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The Benefits of Card on File

Do You Keep Patients’ Cards on File?

You Should, and Here’s Why.

In today’s world, healthcare practices are facing many challenges, such as rising costs, increasing patient demands, and growing competition. One way to alleviate some of these challenges is by implementing a card-on-file system for patient billing. A card-on-file system is when a patient’s credit or debit card information is securely stored in a practice’s electronic health record (EHR) system and can be automatically charged for medical services.

There are several benefits to implementing a card-on-file system for healthcare practices, including:

1. Reduced administrative costs:

With a card-on-file system, healthcare practices can reduce their administrative costs by eliminating the need for paper billing statements and manual payment processing. This system also allows for automatic payment processing, which reduces the need for staff to spend time processing payments manually.

2. Improved cash flow:

By implementing a card-on-file system, healthcare practices can improve their cash flow by ensuring that they are paid for their services in a timely manner. This system eliminates the need for patients to remember to pay their bills, reducing the likelihood of late payments or unpaid bills.

3. Increased patient convenience:

Patients appreciate the convenience of having their payment information on file, as it eliminates the need to remember to bring their payment information to each appointment. This system also reduces the time and effort required to pay bills, as patients can be automatically charged for services rendered.

Improve your practice performance with Digital Health Automation

Improve your practice performance with Digital Health Automation

4. Enhanced security:

Card-on-file systems offer enhanced security by reducing the risk of lost or stolen payment information. These systems use secure encryption and storage methods to protect patient payment information.

5. Improved patient satisfaction:

Patients appreciate the convenience and security of a card-on-file system, which can improve their overall satisfaction with the healthcare practice. This system also demonstrates that the practice values its patients’ time and makes efforts to make their experience as easy and convenient as possible.

In conclusion, a card-on-file system offers numerous benefits for healthcare practices. By reducing administrative costs, improving cash flow, increasing patient convenience, enhancing security, and improving patient satisfaction, healthcare practices can operate more efficiently and provide better patient care. With the use of modern technology, implementing a card-on-file system has become a straightforward and cost-effective solution that can benefit both healthcare practices and their patients.

About HiLitePay

HiLitePay  is a turn-key Patient Payment Platform. It accelerates self-pay revenue by implementing a repeatable process to communicate with patients through an automated  workflow. Once in place, HiLite Pay takes care of all patient outreach, payments, and live customer support. We know the hardest thing for collecting patient balances is communication, consistency, and errors. HiLitePay  automates patient responsibility communication through scheduled texts, email, and US mail communications, significantly reducing mistakes due to human error.

Starting with initial billing all the way through to collections HiLitePay keeps patients up to date and informed of their balances due. The unique part of HiLitePay  is that we can offer affordable financing solutions for patients who have trouble meeting their financial obligations. From initial billing through to posting payments into your PM, HiLitePay  will improve your collection rates, reduce over 90 A/R and provide a positive financial experience for your patients.