Now more than ever, NHS trusts need to ensure they are saving every penny and generating additional income in order to continue providing the best service possible to their patients. With that in mind, we believe that cost improvement managers and cost recovery managers that work for the NHS should be considering the introduction of self-service payment machines when it comes to selling prescriptions. And here are 5 reasons why.
1) Directly Combat Revenue Loss
The issue of revenue loss due to individuals obtaining free prescriptions out of hours is a significant concern for many hospitals within the NHS. Traditional payment systems often rely on manned counters that operate during specific hours, leaving a gap in the coverage for prescription payments outside these times. This gap not only contributes to revenue leakage but also poses challenges in maintaining accurate financial records.
Self-service payment kiosks can play a pivotal role in addressing this specific challenge. By providing a 24/7 payment option, these kiosks ensure that individuals can settle their prescription fees even during non-operational hours. This not only helps in capturing revenue that might be lost otherwise but also aligns with the evolving demands for accessibility and convenience in healthcare services.
The implementation of self-service payment kiosks effectively extends the window for revenue collection, reducing the instances of individuals obtaining free prescriptions during periods when manned counters are closed. This proactive approach to payment processing aligns with the financial goals of NHS trusts, ensuring that revenue is captured promptly and comprehensively.
2) Eliminate the Debt Collection Model
Moreover, the convenience offered by self-service payment kiosks can positively influence patient behaviour. Rather than receiving their prescriptions and then the hospital having to chase them up for payment (often to little joy), our self-service prescription payment machines enable individuals to easily and conveniently pay for their prescriptions first. This not only benefits hospitals in terms of immediate revenue but also contributes to better financial planning and stability.
3) Cost Savings for the NHS
By introducing self-service payment kiosks, NHS Cost Improvement Managers can realise significant cost savings. Traditional payment methods often involve manual handling, leading to increased labour costs and potential errors. By introducing self-service kiosks, NHS trusts can significantly reduce the need for manual intervention, allowing staff to allocate their time more efficiently.
Moreover, self-service payment kiosks can streamline administrative tasks related to payment processing. The reduction in paperwork and manual record-keeping not only saves time but also minimises the likelihood of errors, leading to potential cost savings associated with rectifying mistakes and reconciling accounts.
4) Data Security and Compliance
EasyPay Network prioritises the security of financial transactions. Our self-service payment kiosks are designed with robust security measures to protect patient data and ensure compliance with 3D Secure and PCI DSS. This commitment to data security aligns seamlessly with the stringent standards upheld by the NHS, providing peace of mind for both patients and your trust.
5) Real-Time Reporting and Analytics
Effective decision-making requires accurate and timely information. Self-service payment kiosks from EasyPay Network offer real-time reporting and analytics capabilities. NHS Cost Improvement Managers can access valuable insights into payment trends, helping them make informed decisions to further optimise financial processes.
Here are EasyPay Network, we’re ready to collaborate with NHS stakeholders, leveraging our expertise in designing, building, manufacturing, and installing self-service payment kiosks. By embracing innovation in payment technology, the NHS can enhance operational efficiency, improve patient satisfaction, and achieve significant cost savings. If you’re an NHS Cost Improvement Manager, contact us today to start the conversation and save your trust money.
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