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Online Billing Program Helps Private Practitioners Increase Revenue
Small business owners outside the mental health community have known for some time that accepting credit and debit cards is one of the best ways to expand their business and increase revenue. When businesses offer convenient ways for their customers to pay for products and services, they're more likely to receive payment! Business owners are well aware of the positive impact accepting credit cards can have on their bottom line. Therapy Partner banked on this idea when it entered the mental health market nearly four years ago with the first online billing program of its kind for the mental health industry. For the first time, therapists and other fee-for-service professionals have an easy way to accept credit cards using Therapy Partner - an online billing system designed to meet the specific needs of private practitioners. Therapy Partner's web-based billing program securely stores client contact information and form of payment in a therapist's account. With a click of the mouse, therapists can automate payment for services rendered through their office, without impeding the consultative time they have set aside with their clients. Therapists using the Therapy Partner program have reported increases in revenue anywhere between 10-20% after their first year of service. This increase is mostly attributed to the therapist's ability to accept credit cards using Therapy Partner's online format. Therapists have found their clients like the convenience of using credit and debit cards and more likely to pay for services-people just aren't writing checks anymore. According to the Federal Reserve, the use of paper checks is declining steadily each year. This trend has left many therapists using "check-only" payment policies empty handed. Those practitioners who accept credit cards are attracting more clients. Clients feel they have more access to professional services when they can use their credit card to pay for services. "Cash-only" policies often deter clients from seeking services they feel they desperately need, even though they're willing to pay by other means. Therapists using Therapy Partner have found they're no longer afraid to charge appropriate fees for the services they provide and have foregone sliding their scale to accommodate for the cash requirements they once placed on their clients. Accepting credit cards allows clients to pay how they want and ensures payment for the service provider. A true "win-win" situation for everyone! Therapy Partner's online format also allows therapists to bill for all of their consultative time, without having to continually ask for additional money from their clients. Therapists have found discussions about money often cloud the consultative space and prohibit them from asking for payment at all, despite having performed the work. The additional suite of billing and administrative services Therapy Partner offers also helps therapist save an enormous amount of time. In addition to tracking client session and payment history, Therapy Partner automates monthly statements to all clients registered in a therapist's account, saving valuable time and in the end, a lot of money. Therapy Partner is a tool that allows therapists and other fee-for-service professionals to focus on what they do best, without compromising their ability to be financially successful - A true evolution for those in the mental health industry. For more information about Therapy Partner or to schedule a free web demonstration, visit www.TherapyPartner.com, or call 1-877-232-9847.
NEWS SOURCE: Therapy Partner Corporation
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REFERENCES: Online Billing Program Helps Private Practitioners Increase Revenue, Therapy Partner Corporation, online billing program is helping psychologists, psychiatrists and other fee-for-service professionals, Mental health providers and other professionals working in private practice, accepting credit cards, TherapyPartner, press release, Dec 27, 2007. |
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