Learn how to pick a healthcare payment processing partner

To increase patient satisfaction, improve efficiency and strengthen cash flow for your practice, you need streamlined healthcare payment processing that interfaces with your existing systems. Inaccurate billing or outdated medical payment systems pull your attention from what matters most — your patients. Running your medical practice can mean walking a fine line. Your passion is for your patients, and complex payment solutions can be an administrative challenge you didn’t sign up for. 

Be familiar with the basics

Healthcare payments encompass everything from collecting co-pays at the point of service to the posting process after claims are adjudicated. In general, payment processors typically offer three pricing models: 

Flat-rate pricing*
Charges the same percentage for all transactions, which makes it simple to understand but potentially more expensive for high volume businesses. 

Interchange-plus pricing 
Separates the card network fees from the processor’s markup, which offers transparency and potentially lower costs for larger businesses. 

Tiered pricing*
Groups different card types into categories with different rates but can be confusing and potentially more expensive than the other options. 

Healthcare payments differ from standard retail transactions, because they involve:

• Multiple payers: Medical practices handle payments from patients as well as various insurers.
• Complex billing: The need for accuracy with medical billing codes and insurance claims can add layers of complexity.
• Patient responsibility: With a growing portion of healthcare costs falling to patients, efficient medical payment processing and collections are crucial.

Know what benefits you should look for

An interfacing payment system can help your practice with more than just running cards at the time of payment. It connects your medical payment processing directly to your practice management software and is the central nervous system for your clinic’s financial operations. With data flowing automatically between systems, you remove manual steps, reduce errors and gain clear visibility into your revenue cycle.

Payment systems that seamlessly interface with your existing platforms offer three clear benefits for your practice:

1. Streamline front-desk operations

Your front-desk team serves as the face of your medical business. A complete healthcare payments solution can eliminate daily headaches and help the day run more smoothly by allowing them to look up patient balances and process payments all within familiar workflows. 

For your practice, that could mean:

Faster check-ins: Collect co-pays and balances efficiently without switching between software – leading to a seamless patient experience.

Reduced manual entry: Errors are minimized when payments are posted directly to the patient ledger through the medical billing payment posting process.

Simplified reconciliation: Automated, centralized reporting brings clarity to your daily close, freeing staff to focus on what matters most.

2. Give patients more control

Today’s patients expect convenience, transparency and choice from their medical practice. Payment solutions that give patients various, secure and flexible ways to pay and communicate go a long way in ensuring patient satisfaction. Using digital intake forms, QR codes and text-to-pay help you tap into your patients’ desire for choice. 

Look for a payment processing partner that offers the following options:

Multiple payment methods: Securely accept all major credit/debit cards, HSA/FSA cards, and digital wallets – including Apple Pay® and Google Pay®.

Card-on-file: Safely store payment details to simplify post-visit charges and recurring payments.

Online bill pay: Enable patients to pay their bills through a secure patient portal anytime, on any device.

These modern solutions help your practice provide the kind of care and convenience patients expect.

3. Improve billing accuracy and cash flow

A predictable, steady cash flow is critical for medical business viability and growth. Inefficiencies or errors in the payments process can disrupt your entire revenue cycle. Look for a payments provider that offers automation to help eliminate confusion and costly mistakes from manual entry. Healthcare payment processing that directly interfaces with your PMS ensures payments are quickly and accurately applied to the right accounts. With fewer delays and administrative hold-ups, your practice can benefit from more reliable collections – giving you time to reinvest in quality care, leading technology or staff development.

Understand common pitfalls when choosing a payments partner

Know what traps to avoid before you get too far along in selecting your payments provider. Watch out for:

• Hidden fees and complex pricing structures
  Some payments partners have solutions that allow you to pay-as-you go, but beyond transaction fees you should also expect monthly fees, setup costs and potential compliance/regulatory fees. Outside of the expected costs of doing business, watch out for processors that advertise attractive headline rates but bury additional costs in the fine print. For new practices with unpredictable service volumes, a payments partner that offers payment optimization services can help cut down on interchange and credit card processing fees. For additional support, a partner with healthcare payments expertise can connect you with a dedicated healthcare team to tailor a solution for your volume and practice needs.

• Inadequate security and compliance
  Some processors offer bare-minimum security features and leave the compliance burden entirely on the practice. A data breach or compliance violation can result in massive fines and reputational damage that exceeds any savings from a cheaper processor. Healthcare payments involve sensitive patient data, so PCI DSS* compliance and HIPAA* considerations are non-negotiable. In addition to providing point-to-point encryption (P2PE), tokenization and help with compliance documentation, look for a payments partner that’s HITRUST certified.


• Poor integration and limited support
  A payment processor that doesn't integrate smoothly with your existing PMS creates workflow inefficiencies, data entry errors and reconciliation headaches. Limited customer support can make it worse when technical issues arise.

Choose your medical payments partner
Selecting a healthcare payment processing partner is an important decision for your medical practice. It’s vital to work with a provider that understands the needs of the healthcare industry, offers support you can access when you need it and ensures secure, compliant transactions.

Consider the total cost of ownership, ongoing support needs and availability of features you might need as your practice grows. Start with a reputable processor that can help you streamline payments between providers and patients and offers support with healthcare expertise – available on your terms. Then optimize your setup as your practice grows.

With the right payments partner you won’t have to become a medical payments expert. A trusted partner helps you simplify your workflow, reduce administrative burdens and focus on providing exceptional patient care – today and in the years ahead. Eliminate daily headaches and empower your practice to run more smoothly with Elavon Business Solutions for healthcare. See our plans to learn more.

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