Unlike traditional payment processing methods that involve a lot of paperwork and human errors, electronic payment processing systems don’t include using paper, and the possibility of errors is quite minimal. The electronic receipts generated thereof have multiple advantages for your healthcare practice. Discussed below are six benefits of electronic receipts for your medical practice.
1. Improved Customer Satisfaction
Paper receipts require a lot of time and space to organize. Also, they’re prone to getting lost and damaged. Providing electronic receipts in your medical practice betters customer satisfaction. They’re easy to manage and keep safely. Digitized receipts help reduce client stress levels when the tax season comes. You can safely send these receipts to your clients via email, where they can easily access and retrieve them. With the help of a reliable payment platform such as Encuadrado, you can receive payments online, then generate electronic receipts and send them to your medical practice clients.
2. Makes Your Staff More Productive
Processing payments electronically frees your staff from repetitive and time-consuming tasks generating receipts and reconciling financial statements. It also helps them avoid dealing with bounced checks and bank deposits. Electronic receipts are a perfect way to safeguard sensitive patient data. With receipts, your employees don’t have to worry about arranging huge office cabinets filled with paper receipt files.
Unlike paper receipts, where your staff must sort through paper file stacks looking for accounting information, electronic receipt records can be accessed easily with a few clicks. Electronically kept payment records make it easier for your staff to rebill and process refunds. It also eases the setting up of recurring payments.
3. They’re Easy To Access
Unlike hardcopy receipts, electronic receipts are easy to access because they’re kept on digital clouds where you can retrieve them with a few button clicks. Keeping digital receipts on the cloud optimizes workflow as you don’t have to keep wasting time sifting through paper files to find the receipts you want. In addition, paper receipts need manual capturing, raising human error risk. Investing in receipt scanners can help track your electronic paperwork.
4. Fast Receipt Sharing With The Accounting Department
Sharing paper receipts with your accounts team can be challenging. They require sufficient scanning time; at times, scanning hard copies onto digital platforms reduces the printed data’s visibility. With e-receipts, all the data is visible and can be shared with several people without the need to make copies. Since electronic receipts are kept in the cloud, they can be accessed and sent to the accounts team even when you’re away from the office.
5. Safeguards Against BPA Exposure
While BPA is not risky at low levels, touching printed paper exposes you to this chemical more frequently than necessary. Scraping hardcopy receipts and adopting electronic ones enables you to minimize BPA exposure. With e-receipts, there’s no contact handling, making it safer for your clients and staff.
6. Reduces Clutter And Storage Costs
Hard copy receipts require a lot of storage space. You may be forced to get archive boxes to keep your receipt files, creating clutter in your medical office. With electronic receipts, you can eliminate clutter and the need for storage space, saving money. Also, there won’t be a huge paper trail around your medical facility or big boxes consuming most of the available space.
Unlike hardcopy receipts which are challenging to keep and manage, digital receipts have multiple business rewards. Familiarize yourself with the benefits of electronic receipts to determine how they can improve your medical practice.