One of the pain points in any business transaction is the issue of payments. Enterprises aim to make it as easy as possible for customers to pay them. A hasslefree payment experience improves customer satisfaction significantly. With the introduction of mobile wallets, retailers are hoping to streamline the checkout experience even further. Innovative payment solutions are set to revolutionize the retail landscape. But what about the dental industry?
Payment Solutions for Dental Clinics
The healthcare industry has not been quick to adopt modern IT systems. The vast majority of practices have adopted EHRs. But there are many areas of practice management that can benefit from integrated and comprehensive solutions. Processing payments is a good example. Dental professionals tend to focus more on treatments, procedures etc. that affect patient care. However you should keep in mind that non clinical aspects like scheduling appointments or paying will also influence how your patients perceive your practice.
Not all EHRs come with built-in payment processing solutions. This means that practices continue to rely on manual methods to bill their patients. An employee has to get the data on all treatments given to the client and create invoices manually. This process takes a lot of time which translates to more waiting for patients. On busy days there is a much higher probability of errors that lead to delays in payment. It also causes increased friction between your practice and your patients. If such errors are a constant feature of your billing methods, it is likely that at least a few of your clients will go elsewhere for their oral care needs.
Do Your Patients Find It Easy to Pay You?
You’ve gone to so much trouble to create a good experience for your patients. You’ve implemented EHRs and made it easy for patients to keep track of their health data. You offer multiple methods for creating and keeping appointments. You have friendly and attentive staff that are good at what they do. But all of this hard work can be ruined by a painful payment process.
The more difficult it is to pay, the higher the probability that you do not get paid at all. Do you offer multiple payment methods for your patients? Can you guarantee that bill are free from errors? Do your patients know when payment is expected and how long they have to settle their bills? Payment and billing issues can have a domino effect elsewhere in the practice. You’ll see higher outstanding amounts and unpaid invoices because of billing problems. This can impact the financial stability and long-term prospects of your practice.
The Ideal Payment Experience
If your EHR does not have a payment processing solution, you should look into standalone systems that can integrate with your existing EHR. Whichever method you choose, the ultimate goal is to create a hasslefree and seamless payment experience for your clients. Automating your billing process brings several benefits – for your practice and your patients.
One advantage is the ability to automatically create invoices from the EHR data. Your EHR already has information on the patient, the treatments and procedures you completed as well as demographic details. The payment module uses all this information to create the final invoice. Not only does this reduce the time but also the probability of errors. Another significant benefit is that you can offer a wider variety of payment methods. Why stick to only cash or credit?
As you can see, billing also plays a significant role in the overall experience you create for your patients. Streamlining this process will benefit your clinic in more ways than one!