Recurring payments, a convenient way to build your customer base!

A recent report revealed that there are errors in as many as 30-40 percent of all medical bills. That amounts to around $125 billion in lost profits for American medical practices around the country. When your practice bills in-house, it’s vital to correct these mistakes quickly.

Hospitals, dental offices, and everything in between put up with a lot of headaches. Medical professionals need to keep their focus on patient wellbeing. But how do you focus on patients when you have to set up recurring billing cycles, track down customer information, and all the other hassles that come with payment processing in healthcare?

Online shopping is amazing! It’s fast, convenient, and you immediately have all the information from the transaction as soon as you’re done. That makes us ask the question, “If retail stores and restaurants can do this, why not hospitals?” The answer comes down to the hardware and software that the latter two have, but hospitals lack POS and mPOS Systems.

Healthcare payment processing is a broken system. Whether you have a doctor’s office, hospital, dentist, or massage therapist, you know how difficult it can be to bill a patient through their insurance. The process can take months, and even then, you still might have to hunt down their information.

Payment Processing for hospitals is more complicated than you might think. Some questions that often come up are:

It often feels counterintuitive for financial institutions to write off bad debts. After all, a loan portfolio is an asset toward any financial institution’s future revenue. Also, if a financial institution is unable to practice debt collection effectively, how can other businesses follow suit? So, why do financial institutions write off bad debt? How can they find opportunities to recoup this lost revenue? Could data analytics be useful in helping organizations to work out which debtors are likely to make...

Running a successful healthcare provision requires a number of tasks to be efficiently accomplished. However, whether your organization is a small private practice with only a handful of staff members or a large multi location network of interlinked hospitals or clinics, there is no doubt that an effective healthcare revenue management system is the key to success.

Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) have become a popular and effective way for consumers to manager healthcare expenses. As a healthcare collection firm, you want to be able to accept FSA and HSA cards. This capability provides flexible options for the patient and increases collection activity for providers and their agencies.