Physician practices frequently establish relationships with vendors who supply software and other services not provided directly by a practice’s employees. Practices may contract with these vendors for several kinds of services, including:
- Credit/debit card processing: Allows a physician practice to maximize collections by accepting credit and debit card payment while patients are in the office
- Shopping for a Credit or Debit Card merchant Agreement: Guidelines for physicians
- What do I need to know about payer and patient credit cards
- Practice management systems: Practice management system (PMS) software typically organizes your practice's administrative and billing functions. Use our five-step guide to optimize the process of selecting PMS software for your practice, or get the information your practice needs to select the right software for your practice with the help of our vendor directory:
- Billing service: Provides a number of services related to back office billing functions, which may include billing, accounts receivable and collections
- What is a medical billing service
- Data ownership issues for the physician practice and medical billing service
- Clearinghouses: Sorts, formats and translates physician practice claims and other administrative transactions into a format accepted by payers
Learn more: - What is a clearinghouse?
- Collection service: Collects delinquent accounts receivable
Learn more: - How to select a collection service
A contract with your vendors is essential to set clear expectations for each party’s responsibilities in the relationship. Protect your practice by learning more about vendor contracting and negotiation.