Setting up autopay for patients is a convenient and efficient method of collecting recurring payments for services provided.
Here are some steps that can help your office to set up autopay for patients:
Establish Autopay Policies: Determine the autopay policies for your practice, including which services are eligible for autopay, the frequency of payments (e.g., monthly, quarterly), and any required consent or authorization from patients. Ensure compliance with relevant laws and regulations, including data privacy and security measures. PMB strongly encourages setting up autopays for all patients.
Inform Patients: Clearly communicate the availability of autopay to your patients. This can be done through various channels, such as your practice's website, patient portal, appointment reminders, or in-person discussions during visits. Provide information about the benefits of autopay, including convenience, timely payments, and potential incentives (e.g., discounts for autopay enrollment).
Obtain Consent and Authorization: Create a process for obtaining patient consent and authorization for setting up an autopay account. This can be done through a consent form or electronically through your practice's patient portal. Ensure that the consent form includes details such as the patient's authorization for automatic deductions, the designated bank account or credit card information, the frequency of payments, and the cancellation process. PMB has these forms and will provide them to our clients at no additional cost.
Secure Payment Information: Implement strong security measures to protect patient payment information. Utilize encryption protocols, secure servers, and compliance with Payment Card Industry Data Security Standard (PCI DSS) requirements if you're storing credit card information. Alternatively, you can work with a trusted third-party payment processor that specializes in secure payment transactions. PMB works with a trusted third party payment processor to ensure PCI compliance.
Set up Autopay Systems: Depending on your practice's capabilities and preferences, there are different options for setting up autopay systems. You can integrate an electronic payment system into your practice management software, utilize a third-party payment processor, or work with a bank to facilitate automatic recurring payments. Choose a system that aligns with your practice's needs, ensures reliable transactions, and provides detailed reporting. PMB can set up autopay accounts for you within our system, or your office can also set them up.
Communicate Autopay Schedules and Charges: Clearly communicate the autopay schedule to patients, including the specific dates or intervals when payments will be deducted. Provide an itemized breakdown of charges, such as copayments, deductibles, or recurring fees, so patients understand what they are being charged for. PMB will also provide a Billing FAQ sheet to be given to all patients explaining the details of autopay for a particular practice at no additional cost.
Maintain Open Communication: Establish a process to address patient inquiries or concerns related to your specific autopay system. Designate a staff member who can assist patients with any issues, such as updating payment information, adjusting payment amounts, or cancelling an autopay. Ensure that patients feel supported and can easily reach out for assistance.
Monitor and Reconcile Payments: Regularly monitor and reconcile autopay transactions to ensure accurate and timely payment processing. Implement systems to track any failed or declined transactions and promptly follow up with patients to resolve payment issues. At PMB we monitor all Autopay payments and notify the patients when an autopay has declined.
Remember to comply with any applicable laws and regulations regarding autopay processes and maintain transparency with patients about their financial obligations. Regularly review and update your autopay policies and procedures as needed to ensure effectiveness and compliance. At PMB, we handle all of this for our healthcare providers so all they have to do is ensure the patient fills out, and signs, the form to authorize the autopay.
If you are looking for a medical billing company to help you maximize revenue from not only insurance companies, but also through patient payments, contact us at firstname.lastname@example.org or call 708-362-6080 ext 1001 for more information on the services we offer our providers!