The most obvious advantage is that this policy reduces your practice’s account receivables.
I also like the policy because it shifts the risk of not getting paid to another party, namely the credit card company – which is a far better entity to handle financial risk than a medical practice.
The list of advantages of implementing a program like this is quite long. Yet many medical offices are still reluctant to implement this policy.
I understand why many are hesitant and apprehensive. It is not a simple task. And the implication of a poorly executed implementation can have significant consequences.
For those practices that are on the “not-so-sure-boat” I have good news.
My friend Mary Pat Whaley from ManageMyPractice.com will be conducting a seminar titled “Starting a Credit Card on File Program in Your Practice” that I think will help your practice implement a credit card policy. The topics look to be very promising.
The program will include the following topics:
- Worksheet for Credit Card on File Program Return on Investment (ROI)
- Staff Script & Role Playing Suggestions for Staff Training
- Sample Security Policy to Comply With PCI Guidelines
- Credit Card on File Program Timeline Worksheet
- Credit Card Program Comparison Worksheet
- Patient Handout #1: Information About Our Credit
- Card on File Program & Discontinuation of Statements
- Patient Handout #2: What is a Deductible and How Does It Affect Me?
- Sample Patient Agreement for the Credit Card on File Program
Even though we already have a credit card program in place, I plan on attending this seminar. I think there is something I can learn to improve our program.
I’m also a fan of Mary Pat. She is incredibility knowledgeable. I also appreciate her work because she always goes the extra mile. How so? Well not only does she tell you what you need to do and why, she also gives you samples, scripts, training tips, templates and all kinds of resources you need to implement what she is teaching on.
Considering how much money your practice will collect using this policy, this program should cost at least $2000. And at that price, it would be a bargain. Pay $2000 to learn how to collect $100,000s seem like a good investment.
But because Mary Pat and her team at ManageMyPractice.com is so awesome, she is giving PediatricInc.com readers a $1,940.05 discount.
So you will only have to pay $59.59 for this webinar.
Editorial Note: I made up the $1940.05 discount thing, but everything else I believe to be true.
To learn the times and how to sign up, click on the link below.