Exploring payment diversity for an enhanced client journey in private healthcare and wellbeing

In the realm of private healthcare and wellbeing, providing a holistic experience extends beyond the services offered to how seamlessly individuals can access and pay for these services. In a world of diverse preferences, catering to various payment methods becomes paramount.  

In this blog, we explore the importance of offering a range of payment options and how it contributes to a comprehensive and client-centric approach in mid-market businesses within the private healthcare and wellbeing sector. 

• Understanding how your clients like to pay: It’s crucial to understand that your clients are individuals who have varying preferences. Our research shows that some may prefer traditional methods like credit/debit cards (38%), while others may favour digital wallets (8%), direct bank transfers or Open Banking (28%), or alternative options like buy now, pay later (BNPL) services.
• Enhancing the client experience: Offering a variety of payment options contributes to a positive client experience. Our research showed that 33% of clients class flexible payment options as a top priority from their private healthcare or wellbeing provider. Providing flexibility in payments aligns with the client-centric approach of private healthcare and wellbeing businesses, ensuring that individuals can access services in a way that suits their lifestyle and preferences.
• Digital wallets and contactless payments: Embrace digital wallet solutions to facilitate seamless and contactless transactions. With the rise of mobile payment apps, clients can easily make payments using their smartphones, enhancing convenience and promoting a modern and tech-savvy image for your business. Recent research shows that 22% of clients class mobile payments as a priority from their private healthcare or wellbeing provider.
• Subscription and membership plans: 30% of private healthcare and/or wellbeing clients said that the ability to spread payments is important to them. If it fits for your business, why not consider introducing subscription-based or membership plans for clients who prefer a more structured and predictable payment model? These plans can offer bundled services, providing clients with a sense of exclusivity and value.
• Flexible payment timelines: Recognise that sometimes, some clients may face different financial situations and provide options for flexible payment timelines. Consider offering instalment plans or staggered payment schedules to accommodate various budgetary needs.
• Security and compliance: Prioritise security in payment transactions to protect sensitive client information, as this is of huge importance to 38% of private healthcare and wellbeing clients. Ensure compliance with industry regulations to build trust and maintain the confidentiality of client data.

In the private healthcare and wellbeing sector, a holistic approach extends beyond the services provided to encompass the entire client journey, including the payment experience. By recognising and catering to all of the ways people like to pay, your businesses can create a client-centric environment that fosters trust, satisfaction, and long-term relationships.