How to Handle Healthcare Payments in a Mobile World
Think back to the last time you swiped into that little smartphone sitting on your desk. It wasn’t that long ago was it? You might even be reading this from your phone or some other mobile device right now. The good news is, you’re not alone. A recent study from The Pew Research Center reports that 21% of Americans are online “almost constantly” and overall 73% go online at least once a day.
What you may not know is how this statistic greatly effects the healthcare industry and your medical practice. Mobile and online commerce is becoming the norm for consumers, and users have many on-the-go options for purchasing and making payments with their mobile devices. The number of consumers using smartphones to pay their bills is expected to rise to 57 million by 2016.
Adding to the dependency on mobile devices is the convenience of text message and email reminders for appointments ranging from salon services all the way to dentist appointments. Service providers such as utility companies and banks are now also offering the ability to send text message and email reminders when a bill is due.
This is where your practice could benefit and take advantage of a shifting consumer culture. Think of how quickly your practice could be getting paid if your patients had the option to pay their bills on their smart phone or tablet! Most industries, especially retail, have already shifted to mobile payments making it a huge opportunity for healthcare to jump in.
Using mobile and online bill pay in your practice also provides a more secure and efficient way for your patients to pay their bills. Pay by mail and by phone options of the past require your patients to either mail in a check, provide credit card information on mail-in forms, or give their information to one of your staff members over the phone to manually enter. Both options have a greater risk of fraud and can take up to 3 times longer for your practice to get paid.
Is it time for your practice to move to mobile payments? Faster, more secure, efficient, and easily accessible statements could be making their way to your patients’ mobile device right now. So what are you waiting for?