Best Practices for the Financial Experience Between Clients and Providers

Offering clients a financial experience that is positive, easy to understand, and reflects their unique needs is critical to the long-term success of your business.

The ways in which you can reduce barriers when a client is paying for your services are many and varied, but here are three of the most impactful ways you can improve their experience.

Communicate transparently and effectively

Make sure your clients understand their options and take the time to explain billing matters in plain language. For example, provide a breakdown of the cost of care before treatment begins. This will allow clients to understand what they are responsible for and budget accordingly. Having discussions about finances early on in the treatment process will allow clients to voice any concerns they may have and work with you to find solutions that fit their needs.

Be responsive to questions and concerns

Make it easier for clients to access information about their bills and payments. This can be done by:

• Providing detailed information on their invoices, including a breakdown of charges
• Making it easy for clients to find contact information for someone who can answer questions about their bill.
• Providing clear, concise billing statements that are easy to understand and communicate any changes in charges or procedures.
• Avoiding surprise costs by providing a complete list of services provided at every visit, including services rendered while the client is waiting

Offer different payment options when possible, and work with patients to find solutions that fit their budget constraints

Enabling contactless payments is a must in today’s world. Offering clients the option to pay online will make your business stand out and be more competitive. Trends show that clients nowadays would prefer to pay their medical bills online, but they may not know that this is an option. Make sure your website and/or billing software offer a way for clients to pay their bills electronically. Please consider the following:

• Payment plans offer patients the flexibility they need and want.
• Online payments allow patients to pay anytime from anywhere on any device.
• Your practice can process payments from patients more easily with a credit-card-on-file program.
• Scheduled reminders notify patients of their payment status so they know when to expect them.

Overall, providing better customer service to clients throughout their interactions with your business is a must. It’s no secret that the quality of customer service can make or break a business. The same is true for private practices. Clients want to feel they’re being heard and that their concerns are valid. They also want to feel they’re able to communicate with their care team without feeling intimidated.

Facilitating your business’s growth is very important for us here at CompanyOn. Our billing processes can help you accomplish the above goals and much more. To learn more about how you can improve your client’s financial experience with us click here.

At CompanyOn, we’re committed to supporting our community of solo practitioners. If you have a topic you would like us to research and discuss on, please let us via our social media.