Digital Payments in Dentistry
The consumer adoption of digital payment methods like Apple Pay, Google Pay, Venmo and PayPal is growing exponentially. But what are these exactly and why are they relevant for dental practices?
What are digital payment methods?
Digital payment methods are simple, seamless payment solutions designed to be used on modern digital devices like smartphones, tablets or PCs.
Some digital payment methods store credit card information to make paying for goods and services on that device easy. Examples of these digital wallets include Apple Pay, Google Pay, Samsung Pay, and PayPal. Other digital payment methods actually transfer funds directly from one account to another. Examples of this type include Venmo and Zelle. In all cases, these digital payment types are contactless, and can be executed remotely from the in-office experience.
Digital payment methods are growing rapidly. In 2020, more than 78% of Americans used a digital payment, and their use has expanded from online purchases to more traditional environments such as in person shopping. This trend in consumer behavior is finding its way into healthcare as contactless and remote payments are preferred by patients coming out of the recent pandemic. This presents an opportunity for forward-thinking practices to more effectively meet patients where they are when it comes to payments and billing, while providing a next-generation convenience to improve the patient experience.
Why digital payment methods are critical in oral health
Many patients’ lives are fundamentally run on their smartphones, and this is no different when it comes to oral healthcare. From scheduling care, to receiving clinical results, to making payments, patients expect practices to meet them when and where they are, which is mobile-first. Most importantly, patients are switching providers if they are presented with poor billing and payment solutions from their current caregivers. This fact is further exacerbated the younger the patient’s age.
In dental billing, the easier you make it for a patient to pay the more likely a patient is to pay their bill. Forward thinking dental practices recognize the consumerization of patient billing and payments, and are investing to create a seamless, digital-first and mobile experience for their patients. Digitizing billing and collections also erases the costs of labor, print and postage, delivering much needed profit for the practice.
What is a seamless payment experience? One where:
- Patients receive billing and payment communications via text or email, and any paper statements have clear direction to pay conveniently online and via a scannable QR code
- Payment can be easily accessed on a mobile device, remotely or at the point of care delivery in-practice
- There are no website logins or portal credentials to remember, nor is there a third party application to download and install
- Digital payment options are intuitively presented in such a way the patient can complete payment through the convenience of their favored digital payment method
How can I implement digital payments at my dental practice?
FeatherPay can help your practice implement these digital payment methods, and more. We handle all of the technical integration, security and ongoing innovation in an elegant, practice-branded user interface that provides an empathetic and wonderful patient experience.
To learn more about how FeatherPay can help your practice improve financial outcomes while providing a world-class patient and practice staff experience, schedule a demo with us today.