Are you in the aged care industry and find you’re struggling with accounts receivable? Are your clients stuck with a manual payment method?
Manual payment collection in aged care is unfortunately one of the most popular payment methods, but it’s certainly not the best. While many businesses avoid transactional costs with this method, the hidden expenses quickly outweigh the benefit. This “free” approach is anything but. That’s why we’ve compiled some of the major costs associated with manual payment collection in aged care.
How many potential clients leave your business because they don’t want to deal with the hassle of manual payments? With so many companies offering digital and direct payment options, it becomes the default expectation. Your aged care services company will not grow as fast simply because your competitors have a more convenient option.
While a manual payment method helps you avoid transaction costs, it’s important to weigh this against the added administration cost. When using a manual payment method, center managers and client-facing staff have to take time away from other important tasks to receive and process payment. While the individual transaction doesn’t take much time, it becomes significant over an extended period of time.
Client Experience Impacts
Your clients won’t stick around or refer people to you if they have a poor experience. If the payment process is cumbersome or frustrating, then they’ll eventually look for another company that offers better service. You may end up with bad reviews or a poor reputation as a result.
If you ever end up short-staffed and it takes a long time for a payment to get processed, then the inconsistency ends up being a problem area too. Human error can also lead to costly mistakes, such as credit cards
that get double charged.
Digital Payment Collection in Aged Care
You can streamline the payment process and eliminate many points of frustration with the help of digital payment solutions. Rather than relying on manual methods for collecting and running the invoices, you can set up online payments and direct debit
options for your clients.
Smarter payments are made simple with the help of IntegraPay. Our versatile payment solutions enable you to completely change your payment workflow. You can take credit cards and direct debit payments without involving a staff member, and set up a recurring charge, so it happens automatically.