Coordinating your practice management software with an integrated payment solution offers your dental practice significant advantages over third–party solutions.
An integrated payment solution streamlines three parts of your practice: payment processing, practice management and patient experience. When these three parts work together, seamlessly and automatically, you can improve operational efficiency and strengthen your practice structure as a whole.
Here are some ways to use an integrated payment solution to your advantage.
Automating your accounting and ledger with an integrated payment solution frees your staff from the time–consuming process of manually entering and reconciling transaction information. Updated in real time, your integrated ledger shows immediate transaction history for patient accounts. This process reduces costly human error, prevents double entries in your ledger, and improves overall cost savings for your practice.
The less attention you spend tracking payments, the more focus you can put on other areas of your practice. Affecting both your back–office and front–office operations, an integrated payment solution helps ease day–to–day tasks, saving time spent on manual procedures and money spent on labor costs.
Stronger payment data security
With an integrated payment solution, your practice gains the value–added services of tokenization and end–to–end encryption. These services provide greater payment data security.
Tokenization makes it safer to keep a patient’s payment card data on file for the convenience of recurring billing. Tokenization replaces a patient's credit, debit or prepaid–care card information with a uniquely generated series of numbers and characters known as a token. The token masks the true card number and can be deciphered by the issuing bank during authorization. End–to–end encryption encrypts payment data in transit from your practice to the payment processor.
The right payment solution for your practice can increase data security, improve patient confidence and retention, and ultimately help grow your revenue.
Better customer service
An integrated payment solution supports your staff's ability to assist your patients and helps your practice improve the overall patience experience. It can track payment history and behaviors, maintain patient interactions, and provide data for more precise patient engagement. Integrating your payment solution with your practice management system can also help you keep a closer eye on inventory, supplies and deliveries. As a result, you can provide the kind of customer service and patient experience that creates more business for your practice.
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* This document was written and prepared by Vantiv Integrated Payments. Henry Schein, Inc. and its affiliates (‘HSI’) did not contribute to the writing or research and make no independent assessment of the content and descriptions provided by Vantiv.