Healthcare Providers Can Improve ARM and Reduce Risk with a 'Credit Card on File' System

High-performing physician practices empower their front end workers the resources, tools and training needed to make successful receivables happen. An important tool that physician practices can use to mitigate their risk of not getting paid on the back end is the Credit Card on File system.

What is ‘Credit Card on File’ System?

In a Credit/Debit Card on File (CCOF) system, every patient’s credit card information is stored in an off-site source. This enables physician practices to charge the credit card automatically for deductibles, co-insurance, co-pays, balances and non-covered services. Furthermore, CCOF system helps physician practices to set payment plans, so that patient payments can be automatically credited on a predetermined schedule mutually decided by the facility and patient. Credit/Debit Card on File systems shift patient’s back-end accounts receivable system to a front-end accounts receivable system.

For the rest of the blog entry, including three specific steps to implementing a CCOF system, check out the full post on the Array Services Group blog here.