decisionhealth Newsletters, Part B News - 2012 Issue 2 (February)
Achieve payment plan collections from third party credit card transactions
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Article Overview
This article discusses how medical practices can work with third-party credit card processing companies to automate patient payment plans and improve collections. It focuses on operational considerations, patient communication, billing transparency, and risk management for revenue cycle teams, practice managers, and billing staff.
Why This Topic Matters
The topic is relevant to practices looking for ways to streamline patient collections while reducing internal administrative burden and managing payment-processing risk. It also helps readers evaluate outsourced billing support and patient-facing payment workflows.
Article Sections
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Revenue cycle management
Introduces the collection challenge and the general idea of using an outside payment-processing partner to support patient balances. It frames the discussion in terms of cash flow and staff efficiency.
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Set it and forget it
Outlines the main operational considerations for adopting a third-party payment plan approach. The section addresses vendor selection, patient targeting, communication, and statement delivery at a high level.
What You Will Learn
- How third-party payment processing can fit into patient collections workflows
- What practice-level factors matter when selecting an outside payment partner
- How practices may introduce payment plan options to selected patients
- Why billing statement clarity matters in outsourced payment arrangements
- How outsourced payment support can affect staff workload and collection efforts
Who Should Read This
- Practice managers
- Billing staff
- Revenue cycle management professionals
- Healthcare administrators
- Medical office staff
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