Currently, some of the toughest challenges in the healthcare industry include increasing compliance burdens, significant operating costs, declining reimbursements and complicated patient collections. Healthcare providers struggle with running a successful practice without overburdening themselves and their staff — while striving to dedicate adequate time to provide personalized patient care.
Providers need solutions to help keep their practices on track by improving payment assurance, patient satisfaction and practice efficiency. Payment processing with TransFirst® can help providers meet their most critical needs.
Easy and secure patient payment processing offers many benefits for both practices and patients. TransFirst’s healthcare payment experts take a consultative approach to deliver customizable and comprehensive payment solutions to meet an organization’s unique needs. We can help you streamline payment collections with multiple payment options for accepting major credit and debit cards and health savings account (HSA) payment cards and for electronic check processing.
Providing convenient ways for patients to make payments online or establishing recurring billing may increase your cash flow. By managing your payment processing options you may get paid faster. Consider maximizing revenues by collecting payments at multiple points of service and post service. It can help you increase collections, reduce bad debt and improve your payment assurance.
Patient satisfaction often improves when you take the hassle out of paying bills by offering some flexibility to how and when they pay. Emailed statements and reminders along with recurring and scheduled payments are alternatives to consider when developing personalized payment plans that work with your patients’ individual financial circumstances.
Although insurance payors can make up a large portion of monthly receivables, patients are sometimes the top source of collections on a monthly basis. Therefore while proper billing of primary and secondary parties is always critical to a practice’s financial well-being, collecting payments at the time of service may also improve financial results for healthcare practices.
Small organizations may struggle with billing in-house and choose to shift billing outside of the practice. Identifying and implementing new procedures and processes to improve cash flow are beneficial to any practice regardless of whether billing is done in-house or by an outside agency.
Speak to a TransFirst representative to discuss our many innovative payment options that may include integrating Transaction Express® payment gateway into your existing point-of-sale system, software or website with TransFirst’s Integrations Department. Let us help you discover ways you might improve your practice’s efficiency and bottom-line so you can spend more time on what matters most — caring for your patients.