Do you want to outsource your medical billing? Whether yes or no, read on for important payment options generated from outpatient procedures. If you’re anesthesiology company, lab, hospital, surgeon, MRI company, or consulting doctor, you’re all in the same fix. How do you collect the patient responsibility bills?
Credit and debit cards are the preferred method of payment in the US today, far surpassing checks. Included in this is the increasing use of HSA cards.
Let’s examine a very real payment process used by medical related companies, picking up from the point where the customer receives an invoice in the mail outlining their patient responsibility.
Customer has invoice. Which of these do you offer?
- Tear off the form and mail in with check or credit card information. Should I ask for the security code on the mail order form? (No).
- Call to make a payment over the phone.
- Pay online.
THE MAIL METHOD: Are staff keypunching the card data into a desktop terminal or a computer terminal? Your computer can be a virtual terminal simply by logging in to a secure web page. Some think this is more risk with this, however, there is actually less risk.
- Access is administration controlled and remotely managed on demand. This eliminates risk associated with wrongful use by cleaning personnel, repair crews and unauthorized employees, plus you can instantly remove, restrict, or expand credit card processing access.
- Instant reports based on trigger alerts you set can be transmitted via email to multiple personnel.
- Same as for Mail EXCEPT, there is no need to ever enter a transaction on paper. Why do employees write transactions on paper?
- The machine isn’t near them.
- They agree to let customers make multiple payments.
- The person answering the phone doesn’t do the processing.
How does our hosted payment processing solution, CenPOS, differ?
- More flexibility to assign payments with deeper information such as the physician involved in the procedure.
- Real time reports on demand by location, cashier, card type, and many other elements provide quick access to risk insight as well as reconciliation data.
- Integrated system for billing vendor and internal staff payments so both parties can have real time access to patient payment history.
- Securely store encrypted card data on PCI compliant servers to process a one time payment and scheduled installment payments of a different amount.
Item one is offered by everyone. Are you mailing to a lockbox or billing office? If you are not using a lockbox and are requesting the 3 digit security code, you’ve elevated your internal fraud risk considerably.
If you outsource, the amount of time your supplier spend on processes directly affects your costs. How is the supplier performing these functions for you now? You’re the customer, you can request whatever you want.
See also, our youtube virtual terminal video demo.