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    • 13
      Oct
    • (0)
    • By Pete Crutchley


    • Medical Billing News

    TAKING CARD PAYMENTS OVER THE PHONE – yes or no?

     

    cheque-book-007

     

    Banks are desperate to phase out cheques.

    This is due to the cost of processing a cheque from the bank’s point of view.

    Yet the decision was taken not to, as planned, phase out cheques completely by 2018.

    It just is not going to happen. Cheques it would appear are here to stay.

    But still, a number of consultants are reluctant to accept debit/credit cards.

    Card Payments

    Many MHM clients have endured problems with obtaining payment from self-funders and/or payment in respect of shortfalls and excess payments.

    Even when a cheque has arrived, it must still be taken to a bank and paid in. And that is precisely why MHM has always advocated that a consultant must be able to take payment over the telephone.

    In certain cases, dependant on the size of the practice, they should also be able to take payments online.

    The Cost Factor

    Yet this presents a dilemma for the consultant who believes rightly or wrongly that he/she cannot afford to accept payments over the telephone.

    To MHM this is a false economy because frankly, we’d rather meet the cost of processing a debit or credit card payment ourselves than the client not get paid at all.

    That is precisely what we did.

    And it’s why MHM clients have a low number of outstanding self-funding patients and a low number of outstanding shortfall/excess amounts.

    Refusing to get paid

    Just imagine the situation when the patient calls and offers to pay the account only to be told the consultant can only accept a cheque or a BACS payment?

    In this scenario we are, at that precise point, actually refusing the offer of payment from a patient.

    That cannot be a sensible approach for private medical practice, as a business, to take.

    If the private practice is a business (of course it is) then it must conduct its business in an efficient manner.

    To do otherwise leads to inefficiency and thereby a reduction of maximum profit available. As long as the payment methods are not to the detriment of the patient.

    We once infamously advised a potential client, we were NOT prepared to charge the patient an extra 5% if paying by card.

    The answer to the question is a resounding yes!

    Cheque Book

    Indeed, whilst writing this blog I looked at my own cheque book. I’ve written out ONE cheque since October 22nd, 2014. All payments made by MHM have been by BACS, standing order or debit card.

    Yet I must have processed hundreds of debit card and credit card payments over the telephone on behalf of MHM clients in respect of self-funding invoices and/or shortfalls and excess amounts.

    Do you need to take card payments over the telephone?

    YES, YOU DO!

    Well, we do for our clients anyway!

    pete@medicalhealthcaremanagement.co.uk

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