How to Cut Your Medical Practice’s A/R and Collection Costs in Just 60 Minutes.

A Manage My Practice Webinar:

Starting a Credit Card on File Program

in Your Practice

We know patients are bearing more of the financial burden for healthcare, particularly in the form of High Deductible Health Plans (HDHPs), so it falls to the provider to collect the deductibles. How can you collect deductibles, co-pays and co-insurance, as well as electronically manage patient payment plans while reducing the associated labor and resource expense? Register for the Manage My Practice webinar that teaches you everything you need to know to spend less and collect more at time of service by implementing a Credit Card on File Program in your practice.

Financial Concerns in a Medical Office

What is a Credit Card on File Program?

A Credit Card on File (CCOF) Program facilitates the collection of a credit or debit card from each patient and requires this card to be used for co-pays, co-insurance and deductibles. You have the option of collecting an estimate of what is due at time of service, and/or charging the credit card when the payer pays the claim.

What are the benefits of a Credit Card on File Program?

  • Reduced days in accounts receivable.
  • Improved cash flow.
  • Elimination of statements.
  • Electronic management of payment plans.
  • Elimination of bounced checks.
  • Elimination of the manual refund process and refund check expense.
  • Reduced labor in daily reconciliation process.
  • Elimination of cash drawers and change issues.
  • Reduction or elimination of deposits.
  • Facilitate faster check-in and check-out.
  • Elimination of paper receipts.
  • Elimination of collections expense.

This one-hour webcourse with accompanying materials is an incredible value at $59.95

What will I learn if I take this webinar?

1. Understand how a credit card on file program differs from traditional payment options offered by practices.
2. Learn the terminology and protocols of credit card processing – it’s not as mysterious as it seems!
3. Compare credit card processing fees and choose a vendor based on an informed analysis.
4. Utilize handouts to train staff and educate patients on the credit card on file program.
5. Successfully implement a credit card on file program.

What does the program include?

Purchase of this program for only $59.95 includes the live webinar, slide handouts, and a complete Action Pack of forms and templates in Word, including:
1. Worksheet for Credit Card on File Program Return on Investment (ROI)
2. Staff Script & Role Playing Suggestions for Staff Training
3. Sample Security Policy to Comply With PCI Guidelines
4. Credit Card on File Program Timeline Worksheet
5. Credit Card Program Comparison Worksheet
6. Patient Handout #1: Information About Our Credit Card on File Program & Discontinuation of Statements
7. Patient Handout #2: What is a Deductible and How Does It Affect Me?
8. Sample Patient Agreement for the Credit Card on File Program

The Webinar will be offered live at three different sessions for your convenience.

  • February 5, 2013 at 10:00 a.m. Eastern/ 9:00 a.m. Central/
    8:00 a.m. Mountain/ 7:00 a.m. Pacific – Click here to register!
  • February 6, 2013 at 1:00 p.m. Eastern/ 12N Central/ 11:00
    a.m. Mountain/ 10:00 a.m. Pacific – Click here to register!
  • February 7, 2013 at 4:00 p.m. Eastern/ 3:00 p.m. Central/ 2:00 p.m. Mountain/ 1:00 a.m. Pacific – Click here to register!

Posted in: 12 Ways to Supercharge Your Practice, Collections, Billing & Coding, Day-to-Day Operations, Finance

Leave a Comment (8) ↓

8 Comments

  1. Marta Kirsch January 28, 2013

    I noticed on a recent article , your financial policy shows you charge a $3.00 for Medicaid patients. I thought this was against the law? Can you tell me how you are able to do this or suggest it?

    Thanks

  2. Mary Pat Whaley January 31, 2013

    Hi Marta,

    Every state has an unique Medicaid plan and in most states, covered services have an associated co-pay. The $3 co-pay is what NC (where I live) requires. The co-pay is mandated by the program, although not all practices collect it.

    Great question!

    Best wishes,

    Mary Pat

  3. Trish February 8, 2013

    Mary

    I missed this signup for the webinar, wondering if you are considering doing again?

  4. Mary Pat Whaley February 11, 2013

    Hi Trish,

    Yes, we are doing another webinar the first Tuesday in March, 3/5 at 1:00 p.m. Eastern, and will be sending out the link to register shortly.

    Thanks for asking!

    Best wishes,

    Mary Pat

  5. Christie March 14, 2013

    Hi. We were all ill during last webinar for credit card storing. Will you have another? Thanks.

  6. Mary Pat Whaley March 14, 2013

    Hi Christie,

    Our next webinar for Credit Card on File will be Tuesday, April 2 at 1:00 p.m. Eastern.

    Thanks very much for your interest.

    Best wishes,

    Mary Pat

  7. Josh March 14, 2014

    Is this webinar recording and its products available for purchase?

  8. Abraham Whaley March 14, 2014

    Hi Josh –

    They sure are! You can purchase the recording on DVD at this link:

    http://managemypractice.com/product/how-to-develop-a-credit-card-on-file-program-in-your-medical-or-dental-practice-on-dvd/

    Thanks for reading!

    -Abe

Leave a Comment