In a recent blog article, we examined how your payments solution could be costing your practice more than you realize. In one section of that article, we touched briefly on the costs associated with point of sale (POS) hardware. And cost certainly remains an important factor. These terminals are not cheap, after all, and are commonly priced anywhere from $150 to $1000 dollars. However, when it comes to payment terminals, there is more at stake than simply just the up-front costs of purchasing the hardware.
If your payments provider has left your practice with slow or obsolete hardware, your practice will be negatively affected by more than just lost revenue. Such hardware can also be damaging to your practice’s brand reputation, especially among patients from the Millennial and Gen Z age groups. In this article, we will look at how limited, outdated, and/or obsolete POS terminals could be harming your practice’s image.
Are They Dirty, Bulky, or Loud?
When was the last time you took a moment to perform an inspection of the POS terminal(s) at your practice? Quite possibly, you have not done this since you first had them installed. If that’s the case, chances are that they’re not looking so great. The buttons are probably discolored, the screen dimming, and dirt has likely accumulated in the crevices—not exactly the kind of thing one wants to see in a medical facility.
Even if they are not dirty looking, you may still be using wired terminals that have LAN modems. These terminals are not only terribly outdated but notorious for being loud, bulky, and ugly. The last thing you want is a terminal that gives your patients the impression you haven’t updated your practice’s financial tech since 1985.
Are They Slow or Showing “Card Read” Errors?
Are your terminals slow? Well, that could be caused by any number of factors. Most likely, however, you are using outdated hardware, have a damaged terminal, or are experiencing network issues. No matter what is causing it, not fixing it could harm your patients’ confidence in your practice.
Slow terminals do more than just kill efficiency in your practice. They also make you look bad to patients. First impressions may be important, but it’s the final impression that is going to stay with patients after they leave your office. For most of them, this final impression is made at the checkout counter. A slow terminal is going to result in delays during checkout, causing patients to feel frustrated and in serious cases it might even prevent them from coming back.
And what about those annoying “card read” errors? When your terminal is constantly popping up with “card read” errors during checkout, it can ruin what has up until then been a perfectly fine patient experience. It never looks good when a patient has to insert or swipe his/her card multiple times just to make a simple payment. In the most extreme cases, your checkout staff may even have to resort to manually entering the card information, which just slow things down even more. Manually entered payments are more than just slow; they’re also more prone to human error and can lead to security breaches, undercharges/overcharges, and (for some payment vendors) may even cause your practice to be charged more for that transaction.
Are They Not Wireless?
Take another look at your POS terminal. Is it tethered to the wall by an ethernet cable? If so, you are limited to accepting payments within a very small space. This means your terminal is not only outdated, but it’s an obstacle to your practice’s financial success. There is no better time than the present to go wireless.
Wireless payment terminals have been shown to improve sales and offer a better customer service experience. That’s because terminals with wireless functionality free up everyone in your practice (staff and patients alike) to make/accept payments anywhere, whether it’s at the desk or in the exam room. This means there are no unnecessary interruptions during the patient journey.
Limited Payment Compatibility?
Do you know what payment types your POS terminal can accept? Can you accept payments from your patients mobile phones or is it “Chip & PIN” only? Can your terminal easily take payments from Apple Pay or Google Wallet? Does it have tap-to-pay functions, compatible with near-field communication (NFC) technology? If not, then you are restricting your practice’s revenue-taking ability. For younger or more tech-savvy patients, the absence of these options also makes your practice seem outdated and out of touch with modern technology. In these digital times, this is not a good look for any business.
Would you like to learn more about how Nextech Payments can provide your practice with competitive transaction rates as well as state-of-the-art terminals that fit the needs and aesthetics of a modern practice? To talk to our team or set up a demo, fill out this form and we will be in touch soon!