Introduction
While healthcare businesses play a vital role in people’s lives, they must ensure a positive experience for every individual they interact with.
As a healthcare provider, it is essential to go above and beyond to deliver the best possible experience.
Payment plays a significant role in these interactions, and businesses must take it seriously.
In this article, we will discuss three crucial payment tips for businesses in the healthcare industry.
1. Automate insurance coverage verification
Insurance coverage holds immense importance in the healthcare sector, as highlighted in a previous article on the state of payment in the Nigerian healthcare industry.
Unfortunately, less than 10% of Nigerians, as well as individuals across sub-Saharan Africa, have health insurance coverage.
In retail healthcare, verifying insurance coverage can be time-consuming and frustrating for customers who often require urgent care in hospitals and pharmacies.
Businesses must automate the insurance verification process to eliminate this unnecessary wait time. Collaborating with an insurance provider with the right system is an excellent starting point.
2. Provide multiple payment channels and methods
Multiple payment options can attract more customers and increase revenue for healthcare businesses.
The critical nature of healthcare services necessitates a seamless payment experience that minimises any hurdles for customers.
Healthcare providers should enable users to pay using various methods.
Businesses can receive online payments through their payment gateway-powered checkouts.
These checkouts can be customised to allow customers to make initial payments and begin receiving healthcare services.
Fincra also empowers healthcare providers with virtual accounts, enabling them to collect bank transfers and payments in different currencies.
In-person payments are facilitated through Fincra’s POS Terminal solution.
These diverse payment channels accommodate various methods, including card payments, bank transfers, and Mobile Money (M-PESA).
3. Maintain effective communication
Every healthcare transaction scenario is overwhelming, with customers making payments under distress due to their own or their loved one’s illness. At the same time, the staff is overworked, as is often the case in this sector.
Therefore, effective communication is crucial in informing customers of their financial obligations.
Send clear and detailed policies, billing statements and other required obligations and regularly follow up on outstanding bills.
Conclusion
Fincra can handle the heavy lifting in payment processing, allowing businesses to focus on what they do best—delivering exceptional healthcare services.
Create an account with Fincra or speak to a representative today.
