Uber Model for Physical Therapy

The Uber Model - Frictionless payments for Physical Therapists

February 13, 2017 No Comments

The Physical Therapy community could learn a lot about patient satisfaction from the Uber model.  The “new standard” in on-demand transportation has enabled anyone to simply tap their mobile phones and have a taxi arrive at their location. Along with descriptions and ratings, we now know who will be arriving, when they will arrive, and exactly how the payment will take place. Amazing!

Learn how an the Uber Model can help patient satifaction and facilitate Frictionless Payments for your Private Practice today!

Sign up for a demo today!

One of the most ingenious components of the app is the introduction of the concept of frictionless payments, and the improvement of the user experience. Think about it, in traditional Taxi’s, the payment function is cumbersome, and adds critical time to your journey. 

In revolutionizing the payment, Uber has significantly enhanced the user experience.

What is the case for Physical Therapy to adopt the Frictionless Payments Uber model?

A traditional treatment plan consists of a 1-3 office visits per week for several weeks. This equates to multiple transactions over the course of treatment, accumulating a significant amount of wasted time spent simply processing the co-pay.

Why not leverage the Uber model and securely store the card data and simply process the transaction when the patient arrives for treatment? The result? Hours of time saved for both the patient and front desk staff, and ultimately, a more streamlined check-in process resulting in happier patients.

Better yet, reduce No Show rates by collecting the payment via secure message upon appointment confirmation, and securely store the card data for future patient responsibility.

The “Nuts and Bolts” of Frictionless payments

Just like Uber, Physical Therapists need proper methods for communicating policy and securing credit card data to streamline the patient payment process. This begins with the proper Financial Policy, which outlines how your practice expects payments, and the authorization to securely store credit card data.

Secure Card Data Storage – The technology around securing card data in a HIPAA compliant manner begins with the first authorization, in which the credit card is encrypted when captured, then tokenized, so no card data is ever stored locally. This token is then applied to a patient record and used upon each office visit.

Traditional credit card terminals, and the merchant service providers that supply these devices, traditionally fall short of providing the level of security required for effective card data storage. Further, traditional terminals do not have the means to re-charge the token when needed.

In summary, Private practice owners have a lot to gain by implementing the Uber method for securing payment from patients. Equipped with the proper financial policy, and patient payment solution, Physical Therapists will benefit by having a happier, more engaged patient.

To fully leverage the Uber model for you Physical Therapy office, you must leverage a payment platform designed with this functionality in mind.

Sign up for a demo today!

Tags: tokenization, Healthcare Payment Solutions

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