COLLECTIONS: Step Up Your Collection Efforts With Credit Cards

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Note:  The following article synopsis was NOT provided by AAPC. It was created by Find-A-Code/innoviHealth.

Article Overview

This article explains how offering credit card payment options can affect healthcare practice collections, cash flow, and accounts receivable management. It also covers the need to review merchant agreements, watch for fees and contractual limitations, protect patient payment data, and consider applicable privacy and identity-theft related standards. The piece is aimed at practice managers, billing staff, and others involved in patient financial operations.

Why This Topic Matters

Patient payment collection is a major part of practice revenue management, and payment convenience can influence whether balances are collected promptly. The article is relevant because it highlights both the operational benefits and the compliance issues that can arise when practices accept cards.

Article Sections

  1. Examine the Benefits

    Discusses operational reasons a practice may consider adding card-based payment options and the kinds of collection-related improvements that may result.

  2. Know What You're Signing

    Reviews the importance of understanding merchant agreement terms, related fees, and contractual considerations before enrolling with a credit card company.

  3. Protect the data

    Covers general precautions for safeguarding payment information and validating card transactions in a healthcare billing environment.

What You Will Learn

  • How credit card acceptance can affect collections and cash flow in a medical practice
  • What to review before entering a merchant services agreement
  • Why patient payment data protection matters in billing workflows
  • Which compliance and privacy considerations are relevant to card transactions in healthcare

Who Should Read This

  • Practice managers
  • Medical billing staff
  • Revenue cycle staff
  • Healthcare office administrators

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