14 Aug Convenient and Secure Payment Options
Mobile and online payment options are becoming more common in healthcare, simply because they simplify the payment process, delivering a consumer-friendly patient experience. In addition, patients are growing to expect convenient payment options. The Trends in Healthcare Payments recent 2015 report found that 64% of consumers have an interest in using mobile payment systems, such as Android Pay, Apple Pay, and Samsung Pay.
Some billing services may hesitate when it comes to mobile and online payments, simply because of misconceptions regarding security. With MPMR Medical Billing, you will not have to worry about security breaches. Our billing company is concerned that new payment options could present disruption of workflow, which can be frustrating, impractical, and time-consuming. Because of this, we use updated technologies that improve payment security, while creating an efficient, improved billing service for patients.
Apply Pay, patient portals, and digital wallets can deliver many benefits to the physician and patient. Our billing service looks to add mobile and online payment options that meet Payment Card Industry Data Security Standards (PCI DSS). These standards apply to all entities involved in the payment processing, including processors, merchants, financial institutions, and service providers. In addition, it applies to all other entities that process, store, or transmit cardholder data.
To offer mobile and online payment options, MPMR Medical Billing will ensure that they are PCI compliant. We are aware of the PCI scope and standards, and how new payment technologies can affect the size of the organization’s PCI scope. To reduce this scope, our billing service implements payment solutions from a PCI Level 1 Service Provider. Understanding payment security allows us to bring your practice new payment technologies that are safe and secure.
Patient Portal, Digital Wallets, and Apple Pay
Many patients now expect convenient payment options when it comes to healthcare bills. Patient payment responsibility is rising, so it is critical that billing services offer online payment options. A patient portal in the office is visited regularly. Therefore, adding a payment solution is a must. This offers a high level of security and will reduce PCI scope. Also, as an embedded payment solution, the patient portal allows providers to collect secure payments from mobile devices and online without having the credit/debit card data pass through unsecure networks.
Patients will appreciate the ability to pay their healthcare bills online. Billing services will also use a patient portal to offer payment plans and other ways to pay large balances. Patients may access this system at any time, and pay their bills in increments, which are saved on file. Patients will have 24/7 access to payment methods, which means the billing service has more chances to collect monies owed. With a digital wallet, the patient goes online and stores payment information for future transactions. The next time the patient logs in to the portal, they can select the payment method desired instead of re-entering all the information. The digital wallet makes online payments quicker, and also reduces the amount of effort and time making this payment.
With Apple Pay, the consumer uses the mobile device to make payments rather than reaching their credit card. Apply Pay is extremely secure, and offers three technologies to support the payments. These include: Touch ID, The Secure Element, and Near Field Communication (NFC). In addition, each cellular phone has a secure element that is a separate chip for security. When patients put their card information into the phone, the card network sends a token to Apple, which is securely stored on the phone.