Easy Pay Solutions

Automated Payment Plans for Increased Cash Flow

Creating automated payment plans and securely holding cards on file to implement mandatory card-on-file programs to increase cash flow and reduce collection costs.

A medical practice suffering poor cash-flow, increased patient aged A/R, and rising collection costs needed a fix or faced closing their doors. Using Easy Pay’s virtual terminal, complete with the ability to create automated payment plans and securely hold cards on file, the practice implemented a mandatory card-on-file program. When a patient scheduled an appointment, the practice asked for a credit card to hold the appointment. The co-pay was charged to the card upon arrival, and the card information retained securely in the Easy Pay PCI Level One virtual terminal.

Once the EOB was received, the practice gave the patient 15 days to pay by check or cash. If an alternate payment form was not used within the 15 days, the practice charged the patient balance to the card on file. In a short six months the practice had virtually eliminated all balances from aging past due. They also offered automated payment plans to resolve old balances and cleaned up their aging A/R within 18 months.