Automatic credit card processing and billing for therapists
Automatic credit card processing (auto-payment collection) and automated invoicing are now available in TheraPlatform!
Summary
- Credit card processing allows therapists full control over automation settings, allowing them to customize billing preferences while addressing potential client concerns regarding privacy, technical issues, and payment failures.
- TheraPlatform’s automatic billing and invoicing features help therapists reduce administrative tasks by automating invoice creation, payment collection, and superbill distribution.
- Clients can make payments seamlessly, ensuring timely transactions, reducing missed payments, and improving overall financial management for therapy practices.
- The platform adheres to PCI compliance standards, protecting sensitive payment data while reducing the risk of fraud or unauthorized transactions.
→ Click here to enroll in our free on-demand Insurance Billing for Therapists video course [Enroll Now]
Billing is a big part of running a private practice and sometimes the most time consuming. Think of all the time one can spend on creating invoices and superbills, sending them to clients, posting payments and dealing with failed credit card payments. This time can easily add up to a few hours a week or even a day if you own a large practice. The solution to this time-consuming process is automation.
Streamline your insurance billing with One EHR
- Claim batching
- Auto claims
- Automated EOB & ERA
- Real-time claim validation
- Real-time claim tracking
- Aging and other reports
Auto billing function on TheraPlatform allows you to:
- Turn on auto- invoice and superbill creation so all invoices and superbills are created automatically. You control the frequency.
- Turn on auto-send invoices and superbills to clients so all invoices and superbills are sent to your clients automatically.
- Turn on auto-charge credit cards so your clients’ credit cards are automatically charged.
Now that you better understand how automatic credit card processing works, let’s take a look at some of the benefits of using automatic credit card processing.
Advantages of using automatic credit card processing in therapy private practice
Client convenience
- Ease of payment: Automatic credit card processing provides clients with a seamless way to pay without therapists needing to manually handle the transaction each time. Think of all the time you’ll save on recurring appointments and reducing friction for clients.
- 24/7 accessibility: Clients can make payments at any time, even when the practice is closed, increasing the chances of timely payments and enhancing client satisfaction.
Faster payments
- Immediate processing: Payments are processed immediately, ensuring that your therapy practice receives funds without waiting for checks to clear or handling cash.
- Automatic billing: For clients with recurring sessions (e.g., weekly, monthly), the system will automatically charge them, reducing the need for reminders or follow-ups.
Reduced administrative work
- Less manual work: Automatic processing eliminates the need for therapists to manually track and enter payment information, reducing repetitive administrative tasks, allowing them to focus more on providing care rather than chasing down payments.
- Improved accuracy: Automated systems reduce human errors in billing, ensuring that the correct amount is charged, and payment records are accurate.
Improved record-keeping
- Electronic records: Payment history is automatically logged, making it easier to keep track of transactions for both clients and the practice which simplifies tax preparation, audits, and financial reports.
- Transparency: Clients can easily access their payment history, which can be useful for both the therapist and the client in case of disputes or clarifications.
Security
- Reduced risk of fraud: Many automatic processors include features to detect suspicious transactions, providing additional security against fraud.
- PCI compliance: Automatic credit card processors are usually required to follow Payment Card Industry Data Security Standards (PCI DSS), which means sensitive payment information is encrypted and protected against fraud.
Increased client retention
- Hassle-free payments: Clients who appreciate the ease and consistency of automatic payments may be better able to build long-term therapeutic relationships with their provider.
Cost-effective
- Reduced overhead: Eliminating the need for physical payment methods (cash or checks), may save on administrative resources and check processing fees.
- Discounts or incentives: Some processing systems offer lower fees or incentives for clients who opt for automatic payments, potentially reducing overall costs for the practice.
Practice Management + EHR + Telehealth
Mange more in less time in your practice with TheraPlatform
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Challenges of using automatic credit card processing in a therapy private practice
While automatic credit card processing offers numerous benefits for therapists in private practice, clinicians need to be aware of some potential issues that could arise. Being proactive and having plans and processes in place can save time in the long run.
