July 1, 2015
Most health care practices have financial policies in place that require payment by cash, check or major credit card for out-of-pocket costs. However, in today’s economic environment, patients appreciate and have come to expect additional options from health care providers in the management of the cost of care. The addition of a patient financing program to a practice’s financial policy can help to ease these cost concerns.
Choosing the right patient financing program and adding it to a financial policy can be an effective way to help increase treatment acceptance, reduce time in accounts receivable and improve cash flow. Here are important considerations to use in the evaluation of patient financing programs.