In today's rapidly evolving healthcare landscape, along with the need to address constant challenges, the National Health Service (NHS) should be seeking innovative solutions to increase income and drive transformation.
One key area that is often overlooked is a straightforward way to regain outstanding debts and improve on delayed payments from various sources. This can easily be done by implementing modern payment processes.
So, exactly what key benefits could be achieved by implementing payment processing software, and how could quick and convenient payment methods help to facilitate the transformation of NHS trusts?
Payment processing can play a big role in helping NHS trusts meet payments security and compliance obligations as it often comes with robust security measures, including encryption, tokenisation, and compliance with industry standards and regulations such as the Payment Card Industry Data Security Standard (PCI DSS). By utilizing secure payment processing systems, the NHS can maintain patient trust, safeguard sensitive data, and mitigate the risk of data breaches.
Payment platforms can also integrate with existing NHS systems, enabling seamless data exchange, which facilitates efficient payment reconciliation, financial reporting, and data analysis, leading to better decision-making and resource management. By utilizing secure payment processing systems, the NHS can maintain patient trust, safeguard sensitive data, and mitigate the risk of data breaches.
Traditional payment methods often involve manual processes that are time-consuming and costly, whereas payment processing software enables NHS trusts to offer a variety of payment methods to patients. These payment methods include mobile payments, contactless payments, and online portals. By catering to the diverse preferences of patients, trusts can increase payment compliance and facilitate faster revenue collection.
Our payment software can also send automated payment reminders to staff, patients, and families, reducing the chance of missed or late payments. These reminders can be customised to suit individual preferences and can be sent via email, SMS, or in-app notifications. By ensuring timely payment reminders, the software helps to minimise the occurrence of unpaid bills and improve overall revenue collection.
With modern payment processing software, the NHS can offer patients various payment options, such as online payments, phone payments, and contactless transactions. By offering a choice of convenient payment options, NHS trusts open the opportunity for staff, patients, and families to choose the method that suits them best, making the payment process more seamless and user-friendly.
This level of flexibility allows patients to choose their preferred method, reducing friction and enhancing satisfaction.
We’ve come to expect choice in all areas of life, and especially in how we choose to pay for products and services, where we take quick, convenient payment methods for granted, whether it’s online, in person using Chip & PIN and contactless, or via the telephone.
With the shift in culture towards smartphone use, and the payments arena continually evolving, the time is ripe for the NHS to be able to make the most of consumer habits to maximise the income opportunities available to them.
By offering the payment methods above, trusts can significantly reduce the amount of administration needed to receive payments. Real-time integration with your finance and patient record system, including automatic updating of your back-office system once the payment has been made, removes the need for re-entering payment information, with the option of being able to retrieve the balance payable to present to the patient.
Traditional payment processing methods, such as manual data entry and paper-based transactions, can be time-consuming and prone to errors. By adopting modern payment processing software, the NHS can automate payment workflows, reduce administrative burden, and minimise the risk of human error. This increased efficiency will also allow staff to focus more on patient care.
By leveraging payment software to offer a variety of payment options such as direct debit, mobile payments, contactless payments, and online portals, the NHS can cater to the diverse preferences of patients, resulting in increased payment compliance and faster revenue collection.
Take the example of a patient visiting the hospital for a pregnancy scan, where payments could be taken at the time of taking the ultrasound pictures. This then avoids the patient needing to traipse around the hospital to make payment at the cashier’s office, before taking the receipt back to the clinic to collect their scans.
Even providing the ability to take contactless payments when out-of-hours prescriptions are dispensed can save time and reduce administrative costs involved in pursuing payment of invoices that carry a high risk of not being settled. Suddenly prescription charges can easily be settled at the point of delivery service.
It may seem a small step when you consider the wide adoption contactless payments already has, but the NHS has much to gain from riding the crest of new payment models to seek income they’re entitled to for paid-for services.
The implementation of payment processing software is playing a pivotal role in increasing NHS income and driving transformation for both staff and patients within trusts. Embracing a diverse range of payment options will contribute to the overall goal of providing high-quality healthcare services to patients while ensuring the long-term viability of the NHS.
Welcoming payment processing software is not just a means to streamline financial operations; it is a step towards delivering better healthcare services and maximizing the resources available to the NHS.