenient ways to make their payments. If you need a payment service provider that can adapt to your business needs, then look no further than Biz-Pay. Contact us today to see how we can help with all your payment processing needs for tomorrow.Apply now