Chiropractic Patient Payment: Get Paid Faster, Easier, and Recurring
There has been a steady increase in government regulations and patient financial responsibility for the healthcare industry. This situation has led many practices to invest in technology to stay abreast with the new developments.
However, most of these practices are relying on multiple systems for functions such as billing and payments. Multiple systems are disparate and seldom function well together. Practices that use them have to incorporate additional manual steps to make these systems effective.
Processing patient payments manually because of the inefficiencies of multiple systems at your practice can be time-consuming. Human beings are also prone to errors, especially when stressed or tired.
A manual payment system in your practice is susceptible to numerous errors that can be costly. If you want something better, it’s time to move to an integrated payment system, like ChiroSpring.
Integrated Patient Payment System
Chiropractors can overcome the deficiencies of disparate systems through integration. This makes it possible to connect all your systems, so they can automatically share data when the need arises.
A successful integrated payment system captures, collects, and manages all the revenue data for the practice from a central control point. It creates a seamless experience for both you and your clients as you transact. A patient payment system with proper integrations enhances financial management through limiting/eliminating revenue cycle leakages.
How Integrated Systems Make Financial Management for the Practice Easier
Integrated patient payment systems improve the financial management of your firm’s resources in various ways.
1. Streamlining Claim Management
Let’s face it: not all employees are trustworthy. Some will pounce on the slightest opportunity to swindle a practice’s hard-earned revenue. The most popular way that they can do this is through falsifying claims records. They may exaggerate the claim amounts so they can skim the extra amount that the insurance firms advance to the firm. This exposes the practice to lawsuits and soils its reputation.
Having an integrated payment system automates the verification and filing of claims. It makes it harder for people to engage in claims fraud.
2. Easing Patient Collections
The system makes it possible for patients to remit their payments via online transactions. The convenience of making payments online is a motivation in itself to clients. They’ll be more obliged to settle their outstanding payments.
Integrated systems track and record every transaction. It’s easier to tell at a glance who owes the business what, so you can make follow-ups.
3. Automating Patient Statements and Billing
Improper billing is a big source of revenue leaks for many practices that rely on manual systems. An integrated system automates all the billing and sending of patient statements. When you rely on integrated patient payment, there isn’t a chance that a client will get a too-high bill or fail to get the bill at all.
Features of a Patient Payment System That Complements a Chiropractor’s Work
A patient payment system like ChiroSpring has additional features that complement a chiropractor’s work in addition to streamlining financial management.
1. The Ledger
The ledger tracks and records every transaction that takes place in the organization in real time. ChiroSpring’s integrated payment software has a ledger with a simple design interface. It enables managers to track transactions without straining to follow the inputs.
Clients appreciate convenience as one of the aspects that enhance their experience. The scheduling feature brings convenience to their fingertips and enables them to book appointments from their devices from any location.
Billing can be hectic, especially if you have a large client base. When you go the manual route, it takes time, and you are never sure of the accuracy of all the bills. The billing feature of ChiroSpring bills and sends patient statements to your clients automatically after they receive the service.
4. Insurance Cases
This feature gives you the ability to create insurance claims for your clients. You can also check and confirm the eligibility of clients for insurance claims with this tool. It helps identify and get rid of claims that could lead to disputes later.
Improve Your Bottom Line with an Integrated Patient Payment System
When you automate patient payments, your bottom line will improve shortly because the integrated system seals loopholes that can lead to revenue losses for the practice. You’ll no longer have to worry about fraudulent employees stealing from the business, revenue losses due to poor billing, and hesitation by clients to pay on time.
The payment system has other features that can improve the practice’s management holistically. As just one example, ChiroSpring makes it easier for patients to book an appointment via its online scheduling feature. You can cut costs and attract new clients with these optimizations.
ChiroSpring is an all-in-one practice management and EHR system built specifically for chiropractors to help them regain face-time with patients, spend less time on back-office tasks, maintain a limited staff, and save operational costs.
To see how ChiroSpring can help you simplify how you manage your practice, reach out to one of our specialists today!