Making sure an ongoing flow of revenue is vital in today’s challenging healthcare environment. More and more providers are finding it increasingly difficult to get paid on time. Offering convenient payment methods is key to success in this area, and, therefore, choosing healthcare payment processing companies that can supply a payment device that enables collection of patient payments at key touchpoints during the patient encounter is vital.
Common Problems with Medical Payment Processing
Increasingly, more medical practices are struggling to receive post-care payment for treatment already rendered. And, with deductibles higher than ever before, keeping revenue coming in steadily is harder than ever. However, by offering your patients access to a payment portal online and/or an automated phone number, you will be able to begin accepting payments 24/7 through a new revenue stream that never stops working to collect payments.If payments from patients can be conveniently and efficiently collected post-care through the addition of multiple payment channels, medical practices will be able to significantly decrease the overall number of accounts with outstanding balances on their books.
Healthcare practitioners and staff in medical practices have more important things to do with their time than manually dealing with paper checks and sending out paper invoices. However, healthcare payment processing companies can offer cutting-edge advanced technology that eliminates these onerous tasks. By enabling patients to make a credit card payment at the point of service, both patients and practice staff can enjoy greater convenience.
How Can You Know That Your Payment Device Is Secure?
It is essential for healthcare providers to offer extremely secure payment devices and networks for their patients to use. By outsourcing card processing to a service provider that is PCI-DSS-compliant, such as BillingTree, which is trustworthy, and which has a clear understanding of payment compliance and security in the healthcare sector, it is possible for medical practices to have confidence that all data will remain completely safe and protected. P2PE (point-to-point encryption) will also make sure that all credit card information is secure.
What Is PCI Validation?
There are a number of differences between a regular P2PE solution and one that has been PCI-validated. Validated P2PE solutions have gone through the testing procedures and clear security requirements, which have been specified by the PCI Council, in order to ensure the solution is capable of meeting the key requirements that will make sure payment card details are adequately protected. The solution is fully assessed by a QSA (Qualified Security Assessor), with the assessment then being submitted for review to the PCI Council, which will then pass its approval.
Another key difference lies in the fact that any healthcare organization that leverages a P2PE solution that is PCI-validated will qualify for an SAQ P2PE self-assessment questionnaire.
A PCI-validated solution also allows the medical practice to expand its patient payment opportunities in complete confidence that all payment card data will be processed securely.
Choosing BillingTree’s Payment Solutions
BillingTree is a fully PCI-validated payment solution provider, offering a range of convenient portals that enable healthcare providers to accept payments at the point of service. This will eliminate the problem of chasing after nonpaying patients following their treatment and free up staff members to concentrate on the medical practice’s needs.
With a range of entirely secure payment solutions that are tailor-made to suit the needs of healthcare providers, BillingTree is one of the most reliable healthcare payment processing companies in the industry today.