In order to achieve successful therapy billing in 2021, providers need to accept credit card payments. More patients than ever are using their cards for everything. They pay all of their utilities, their groceries, their medical copays, and more using their credit cards. They want to pay for their mental health care with one too. While many providers might already accept credit card payments for therapy billing, they might not have the full scope of tools that can help them improve their revenue.
The Reality of Traditional Payments
Traditional therapy billing payment methods are now outdated. In the past, therapists might have accepted payment by check or payment-by-mail. In 2021, hardly anyone carries their checkbook with them, and payments by mail are extremely unreliable. The reality of traditional payments is that providers need to move on from them so that they can collect payments more easily and give their patients a convenient way to complete them.
Credit Cards and Therapy Billing
Credit cards for therapy billing can be so much more than just swiping a card at your front desk before the client leaves the office. With the right toolkit, you can help clients make payments at any time, from anywhere. With the best partner for therapy billing technology, therapists can access incredible benefits.
Benefits of Credit Card Processing:
Reduced Costs
Where many therapy billing credit card processors might charge fees for their services, others do not. With the right partner, your therapy practice can finally reduce costs associated with accepting credit cards versus more traditional methods of payments.
Fewer Errors
Errors in payment processing can end up costing a therapist, big time. These therapy billing errors might include a check that was not written out correctly, an extra zero where it does not belong, or an unbalanced book. With the right credit card processing technology, your practice can reduce payment errors, so you are always getting the right amount and staying organized.
More Client Payments
By giving clients what they want when it comes to therapy billing payments, you are going to receive more of them. Offering individuals an easy-to-use payment option that is both accessible and usable will prompt more of your clients to pay-in-full and on-time. This tool also enables faster payments by collecting electronically at the time of services or by pre-payment for telehealth sessions. Being in a profession that highly depends on the payments of their clients to sustain their bottom line, this is an incredible victory.
Cash-Flow Peace-of-Mind
Implementing a therapy billing credit card processing tool can help you get paid faster and more consistently, giving you cash-flow peace-of-mind. For small practices or single providers, consistency in
revenue is a great feeling that reduces stress. It then enables you to worry less about your revenue and offer more attention to your clients.
Features to Look for
Integration
Some providers use third-party therapy billing credit card processors to collect electronic payments. While this might be fine for some, it is definitely not the most effective way to collect client balances. Your credit card processing solution should integrate with the rest of your billing software.
You should be able to submit claims and process payments all within one software. Not only this, but your credit card processing tool should also be easily accessible from within your client management software. This enables you to do things like schedule a client for their next appointment and process their payment all at once. This will streamline your billing and payment process so that you do not have to jump from solution to solution and can complete everything in one simple step.
Secure Data Storage
Anything to make it easier for your clients to pay their balance is a useful therapy billing tool to have. Your credit card solution should also offer secure data storage for patient billing information. This will allow a provider to safely store credit card data in their system for the next time a client comes in and wants to pay their bill. Here, therapists can safely manage a client’s payment options so that the most up-to-date payment information is always on file for the next time.
Mental health clients want their therapists to offer a quality credit card processing solution. By choosing the right one, providers can simplify their payment processing, collect faster payments, and streamline their therapy billing workflow.
In order to achieve successful therapy billing in 2021, providers need to accept credit card payments. More patients than ever are using their cards for everything. They pay all of their utilities, their groceries, their medical copays, and more using their credit cards. They want to pay for their mental health care with one too. While many providers might already accept credit card payments for therapy billing, they might not have the full scope of tools that can help them improve their revenue.
The Reality of Traditional Payments
Traditional therapy billing payment methods are now outdated. In the past, therapists might have accepted payment by check or payment-by-mail. In 2021, hardly anyone carries their checkbook with them, and payments by mail are extremely unreliable. The reality of traditional payments is that providers need to move on from them so that they can collect payments more easily and give their patients a convenient way to complete them.
Credit Cards and Therapy Billing
Credit cards for therapy billing can be so much more than just swiping a card at your front desk before the client leaves the office. With the right toolkit, you can help clients make payments at any time, from anywhere. With the best partner for therapy billing technology, therapists can access incredible benefits.
Benefits of Credit Card Processing:
Reduced Costs
Where many therapy billing credit card processors might charge fees for their services, others do not. With the right partner, your therapy practice can finally reduce costs associated with accepting credit cards versus more traditional methods of payments.
Fewer Errors
Errors in payment processing can end up costing a therapist, big time. These therapy billing errors might include a check that was not written out correctly, an extra zero where it does not belong, or an unbalanced book. With the right credit card processing technology, your practice can reduce payment errors, so you are always getting the right amount and staying organized.
More Client Payments
By giving clients what they want when it comes to therapy billing payments, you are going to receive more of them. Offering individuals an easy-to-use payment option that is both accessible and usable will prompt more of your clients to pay-in-full and on-time. This tool also enables faster payments by collecting electronically at the time of services or by pre-payment for telehealth sessions. Being in a profession that highly depends on the payments of their clients to sustain their bottom line, this is an incredible victory.
Cash-Flow Peace-of-Mind
Implementing a therapy billing credit card processing tool can help you get paid faster and more consistently, giving you cash-flow peace-of-mind. For small practices or single providers, consistency in
revenue is a great feeling that reduces stress. It then enables you to worry less about your revenue and offer more attention to your clients.
Features to Look for
Integration
Some providers use third-party therapy billing credit card processors to collect electronic payments. While this might be fine for some, it is definitely not the most effective way to collect client balances. Your credit card processing solution should integrate with the rest of your billing software.
You should be able to submit claims and process payments all within one software. Not only this, but your credit card processing tool should also be easily accessible from within your client management software. This enables you to do things like schedule a client for their next appointment and process their payment all at once. This will streamline your billing and payment process so that you do not have to jump from solution to solution and can complete everything in one simple step.
Secure Data Storage
Anything to make it easier for your clients to pay their balance is a useful therapy billing tool to have. Your credit card solution should also offer secure data storage for patient billing information. This will allow a provider to safely store credit card data in their system for the next time a client comes in and wants to pay their bill. Here, therapists can safely manage a client’s payment options so that the most up-to-date payment information is always on file for the next time.
Mental health clients want their therapists to offer a quality credit card processing solution. By choosing the right one, providers can simplify their payment processing, collect faster payments, and streamline their therapy billing workflow.
To learn more about an EHR that can help you streamline and organize your practice management, click here.