Paying the LQpay Way
Is your practice keeping up with current consumer payment trends?
| 7 min read | Technology
sponsored by LQpay
In response to the pandemic and various economic crises, as well as advances in payment technology accelerating and streamlining all aspects of modern life, consumer spending habits are changing rapidly. This is particularly noticeable when it concerns investing in services that are not directly related to basic, everyday needs.
This more cautious approach to spending is impacting businesses throughout the healthcare sector, including ophthalmology. For potential customers who find themselves having less surplus capital than that of the past, these world events are reshaping not only what an individual chooses to spend their money on, but also how they go about managing those payments. Indeed, a major part of this new transactional reality lies in safe and secure contactless payments.
Small businesses that are reliant on a steady turnaround of these types of customers, such as private eye care practices, need to be able to develop alongside fluctuating consumer demands. However, many struggle with what our industry refers to as “pain points” – this phrase encompasses a host of issues, like tech integration, payment declines, cash flow management, risk of fraud, or even payments compliance.
Enter LQpay: a zero-click payment solution specifically developed to support and streamline the payment process for both ophthalmologists and patients. The all-in-one payment platform allows healthcare providers to take greater control over their customer payments; it enables the rapid communication of transactional information and can be seamlessly integrated into existing EMR (electronic medical record) and EHR (electronic health record) management systems.
At the heart of this system lies LQpay’s proprietary Robotic Process Automation (RPA), an innovative, machine learningbased technology that consistently performs and automates tasks, eliminating errors that can occur in manual processes.
In addition, the platform offers a full suite of patient payment solutions for its users, such as automatic posting of payments into patient accounts, payment alerts notifying patients of the amount to be paid, virtual terminals with multiple integration options for a practice, text-to-pay and contactless solutions for customers, payment care tokenization, various e-commerce features, and zero-click payments (a feature eliminating the need for any kind of payment checkout).
Once implemented, patients can make effortless payments from their mobile device, with all transactions being instantly posted to the practitioner. The software is also HIPAA and PCI-compliant and, given the intuitive nature of the technology, requires minimal training for ophthalmic staff members to use it effectively.
The LQpay platform simplifies the inherent payment complexities that can detract from – and slow down – any successful practice. This state-of-theart, AI-drive billing software significantly reduces the time and effort required for daily administration tasks, thereby freeing up time for a busy surgeon to focus on what truly matters: the patient. By minimizing manual data entry, practices can even enhance revenue streams through smoother collections of overdue balances.
All these features lead to greatly improved cash flow, and this upgraded efficiency also enables practitioners to provide a seamless point-of-sale experience for patients, ultimately leading to optimized patient care and positive customer satisfaction, and offering a transformative approach to how your practice processes patient payments.
