Increase front desk revenue, step 2 of 5
Independent practice physicians care about two things when it comes to their practice: patient care and the financial health of their practices. Many physicians go into business for themselves because they want to be independent, and one of the biggest ways to ensure that your practice stays independent is the ability to maximize your revenue stream.
Your front office staff has a great opportunity to lock in revenue when scheduling appointments. Take advantage of the face-to-face time to quickly and efficiently boost your income potential. Here’s number two of five ways to increase your revenue when scheduling patient appointments at check-in or checkout.
Step #2 Establish a credit card on file/automatic payment system.
Patient check-in and checkout are a great time to add or update patient information. Use this valuable time to ask your patients if they would like to streamline the billing and payment process by using a credit card on file (CCOF) system. With the move toward higher deductibles, co-insurance, and co-pays, patients are becoming responsible for a larger portion of their medical bills. Having a patient’s credit card on file will allow you to process bills more efficiently and receive quicker payment. You will also save on the cost of sending out statements and the time your staff spends making follow-up calls due to of billing issues. By using a CCOF, your patients will have faster check-in and checkout and you will lock in cash flow by automating the payment process.
Having a patient’s credit card on file will allow you to process bills more efficiently and receive payment sooner.
