One of the questions I get asked the most about, is our credit card on file program. We started this policy back in 2009. And let me say it has been one of the best decisions we’ve ever made.
For starters, having credit cards on file enables us to focus more on health care than health care collections. It goes without saying that our A/R has improved tremendously.
We don’t have to send out multiple letters or make too many phone calls in order to get paid. If the account is delinquent, we process the card.
There are many more advantages. But fundamentally, a credit card on file puts the practice in a better position to collect 100% of what they are owed. It also transfers the credit risk to the credit card company. Which are far better at lending and collecting than we will ever be.
When we first started doing this, we didn’t know what we were doing. We just put together a policy that we thought worked best. There wasn’t anybody, that we knew of, that had done this so we had to basically create the wheel.
Fortunately, that is not the case anymore. Why? Because my friend +Mary Pat Whaley
has an awesome seminar that teaches you exactly what you need to do in order to set up a credit card of file program in your office.
Click on the link to find out how to sign up.