Healthcare & Medical Payment Solutions
Compliant, Secure, and Automated Services
Running a healthcare or medical practice is comparable in many ways to running any other business. The biggest different is that it’s considerably more complicated. If you’re selling tacos from a food truck, the transaction begins and ends in a matter of minutes. With a healthcare provider, you are invested with every patient for life. It can be daunting.
When we’re talking about healthcare and medical practices, it may seem a little odd to think about things like marketing. After all, this is people’s health we’re talking about. This isn’t a bookstore or a miniature golf course. So why are we talking about things like customer reviews and payment processing? Well, it is a business. We don’t always think of it that way, but it is a business. It needs a steady cashflow in order to survive. The point of running a medical practice isn’t just to make money, of course, but it does take some economic savvy to keep doing what you do for your community.
Not everyone who goes to medical school understands that you have to be something of a business person in order to run a medical practice. You can outsource a lot of the work to management professionals, but at the end of the day, you need to know what you’re doing behind the desk as well as in the examination room. You and your staff provide the best healthcare that you’re capable of providing, but even the best medical expertise can’t do much good when the business itself is not thriving. The purpose of a medical practice is to help people in need of medical attention. But the platform of that practice functions much like any business, and the foundation of that business is the same as any other: Happy customers. In your case, that would be happy patients, but the mechanics at play work out the same.
The point that we’re making here is that a medical practice can benefit tremendously by taking advantage of the same opportunities that other businesses take advantage of. That can mean everything from email marketing campaigns to tax breaks and so on. And, of course, it means ensuring that you are connected to a payment processor that understands your needs and does its best to meet them. This is where we come in.
Healthcare and Medical Practices benefit greatly from Maverick’s solutions catered specifically to this industry. As a full-service providing payment processor, Maverick’s payment services include competitive pricing, late cutoff times for batching, secure processing software & equipment, along with automated appointment management coupled with automated accounts receivable.
Maverick’s strategic partner, PatientlySpeaking, enables healthcare merchants to generate revenue through automation. PatientlySpeaking’s program includes:
Streaming services use push notifications to tell you when there’s a new episode of your favorite show up, and that is just about the least important thing you could use a push notification for. Shouldn’t these reminders be applied to things that truly matter, like a person’s health?
Most missed appointments occur because they are forgotten. Routine appointments can be booked months in advance, and we all know what happens when you book something months in advance: It becomes very easy to forget about completely. How many times has a patient called you the day after an appointment to apologize for missing the date? They just woke up and saw it on their calendar and, well, it’s too late now but… It’s a conversation we’ve all had, perhaps more times than we can count. PatientlySpeaking addresses this problem by providing a powerful appointment reminder service that ties directly into your Medical Billing System.
In payment processing, you have to deal with PCI compliance. Without checking all of the boxes and reading all of the fine print on these regulations, you could be looking at some steep fees and fines, which is why we offer $100k in breach coverage. For medical professionals, PCI isn’t the only thing with which you need to be compliant. You also have HIPAA to think about. Our PCI vendor has recently added HIPAA protection to the coverage provided.
What this essentially means is that we’re covering all of the bases for you. You can go about your business and do what your community needs of you and let us worry about fine print and regulations and compliance.
Patient A/R Platform
A lot of people are worried about the effects of automation, but the truth is that automation can only handle the jobs that take us away from the work that we actually want to do. The more labor that you can outsource to robots and computer programs, the more time and energy you will have for your patients, and the better you’ll be at your job. You didn’t study the medical field to do data entry tasks all day, you studied your field so that you could help people. With the Patient A/R platform, you can improve efficiency and even increase revenue through automation while dramatically reducing time pursuing A/R.
Patient Recall Reminders
With automatic patient recall reminders, you can maximize your existing patient relationships while improving their health through timely follow-ups, all while minimizing patient churn.
Managing any business, whether it’s a restaurant or a medical practice, will come with many of the same concerns. You need cash flow, you need staff, you need marketing, and you need reliable payment processing. Quite a bit of what you do comes down to talent, instinct, training, education and your own personal philosophy on how to run your organization. It comes down to whatever it is that you can bring to your community, the needs that you’re meeting that nobody else will. There’s no replacing the unique skills and qualities that you bring to the job with you. Our job is to facilitate that. You have your hands full between hiring the right people, outfitting your office, getting the word out to people in need of your services and so on. Every day it’s a new set of decisions that need to be made. If we can make that just a little bit easier, then we’re glad to do so, through our round the clock help desk, a robust suite of features and services, and a crack legal team that can make sure you are PCI and HIPPA compliant.
Maverick’s pre-built integration with PatientlySpeaking allows for a turnkey medical billing solution based on automation and simplicity. With PatientlySpeaking’s HIPPA-compliant software, which is also under the BAA, bundled with Maverick’s PCI-compliant processing, merchants don’t have to worry about all the different compliance requirements.
Maybe you never signed up to be a business owner, but when you start a medical practice, that’s where you end up. You have a lot of tough choices to make being in that position, but hopefully we can make some of them a little easier. For as long as you’ll have us, we’ll be proud to be a partner in your healthcare provider or medical practice.
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