Health care payment processing for medical services are handled in a dismally ineffective way by the majority of medical care providers. Physicians and hospitals are collecting only 50% health care payments from insured patients. For the uninsured, the portion of patient payments drops to a shocking 10-20%.
Considering the ways in which payment processing accounts are handled, it’s no wonder that health care providers are being placed in dire financial straits. And the problem will only get worse in the coming years as more patients are opting for higher deductions to be able to afford coverage.
The easiest and fastest way to increase cash flow is get payments from patients before the services are rendered, rather than waiting until after the services are delivered. At the time of service, patients sign a one page form authorizing automatic payments via credit cards, debit cards or direct debits from bank accounts.
If a patient cannot afford to pay the entire amount due, a recurring payment plan is set up which fits the budget of the patient. Scheduled payments are preauthorized by the patient and recurring payments are automatically made.
For more information on recurring billing and payment processing for patient collections, contact paynetsecure.net