Quality medical care is essential to living a long and healthy life. But as medical costs continue to escalate with preventive care and routine check-ups, it’s important for medical facilities to make sure they are collecting full payment. Check payments offer a comfortable and convenient method for consumers to cover medical costs. Likewise, medical check processing services help guarantee consumer check payments, reduce risk and grow your bottom line.

As the Milliman Medical Index (MMI) reports below, medical costs will exceed $20,000 for the average American family of four in 2012. With this record-breaking total, health insurance coverage will start to insure a lower percentage of medical bills. This means more of the balance will need to be paid out-of-pocket by the consumer and checks remain a viable option for them to do so. The MMI continues with the following breakdown of the spending component for the average family of four and relative care:

It’s important to point out that hospitals are not the only medical facilities this data pertains to. Inpatient, outpatient, physicians, and pharmacies are included and suited for medical check processing services. Regardless of medical practice, each check processing service was designed with simplicity and convenience in mind in order to stimulate sales and revenue.

Pharmacies and urgent care facilities benefit from Standard Check Guarantee because they can authorize check payments instantly by phone, Internet, or credit card terminal. This process is quick, efficient and does not interrupt the transaction or medical care procedure. Similarly, physicians utilize Electronic Check Processing for its automatic processing and depositing features. With Remote Deposit Capture, recovery, and back-office conversion benefits are all available.

Not only are healthcare costs rising but life expectancy is too, albeit at a slower rate. The CIA estimates the average American will live "78.49 years based on the average number of years lived by a group of people born in the same year, given mortality at each age remains constant in the future.” As both costs and life expectancy continue to grow, medical care will be needed more often and grow accordingly. In this case, a Multiple Check Premium is beneficial because patients can write 2-4 checks for a single visit equaling the total amount, but spread the payments out over time.

Medical check processing services should be adopted as soon as possible to start guaranteeing check payments and capitalizing on the growing medical cost trend. For added convenience, each program is typically installed at the point of sale for quicker processing.

Check processing services can take advantage of rising medical costs by processing check payments quickly and efficiently, ultimately increasing total revenue.