I can remember the days of the $5.00 copay. Actually, I can remember a time when there was no such thing as a copay! Insurance companies paid claims. All of the claims, and patients had little to no financial responsibility to pay for their healthcare services. Furthermore, premiums were paid, in full, by the employer.
How times have changed. Healthcare providers can pretty much be guaranteed that most of their patients will have a significant cost sharing of their healthcare expenses. This leaves providers with a new challenge: patient collections.
We strongly recommend to all of our clients to set-up Credit Card on File (CCOF) Programs with their patients. CCOF allows providers to securely store and charge patient credit cards after insurance processes their healthcare claims.
Healthcare providers can also use services that pull from patient's checking accounts (ACH). ACH has many benefits. It is much less expensive than credit card vendor fees, and you can set-up automatic monthly draws, for payment plans.
Contact us for more information! We can help set-up systems that really work to increase patient collections.
