Estimated at $3.8 trillion, it’s easy to see that healthcare spending is at an all-time high in the US, especially with the increased medical costs of the pandemic. As out of pocket deductibles skyrocket and insurance coverage declines, consumers are left to take on an active role in understanding the transactional side of the consultation. And with over $140 billion of unpaid medical debt on the books, practitioners are tasked with getting better about estimating costs of service and flexibility in how those payments can be made, to offer their patients extended payment options that ensure they aren’t shortchanged at the end of the day.
Practitioners who implement patient extended payments through a recurring payment solution offered by eProcessingNetwork can expect to see their business get a healthy boost in revenue and patient referrals. With ePNRecur, our recurring transaction processing service, healthcare professionals can offer both standard and elective services through installment payments, helping ensure that patients don’t decline needed treatment because they can’t afford the fees. ePNRecur offers custom scheduling options to meet the needs of customer payment preferences and integrates with our robust QuickBooks Solutions for easy accounting management. Coupled with ePNRCAU, our card account updating solution, merchants can make sure that they never miss a payment due to outdated/bad card information.