Choosing an accessible and secure payment processing platform is step one in building client trust. When launching a private practice, a clinician might consider taking that accessibility a step further with multiple payment options.

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The traditional practice of patients receiving a doctor’s bill in the mail is a remnant of a bygone era. Clinicians can offer clients flexible options to make their payments. In some cases, a clinician may consider a patient’s ability to pay or their financial capacity to determine billing options. 

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Offering multiple options for a client to pay off their balance – be it up front payment, payment plans, buy now pay later (BNPL) or a membership fee – can increase patient acquisition and help clinicians grow their practice. 

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There’s more than one way to bill a client

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Once up and running, small private practices quickly learn the ups and downs of the patient payment habits. One study found that 83 percent of practices with fewer than five practitioners reported that their top collection challenge was slow payment among high-deductible plan patients. 

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Flexible payment options can help prevent this. Some of those options might include: 

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Payment plans: Parsing out smaller bills over a stretch of time - anywhere from 3 months to 2 years in some cases - might make a private practice more appealing to a new patient. Giving the patient multiple options to pay within that given time frame is also a smart way to endear patients to the practice. 

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Sliding Scale: Assessing a patient’s ability to pay and financial capacity, as well as determining if they’re paying completely out of pocket due to lack of coverage, can implore a private practice to adapt a sliding scale model. While the complexities can depend on the policies set up by a private practice, it can help establish client trust a lot quicker if the clinician is willing to work with them based on their ability to pay. As quality health care accessibility becomes increasingly more challenging in marginalized communities and populations, clinicians who are seeking to cater their services to those communities will want to consider this model to establish their practice mission statement. 

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Buy Now, Pay Later – The BNPL model has gained traction in the ecommerce space, particularly as apps like Klarna and Afterpay have grown in popularity in North America. According to one recent report, nearly six out of 10 consumers are aware of BNPL plans. Among “second chance” consumers who have blemishes on their credit profiles, 72% are aware of this option. This model, which is being increasingly adopted by younger consumers and clients, allows them to pay a fraction of the cost at the point of purchase, then break up the payments into smaller installments over a shorter period of time compared to traditional payment plans (usually weeks as opposed to months).

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Direct Primary Care - This alternative payment model provides health care access with a flat membership fee. There is no fee for service payments and no third party billing. Patients have access to a physician of their choice, typically for a monthly fee, depending on the membership service. The pros include unlimited access to a physician, including the ability to see them as many times as available without having to pay for each visit. The cons include out-of-pocket payment, the obligation to use non taxable dollars, and generally, a lack of coverage for catastrophic issues, including long term diagnosis like cancer and emergency medical situations like a car wreck.

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Ease Pay

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Ease Pay was designed with flexible payment options in mind to support access to quality health care for all communities. “When we designed our sliding scale payments workflow with Ease Pay, I’d reference my experience paying for services and products through layaway,” said Dr. Amaro. “Growing up in poverty helped me design inclusive and affordable payment options for patients to access healthcare.” 

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With Ease Pay, clinicians can be assured they are paid fast, every time, while providing a suite of payment methods to suit their private practice’s needs. 

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Ease Pay allows patients to split payments, set up a payment plan, or request a sliding scale. The system is designed to also set up one-time payment links and accept recurring payments with any plan. 

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Ease Pay automatically generates invoices that are secure and compliant under HIPAA regulations. Your clients PHI will be fully protected in the Ease Pay system, and invoices will be delivered in seconds. There are also reporting tools to help you track patients' payment status in real-time. 

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Ease Pay also offers competitive pricing. With an Ease Pay free plan, transaction fees are only 2.75%. Paid plans pay 0% in transaction fees. 

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Flexible options to help your practice grow

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Providing your patients with quality, accessible care is always your top priority. As you work to establish patient trust and acquire a larger client base, it can help to work with them on the financial end to improve overall patient satisfaction.