Make it easy for clients to pay their bills and stop chasing down delinquent payments. The secret to getting paid on time is very simple.
Accept Every Form Of Payment. It really is that easy.
An increasing number of persons are choosing to pay directly for mental healthcare services. Since most people today do not carry cash or a check book it only makes sense to accept debit and credit card payments in your practice.
When you provide a convenient and immediate payment option, the upside is that your clients will pay for your services faster. Why turn away a client who has the desire and means to pay their bill immediately?
Cash Flow 101
Once considered a taboo, a growing number of psychologists are benefitting from immediate cash flow and eliminating the “check is in the mail” syndrome by simply accepting credit or debit cards.
Clients turn to you for help with life’s difficulties. However, it’s not your responsibility to extend credit to clients and that is exactly what happens every time an invoice goes unpaid. Let MasterCard and Visa manage your client’s credit line and worry about collections while you save your time and energy for your practice and helping your clients.
Communicate Payment Methods
Let your clients know up front how time is tracked, how fees are determined, and the types of payment and insurance providers you accept in your practice. Offer to keep client credit card numbers on file for automatic payment plans and past due balances. This allows you to focus on payment upfront and avoid an awkward conversation following a session with your client. Simply include a credit card authorization form in all new client paperwork and be sure to obtain your client’s signature in advance.
For payment after you provide mental health services, include a credit authorization with your paper billing statements. If you have a website, add a payment link online or consider sending electronic invoices via email. In both these instances all your client has to do is click a button to securely submit payment electronically.
Get paid on time in 2009 and reduce collections by accepting every form of payment and removing yourself from the role of creditor and collector. If you would like to learn more about accepting debit and credit cards in your practice, call 866.376.0950 or visit www.emdria.org/creditcards.