Are Payment Plans the Key to Persuading Patients to Complete Their Treatments?

For any medical practice, providing the very best treatment for patients is always the top priority. However, all too often, practices find patients often fail to complete their courses of treatment. This is never in the best interest of the patient. If a doctor gives a patient a course of treatment to follow, it’s because he or she believes it’s necessary. When patients cut their treatments short, they risk a relapse or a worsening problem. However, there is an effective way to ensure patients complete their required programs of treatment. This is to adopt a healthcare payment processing system that enables a person to put a payment plan in place. When a patient is actively paying toward a course of treatment, he or she is more likely to complete it. This has been the case in the past.

How Does It Work?

Let’s assume a patient requires treatments on a monthly or weekly basis for an injury or ailment. There are two ways to deal with this. Either the practice will bill the patient after every single treatment, or the patient can set up a payment plan. If the practice bills the patient per treatment, there’s a strong chance the patient will stop attending after a while. As soon as the patient feels better, he or she will refuse to attend further appointments. This is usually to save money. A patient will choose to ignore his or her doctor. This will happen even if he or she has not yet finished the treatment. On the other hand, if he or she can establish a payment plan, the patient will continue to attend.

The Power of Payment Plans

It’s been proven that when someone subscribes to any service, he or she continues to let it run. It doesn’t matter whether that subscription is to a magazine or a TV channel. Once a subscriber has added a credit card to his or her account, ongoing billing becomes the norm. Users barely give a second thought to the payment the service takes from their cards.

Let’s look at one scenario. A service gives a user a monthly bill or a bill each time he or she uses it. What happens? The subscriber would soon stop using the service. The more of a hassle something is, the sooner we stop doing it.

If a patient is already set up to pay for his or her treatment, he or she will attend. When a patient needs to handle his or her invoice and pay a bill for every treatment, the patient won’t. In this case, patients will stop their treatments much sooner than they should.

Activating A Payment Plan

It isn’t difficult to activate a patient payment plan if you have the right healthcare payment processing solution. Once you’re aware of the course of treatment the patient needs, it’s possible to estimate the cost of each treatment. Then, you can use the payment processing solution to establish a payment plan. This will automatically elicit a payment at regular determined intervals. And, it will continue until the doctor says the treatment plan has finished. This works well for the practice since it will receive regular payments for any treatment it provides. It also works well for patients. They can have the peace of mind knowing they don’t need to think about payments. They can also receive all the treatment they need to get better without putting themselves at risk.

BillingTree’s Solutions

BillingTree designed its healthcare payment processing solutions to specifically meet the needs of the healthcare industry. With many payment options to suit the needs of all kinds of medical practitioners, a practice an increase its revenue. Offering patients the option to pay with a payment plan, BillingTree’s payment processing technology streamlines collections.