Collecting from customers in the medical and healthcare industry isn’t simple. Due to many laws that are in place, whatever system you use for collections needs to be extremely secure. Trying to reach out to each individual customer under these circumstances can prove to be time consuming and difficult. The only way to overcome these hurdles is by finding the right accounts receivable solution for your industry. Below are 4 of the most important features that should be included in an accounts receivable solution for the medical and healthcare industry.
One of the most important features of accounts receivable software for the medical and healthcare industry is ensuring that it is HIPPA Compliant. Your customer and patient information must be kept secure at all time, or else face hefty fines and ruined reputation. Even with your accounting software, you need to ensure that it has the ability to keep this information on lockdown.
Online Bill Pay
You need an easy way for customers and patients to access their account and pay online. Most people do not carry around checks or cash and many enjoy being able to pay from the comfort of their home. By simply sending an email link, customers can be given access to a secure payment portal where they can pay via ACH or credit card. Customers are more likely to pay and do it more quickly when they have this option available to them.
If you need to, for any reason, reach out to a customer or patient it is important to have all of their information on hand. In the medical and healthcare industry, it’s not enough to just collect on your accounts. Customers expect your office to be empathetic to their situation. Accounts receivable software for the medical and healthcare industry keeps all patient information in one screen, including past call notes and all emails so you can make your calls without any previous research.
You’re most likely dealing with more than just a handful of customers that you’re invoicing for your services. Sending out each individual email to every customer takes hours. With accounts receivable software for the medical and healthcare industry, emails can automatically be sent out to customers that are due for an invoice, past due notice, collection letter, or new patient welcome letter.
The medical and healthcare industry is tricky. There are specific compliances that you need to be aware of and patients expect a different type of service than in any other industry. In order to meet all those needs, you need an accounts receivable software that has features covering all of the bases. Take a look at Lockstep Collect and all the features available that are perfect for the medical and healthcare industry.