Healthcare bills are seldom cheap, and each patient is known to have a unique background and set of expectations that impacts their ability to pay on time – or at all. Once a patient leaves the practice, it is much harder for healthcare practitioners to collect any outstanding money. In order to reduce risk and keep cash flow healthy, healthcare practitioners should therefore ensure patients settle their accounts before they leave the practice or reach an agreement regarding payment terms.
Ryan Pearce, National Sales Manager at NuPay.
Healthcare practitioners are also wary of the shortfall that occurs when medical aid schemes only cover a portion from funds available, and depending on a patient’s benefit options, the practice would still need to ensure the funds are collected from the patient liable portion.
The best way to do this, is to make it as easy as possible for patients to pay, which is exactly what MedeMass and NuPay are offering with their alternative payment solutions. Collaboration between these two divisions of Altron has already resulted in two such solutions for medical practices.
The first is the MedeMass stand-alone, wireless credit card solution that allows patients to settle their accounts with their credit or debit card.
When patients cannot afford a single payment, the second solution comes into play: a payment plan using the AEDO (authenticated early debit order) system, which allows patients to authorise future debit order payments. NuPay, a division of Altron and leader within the secure electronic transaction market, specialises in payment and collection solutions.
AEDO improves collection rates and transactional tracking, resulting in reduced risk. Disputes are eliminated as all AEDO transactions are authenticated through an electronic mandate, and the system has the flexibility that a single instalment or multiple future-dated instalments can be loaded.
AEDO transactions are processed immediately after the banks have processed their credit run, and full transactional reporting and maintenance can be done online. Not only do healthcare practitioners get best of practice management software but can have multiple practices on one device.
Healthcare practitioners are also able to visit their patients offsite or at their homes and accept payments with the NuPayGO mobile card reader device.
These offerings truly enable healthcare practitioners to take control of their practice cashflow.