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Medical Payment Processing

Medical Payment Processing

Balancing the daily business of medicine with the demands of patient care is challenging for solo-practitioners and large primary care practices. The continuous rise of patient responsibility for reimbursement adds complications to an already strained revenue cycle.

Some primary care providers can be caught in a situation where they are dependent on deductible payments for reimbursement. When a patient is experiencing illness, often their first line of treatment is with their primary care physician. So-called ‘sick’ visits may go toward deductible amounts – especially at the beginning of the year. In fact, deductibles accounted for almost half of all cost-sharing payments in 2016.

Healthcare spending can quickly add up, even when patients have insurance coverage. Some statistics that affect primary care providers:

  • A family of four with insurance can pay between $2,900 – $6,800 in out-of-pocket expenses per year

  • Health spending on visits that diagnose signs and symptoms (‘sick’ visits) averages $788 per capita in the US

  • About 57% of Americans don’t have enough money to cover a $500 unexpected expense

  • Office visits for uninsured patients can range from $100 – $200+, even with a time-of-service discount

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Benefits

Private practices, whether stand-alone sole practitioners or multi-location groups, need efficient medical merchant account systems that boost income, control accounts receivable (A/R) and require minimal administrative labor.

Rectangle Health provides an efficient system that can make a profound impact on your payment collection rates. How do we do it? Our proprietary system integrates with any practice management software, which dramatically reduces medical payment processing labor and boosts patient payments.

Practice Management Bridge

Practice Management Bridge® from Rectangle Health is the best solution for primary care providers of all sizes. Our medical merchant account system has the flexibility your office needs to encourage patient payments and keep patient A/R low. We all lead busy lives, so convenience is a key factor to encourage payment. Our credit-card-on-file feature makes it easy to pay at time-of-service, over the phone or online. Email reminders keep balances owed to providers top-of-mind, and our text-to-pay option boosts collections because patients can pay from their phone while on-the-go. Additionally, our statement integrations allow patients to view, print and pay bills from a patient portal.

Healthcare administrative office staff benefits from Practice Management Bridge® as well. Our integrated systems make payment processing for doctors seamless and easy to reconcile.

Plus, Practice Management Bridge® virtually eliminates the risk of stolen payment information. We fully protect patient cardholder data in PCI-compliant storage that is not stored on your system. Although convenience goes a long way to control patient accounts receivable, there are other ways practices can encourage payments and keep cash flow steady.

Some Strategies Include:

“We are an extremely busy optometric practice, and we are always very conscious of business costs.  We use a practice management software and couldn’t believe we could start updating payment directly into the patient ledger and securely keep patients credit card information on file.”

-Optometry Group, Bay Area

“We’re writing to show our appreciation for Rectangle Health.  Initially, I doubted some of the features that were promised, but you guys delivered.  The web payments and payment plans are easy. The ease of email receipts and vaulting cards are great for our Billing Department.  I would recommend any colleagues use your system without reservation.”

-OB/GYN Office, Grapevine Texas

“We have been very satisfied with the degree of customer service and professionalism we have received in the process of switching from our previous processing company to Rectangle Health.”

-Practice Manager, ENT & Audiology, Southlake Texas

“I had been told by many companies that they could integrate into our software, but once they came out and met with me, I could see they really could not do what they said…. Rectangle Health could not only seamlessly integrate with my software as they stated, but they could offer substantial savings each month.”

-Dental Office Manager, Southlake Texas

“We have been a Rectangle Health client for over 3 years now and we’re pleased to say they lived up to their word; from saving us hundreds of dollars in overall monthly fees to even going so far as to customize their online Practice Management Bridge for a special feature we requested.”

-Retina Consultant, Connecticut

“I would like to compliment Rectangle Health.  The customer service has been top notch and your representative is always quick to return our calls.  The payment software is great and has made collecting form our patients so easy.  We would recommend any medical practice to use Rectangle Health!”

-Chiropractic & Acupuncture, Denver, Colorado

“Since we started to use the program, we have had an immediate and noticeable improvement in patient payment at the time of treatment.  Transitioning to Practice Management Bridge has alleviated hours of extraneous work that was unavoidable with our previous retail terminal.  In addition to the invaluable improvements in our practice management, Rectangle Health has saved us money by lowering our processing rate.”

-Office Manager, Cosmetic Dentistry, Solana Beach, California

Learn more about the Rectangle Guarantee.

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