There are many ways digital payment processing tools can make your practice’s payment collection methods more efficient. Expedite payments during pre- and post-care By providing this more efficient option to patients, your practice can appeal to your current patients’ preferences and keep both patients and staff members safer during and after the pandemic. Patients can simply tap and go for a one-step payment transaction. Contactless payments safeguard both patients and staff members by minimizing contact between both parties and physical machines.Ĭontactless payment methods enable patients to tap their card or mobile device against the card reader to make a payment. Today’s consumers embrace contactless payment solutions as ways to maximize safety and minimize frustration associated with excess paper. Here are 5 ways for your practice to realize the rewards of going digital: 1. Adopting contemporary digital payment methodologies is easier than you may think, and the benefits include both efficiencies for the patient and the staff. According to a study conducted by CWH Advisors, “Younger consumers indicate a willingness to trust emerging fintech, payment, wellness, and other brands.” These new payment offerings appeal to many consumers, but many healthcare providers are hesitant to make the digital transition because of competing priorities at the practice.ĬWH Advisors’ study finds that “providers don’t share the consumer’s enthusiasm” about new digital payment systems. Manual payment methods often cause payment delays and frustration for patients who want to understand their financial responsibilities and take care of their balances in a more efficient way.Īlthough many consumers are ready for digital payment options, providers are not necessarily on board. Many patients now expect their healthcare providers to offer digital payment options in lieu of traditional, paper-based options that now could feel like a step back. While many patients are returning to in-office visits, they have embraced the digital payment platforms that became mainstream during the pandemic. Rest assured, there is a feasible solution that links practice efficiency and patient experience. While patient retention is always a priority, you also have to consider control over your current administrative protocols. According to the recent study produced by PYMNTS and Rectangle Health, “35% of bridge millennials and other younger patients are willing to switch healthcare providers to find better digital healthcare management tools.” You may wonder how your practice can stop this shift. We can almost hear your exasperated sigh when you realize your younger patients may be switching to providers that offer digital payment solutions. Connecting patient satisfaction with digital patient paymentsĪs a healthcare provider, are you losing patients to other competing providers? Are you struggling with how to embrace new digital consumer payment platforms without disrupting your office protocols?
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