Payment Processing System

What to Look for In a Medical & Healthcare Payment Processing System

Whether it’s collecting copayments, deductibles, or coinsurance payments, a huge part of your clinic’s success is accepting payment from patients – and as quickly as possible, at that. Because any delay in payment represents inflation of your receivables and, in turn, a hit to your clinic’s cash flow – the lifeblood of every business. As a result, it’s imperative that you make the process of paying as easy and painless as possible for your patients. One of the best ways to do that is to ensure that you’re offering your patients the widest possible array of payment options – and that means electronic processing both in-clinic and from home. But it’s also important that you make payment handling as easy as possible for your staff to ensure minimized administrative burden, and new payment processing technology is making it easier than ever to do both. 

 

Utilizing a CRM Platform to Streamline Payments

One of the best ways to streamline the payment process for both your patients and your team is to employ a medical customer resource management platform that includes a billing and payments suite. A good CRM platform, like MedicalCRM, will not only provide your patients with a wide variety of payment options, it’ll also make the process of collecting and processing those payments easier for your front desk and administrative staff. With that in mind, if your clinic doesn’t already have a CRM, there are certain features you should look for to ensure that you gain the greatest possible benefit from the software you select. 

Easy Integration with Major Processors:

Your CRM should streamline your ability to accept electronic payments, and that means simple, easy integration with major processors right out of the box. MedicalCRM, for instance, integrates seamlessly with both Authorize.Net and the Paya network to enable you to easily accept all major credit cards as well as ACH payments like eChecks. 

A Variety of Payment Mediums:

Paying with a credit card in-clinic is an expectation, and a good CRM will enable you to hook up payment terminals or point-of-sale systems to give your patients that option. But going beyond that provides a lot of utility to your patients, who all have busy lives and are pressed for time. MedicalCRM enables you to accept electronic payments over the web, and even over the phone for patients who aren’t comfortable entering their details online. That means your patients can pay their bills right from the comfort of their own homes, ensuring you’ll have less need to chase after them over delinquent accounts. 

Improved Invoicing Systems

The key to getting paid faster is to ensure there are zero delays in your invoicing, and – a good CRM, like MedicalCRM, includes the tools to make that happen. MedicalCRM’s billing suite enables you to automate as much of the invoicing process as possible. It also enables you to schedule automatically recurring invoicing for patients that might need to settle their bills on a plan over time. 

 

MedicalCRM offers the complete set of payment processing features necessary to ensure your clinic is providing the convenience your patients demand and utilizing efficient billing and collection processes to ensure the healthiest possible finances. 


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