Client resistance to automatic billing
- Privacy concerns: Some clients may be hesitant to store their payment information online due to privacy or security concerns and may prefer to actively review the bill each time.
- Lack of control: Clients might feel they are losing control over their payments, especially if the billing frequency or amount is not clearly communicated or if their financial situation changes unexpectedly.
Technical issues
- System errors or downtime: Technical outages or glitches within the processing system could delay payments or result in transaction errors. Clients and therapists may be frustrated if payments are not processed as expected.
- Integration with other systems: Automatic credit card processing may need to be integrated with scheduling, invoicing, or other practice management systems. Compatibility issues could arise, requiring additional time or resources to ensure everything works smoothly. One of the advantages of using an integrated EHR like TheraPlatform, however, is that all of these features can be accessed from a single location.
Disputes and chargebacks
- Integration with other systems: Automatic credit card processing may need to be integrated with scheduling, invoicing, or other practice management systems. Compatibility issues could arise, requiring additional time or resources to ensure everything works smoothly. One of the advantages of using an all-in-one EHR like TheraPlatform, however, is that all of these features can be accessed in a single tool.
- Credit card disputes: If a client disputes a charge (e.g., claiming they didn’t authorize the payment), it can be time-consuming and require administrative effort to resolve the dispute.
- Refund requests: Handling refunds or addressing errors in billing can become complicated when automatic systems are involved, especially if the client’s credit card information has changed or expired.
Transaction fees
- Processing fees: While convenient, credit card payments usually come with transaction fees (ranging from 2-3% per transaction). For a practice with many clients or high-cost sessions, these fees can accumulate and reduce overall profitability.
- Flat fees: Some processors charge monthly or flat fees regardless of transaction volume, which could make it more expensive for small or low-volume practices.
Difficulty managing payment failures
- Declined transactions: If a client’s card is declined because of insufficient funds, an expired card, or other reasons, the practice may need to follow up manually, which may create awkward situations with clients.
- Communication overload: Sending payment reminders or contacting clients about failed transactions can create additional administrative work or affect the therapeutic alliance.
Legal and regulatory compliance
- HIPAA compliance: In the U.S., therapists need to ensure that any payment information they store complies with the Health Insurance Portability and Accountability Act (HIPAA), especially if the system involves health-related billing or if clients are paying through insurance.
- Consumer protection laws: Therapists must be familiar with state or country-specific laws regarding automatic billing, especially concerning how and when they can charge a client’s card.
Client tracking and preferences
Understanding client preferences: Relying solely on automatic credit card processing may alienate a portion of clients who prefer traditional methods. Some clients may prefer different methods of payment, such as checks or cash, due to personal preference or limited access to credit cards. Accepting multiple forms of payment may be an option.
Adjusting for changes: If a client changes their credit card or prefers a different payment plan, adjustments to the automatic processing system may require manual intervention or client communication, which can be cumbersome.
TheraPlatform now offers an auto-billing feature that will save your practice time and money! You have complete control over this new feature and can turn it on or off according to your personal needs and preferences. TheraPlatform, an all-in-one EHR, practice management and teletherapy tool was built for therapists to help them save time on admin tasks.
Streamline your practice with One EHR
- Scheduling
- Flexible notes
- Template library
- Billing & payments
- Insurance claims
- Client portal
- Telehealth
- E-fax
Resources
TheraPlatform is an all-in-one EHR, practice management, and teletherapy software built for therapists to help them save time on admin tasks. It offers a 30-day risk-free trial with no credit card required and supports mental and behavioral health, SLPs, OTs, and PTs in group and solo practices.
More resources
- Therapy resources and worksheets
- Therapy private practice courses
- Ultimate teletherapy ebook
- The Ultimate Insurance Billing Guide for Therapists
- The Ultimate Guide to Starting a Private Therapy Practice
