Flexible Fee Structures Improve Health, Medical & Wellness Billing
While technology has made life easier for the average small business owner, processing client payments in a timely and efficient manner remains an ongoing struggle for many healthcare providers. Unlike the typical retail transaction where payment is made upfront, dental patients, surgical patients, fitness members, and other health & wellness clients demand flexible fee structures that often include paying before, during, and after services are provided.
Ecommerce has turned the business of online billing, electronic funds transfer, and the payment of customer invoices into a highly efficient and cost-effective process. So, it’s small wonder that its role in healthcare is beginning to grow exponentially.
Many health service providers now turn to web-based solutions for payment plans, recurring billing, and secure account integration that can streamline their billing operations. And with research suggesting that nine out of ten consumers WANT to pay their healthcare bills online, isn’t it time your business did away with inefficient payment procedures?
The Benefits of Recurring Billing, Payment Plans, Tracking & Reports
Working with an online payment processing company lets you improve the quality of care you provide to your customers, by allowing your business to offer flexible payment terms and financing options. Not only does a fully integrated payment gateway make it easy to set up and manage multiple payment methods – like credit cards, debit cards, ACH direct payments, and e-checks – it also lets you conveniently import and monitor your billings and collections.
Making the most of flexible fee structures is where taking advantage of an advanced eCommerce solution like Beacon really pays off. Omni-channel payment processing platforms support a full complement of electronic payment environments, including EMV-compatible POS, Touchless Pay, and mobile payments. They also offer a 128-bit SSL internet connection, which means that your client transactions process quickly and efficiently.
Thanks to seamless integration with popular website technologies, online payments, recurring billings, payment subscriptions, and other flexible payment plans are not only possible, they’re highly manageable.
What to Look for in a Payment Processing Solution
Gateway-integrated payment processing means your business can customize options like billing frequency, and the number and amount of customer payments. Even more impressive, it makes it easy to track those payments, and to generate reports that provide detailed insight into client transactions.
For the greatest flexibility, look for a payment gateway product that allows your business to:
- facilitate electronic invoicing and client payment submissions via email,
- perform batch processing for large quantities of simultaneous transactions,
- link multiple merchant accounts to consolidate client billing and reports for multiple branch locations, and
- sync client payments, generate receipts, and view reports right inside accounting software programs like QuickBooks
The right billing solutions, coupled with the right solution provider, can reduce late payments, cut back on labor costs, and dramatically improve client relations and your company’s bottom line.