9 Essential Tips for Creating an Invoicing Process

So you’re ready to get started on invoicing your customers. You’ve got a plan in place — and now you need to execute it.

In this article, we’ll explain what should be included in your invoicing process and the best way to put it into action.

Be Clear on Your Payment Policy

Ensure that payment terms are a clear part of your terms and conditions when providing your services. Include late payment penalties and set your system to automatically charge them and re-invoice. To simplify this, you can integrate an electronic invoicing system that supports automated features.

Get Clients to Pay Invoices Faster

Consider amending your invoice template to make it clear that late payments add a penalty. If persistent late payments are an issue, add a note explaining how they impact cash flow. Implementing solutions like CompanyOn Payments allows you to manage and send invoices efficiently, encouraging faster payments.

Simplify Your Payment Process

Adopt the opportunity for your clients to pay for your services electronically. CompanyOn Payments allows you to send invoices via email or text message so clients can pay online. Simplifying your payment process saves time and reduces barriers for your clients.

Overdue Invoices

If reminders are being ignored, try phoning the client. Keep a friendly tone and establish the reason for non-payment. Remind them that delays impact your cash flow and add costs. If issues persist, emphasize that, as a small healthcare business, you cannot afford the expense of unpaid invoices.

Send Invoices Immediately

Late payments often stem from delays in sending invoices. Adjust your workflow to send invoices right after a service. For single visits, this strategy works well, while weekly invoicing can streamline processes for ongoing services. Using tools like automated scheduling systems can help manage both appointments and invoices effectively.

Change to Electronic Invoicing

Switching to electronic invoicing reduces the chances of misplaced or delayed invoices. When you send invoices electronically, you ensure they reach clients promptly, improving response times.

Keep it Simple

Ensure your invoices are clear and concise. Avoid overly technical descriptions or jargon. Platforms like CompanyOn make it easy to create simple, professional invoices tailored to your healthcare practice.

Habitual Defaulters Set to Implement Late Payment Fees

While it’s friendly to withhold late payment fees for occasional delays, habitual defaulters require stricter measures. Set your system to implement fees automatically once payments become overdue. Late fees often deter chronic defaulters and encourage punctual payments. For seamless tracking, consider using a patient management software to monitor overdue payments.

Cease Work Till Payment Backlogs are Cleared

As a healthcare professional, ceasing work is a last resort. If clients fail to pay, explain clearly that services cannot continue without payment. In cases where a third party manages payments, discuss the situation transparently in front of the client. This approach often encourages swift resolution. When managing payment backlogs, tools like online booking systems can help streamline operations and payment schedules.

CompanyOn offers a simple yet complete invoicing system designed to support your healthcare practice. From sending invoices electronically to automating late payment reminders, our platform simplifies the invoicing process so you can focus on delivering care.

To learn more about how CompanyOn can transform your invoicing workflow, click here.