Recurring payments have become a societal norm with consumers expecting pay over-time options. These flexible payment agreements enable consumers, your patients, to feel financially heard and empower them to exercise healthcare because affordable payment options are made available. By getting patients to commit to making an initial, smaller payment, you will increase the likelihood of collecting in full. This is especially effective for larger medical bills, where the option for smaller payments increases the propensity-to-pay.

Awareness of recurring payment options like payment plans, memberships and installments should be promoted on your website, social media, and in-office to foster an environment of financial consideration and encourage patients to get the care they need rather than avoiding medical treatment due to cost.

Benefits of Recurring Payments:

• Increased collections and predictable revenue
• Terms set by your practice
• Patient satisfaction and loyalty
• More referral opportunities

Successful Tips for Getting a Yes:

• Be proactive and transparent with the amount the patient will owe post-insurance.
• Offer flexibility and affordability with a secured payment plan.
• Reassure patients their cards won’t be used for charges other than agreement.
• Educate on the security measures in place to prevent credit card fraud or mishandling with encryption.
• Encourage the office team to focus on patient care.