Understanding the Vault Feature and Pre-Authorization Forms in Bridge™ Payments

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Introduction to the Vault feature

Efficiency and security in payment processing are vital to healthcare practices. The Vault feature in Bridge™ Payments by Rectangle Health is designed to securely store patient credit card information. This service streamlines payment processes and ensures that sensitive data is encrypted, safeguarding against fraud and mishandling. This feature is not just a secure payment tool; it’s a comprehensive solution to enhance the patient experience and the revenue cycle.

The Importance of Pre-Authorization Forms

To maximize the benefits of Vault, patients must complete a pre-authorization form. This form grants the practice permission to store the patient’s credit card information and charge it as needed, under agreed-upon conditions. By requiring this form, practices ensure transparency and build trust with patients, assuring them of the security and proper use of their payment information.

Navigating to the Pre-Authorization Form

Patients can access the pre-authorization form within the Bridge Payments platform:

  1. During Appointment Scheduling: Inform patients about the option to store a card on file to facilitate payments.
  2. At the Time of Payment: Prompt patients to complete the form whether they are making a payment over the phone or in person
  3. Via Patient Express: Send a form via email or text before or after the visit, allowing patients to complete it at their convenience.

A Success Story

The Vault feature has proven to be a game-changer for many practices. Donna Ramadan, VP of Revenue Cycle and Compliance at Great Lakes Dental Partners, shared their experience:

“We went from nearly zero credit cards on file to about 12% across our portfolio in about four months. [Text-to-Pay] has been a monumental movement forward in a pretty short period of time. And now we’re approaching 30%.”

This rapid acceptance highlights the significant impact Vault can have on streamlining payment processes and boosting revenue.

Key Benefits of Vault

Efficiency and Patient Care

Vault helps conserve time by making payment processes quick and easy. The PCI-compliant system reduces processing times, freeing up clinical staff to focus on patient care. The convenience of storing payment information on file minimizes wait times and enhances overall patient satisfaction.

Enhanced Security

Patient credit card details are encrypted and never accessible to staff once stored in the Vault. This powerful security framework ensures that patient data is protected, and in compliance with regulatory standards.

Increased Revenue

Vault streamlines patient payments, leading to faster collections and reduced accounts receivable. By having a card on file, practices can ensure that payments are made promptly, which is crucial in the high-deductible insurance environment.

Flexibility and Convenience

Vault offers multiple ways to store a card on file:

  • At the Time of Payment: Capture card information during a payment transaction, whether in-person or over the phone.
  • Directly in the Vault: Manually add a card to the Vault during patient interactions.
  • Using Patient Forms: Send pre-authorization forms to patients via email or text, allowing them to add their card information at their convenience.

Implementation Tips for Practices

Be Proactive

Encourage patients to store their cards on file at multiple touchpoints. Offer this option during appointment scheduling, at check-in, and during payment processing.

Emphasize Security

Provide patients with confidence in the security of their card information. Clarify that their data is encrypted and stored securely, with them maintaining control over its usage.

Highlight Convenience

Educate patients on the time-saving benefits of having their cards on file. Develop scripts for front desk staff to explain how this convenience translates to faster checkouts and less hassle.

Set Clear Expectations

Communicate clearly about the usage limits and conditions under which the stored card will be charged. Transparency in these details builds trust and encourages patient adoption.

Collect More Payments, Faster

The Vault feature in Bridge Payments offers a secure, efficient, and patient-friendly solution to modern payments in healthcare. By integrating Vault and the pre-authorization form into your practice’s workflow, you can enhance the patient experience, streamline payment processes, and significantly boost your revenue. For more information and support on utilizing Vault, tour the Bridge Payments suite of payment solutions and experience the benefits for yourself.

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