MasterCard & the Healthcare Industry

Avoid the complications of late payments.

Most medical practitioners prefer payment when services are rendered, instead of waiting for checks to clear and following up with statements and phone calls. In cases when a patient visit comes after your billing cycle, payment may be delayed for almost two months.

Processing a credit/debit card payment can ensure prompt payment and is less costly than collection, repeat invoicing, and returned check fees.

Strategies for Timely Payment

State payment policies clearly. Patients who are preoccupied with the reason for their visit may find it difficult to absorb or remember a discussion about payment. You may wish to include payment policies on invoices, in-office signage, and new patient medical history forms. You can also send advance notice before a patient’s first scheduled visit.
Adhere to a strict payment policy. Set your fee schedule and acceptable payment arrangements, but make sure your policies are in sync with patient needs. Ask patients to inform you of anticipated payment difficulties in advance.
Specify payment options. Inform patients of available payment options, including insurance reimbursement policies—such as who is responsible for submitting claims—and any accommodations you are willing to make.
Train your staff. Ensure that your office staff is completely familiar with office payment policies. Encourage staff to ask for payment with confidence, professionalism and conviction—but always with respect.
Review policies every six months. Make sure your policies are effective, by monitoring improvements in cash flow and paperwork manageability.