This is an excerpt from a member-only article. To read the article in its entirety, please login or subscribe.

If your physician practice is like many others, then every month you have balances due from patients who haven't paid you. You might not be able to eliminate outstanding balances, but accepting credit cards can help you decrease them and increase your monthly revenue. Many practices don't accept credit cards, which have a reputation of being burdensome and expensive. But holding out for cash can cost you big money. Monthly revenues at one New Jersey practice increased by about $2,000 after it started accepting credit cards. Facilities across the country are enjoying similar results.