- Set up a money transfer service. If the ability to accept payments electronically is all a practice needs, the easiest solution is to set up an account with a third-party credit card or merchant account service such as PayPal. Most are capable of accepting payments from debit or credit card as well as a direct transfer from a checking account.
- Use electronic commerce and payment processing software. Several third-party electronic commerce software vendors with credit card processing capabilities can be integrated into a website. Some offer tools to build an entire website with an e-commerce component that has search engine optimization tools, while others offer the tools to build a payment processing service on an existing site.
- Use an integrated billing system. Payment systems that are integrated with existing technology provide patients with more information regarding their accounts and provide better recordkeeping for the practice, said Sunni Patterson, partner at RMK Holdings, a medical coding and billing services company based in Chicago. “Online payment systems can also help practices identify and evaluate their patient process, staffing ratios, charge to payment turnaround time, documentation, workflow channels, payment trends, financial forecasts and other factors pertinent to the growth and maintenance of their practice,” she said.
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