Deviceless Payments Eliminate Card Terminals and Much More

Technology continues to play a growing role in solving human problems. In 2020, such innovations as hyper-personalized medicine, digital money, and anti-aging drugs all were included in a list of technological advances compiled by MIT. In healthcare revenue cycle management, technology also becomes more important with each passing year. Deviceless payments is an emerging technology already transforming the way many providers allow patients to handle their financial responsibilities.

Deviceless payment technology does exactly what it sounds like: accepts payments in the call center or point-of-service without using a card terminal payment device. This innovative technology dramatically impacts how healthcare call center and point-of-service employees take payments securely from patients. It’s also a creative way to significantly save on capital and operational expenses healthcare providers normally allocate to a single commodity: payment devices.

Ease of use and data security are key perks for both providers and patients. Healthcare providers simply send an encrypted link via text or email—or do a soft transfer to an IVR system—to enable patients to pay their bill with their own personal smart device. This process allows patients to securely enter credit/debit card or ACH information without ever exposing their sensitive financial data.

Deviceless payments are PCI-compliant—always critical anywhere payments are taken—which takes on heightened importance when CSRs work from home as a COVID precaution. Home environments are less secure. Financial information could be overheard or may not be protected as well as in the call center facility.

Why should clinics, health systems and hospitals move quickly to cut the cord on traditional card terminals? Reducing costs and health risks could be the biggest reasons of all.

From a cost perspective, eliminating payment terminals can save providers hundreds of thousands of dollars annually on capital and operating expenses. With no new hardware to purchase—and no need to maintain existing hardware or upgrade software—savings can range from $250,000 to $1 million or more depending on the size of a facility or system. In a clinical setting, deviceless payments also eliminate unnecessary contact with potentially deadly germs when patients make co-pays.

Untethering patient payments from card terminals eliminates high costs, security risks and health concerns. Deviceless payments in healthcare is a technology that’s here for good.