Keeping Credit Cards On File Is The Only Option

If you've read this blog long enough, and you've heard me speak at conferences, you know I'm a huge proponent of practices implementing a credit card on file policy. If you don't know what I'm talking about, I'm referring to the practice of asking patients to leave a credit card on file (with the practice) to cover balances that the health insurance companies deem patient responsibility. Much like a car rental company or a hotel requires a … [Read more...]

Want to Learn How to Implement a Credit Card Program in Your Medical Office? Here’s How

One of the best decisions our practice has ever made, has been requiring parents to leave a credit card on file. We've done this since 2009 and it has really worked well for us. The most obvious advantage is that this policy reduces your practice’s account receivables. I also like the policy because it shifts the risk of not getting paid to another party, namely the credit card company – which is a far better entity to handle financial risk … [Read more...]

Want to Learn How to Implement a Credit Card Program in Your Medical Office? Here's How

One of the best decisions our practice has ever made, has been requiring parents to leave a credit card on file. We've done this since 2009 and it has really worked well for us. The most obvious advantage is that this policy reduces your practice’s account receivables. I also like the policy because it shifts the risk of not getting paid to another party, namely the credit card company – which is a far better entity to handle financial risk … [Read more...]

Does Your Medical Practice Have a Problem with Bad Debt? Here is a Solution

With the economic downturn that started last year thanks to the housing and consequently the financial market, it didn’t take a genius to figure out that medical practices were going to feel the pain. People were going to be losing their jobs/benefits, people were going to find ways to spend less on premiums, benefits diminished, and people were  going to put their medical bills at the bottom of the “to be paid” pile. Result? Bad debt was surely … [Read more...]