Cloud based software has become mainstream.
Yet many hospitals and practices are still using on-premise software for medical billing. There are advantages to both. So how can you decide which is right for your practice?
Want to know how to choose between hosted and installed medical loan financing software? Keep reading and I’ll show you.
On-Premise Loan Financing Software
As its name suggests, on-premise software is installed on computers and servers at your practice.
The benefits of on-premise software are:
- Smaller total cost over time since you pay everything up front
- Complete control over data, hardware, and software
- No need to rely on internet connectivity
Yet installed software costs a lot of money up front and takes longer to install on each computer. You’ll also have to hire IT specialists for support and software upgrades.
Web-based Medical Loan Financing
Cloud-based software is hosted on the software provider’s server. You access the software’s functions through a web browser.
Practices love hosted software because you can:
- Access information anywhere at anytime
- There are no installation fees
- No need for IT maintenance
- High security for patient data
- Save money on energy
The only drawback to cloud software is that you must have great connectivity. Some web-based software products are also less customizable than on-premise software.
Yet cloud software is much more flexible, reliable, and secure than installed options. If your practice wants to save money and deal with less hassle, web-based medical loan financing software is right for you.
Epic River’s patient financing program is hosted software that can easily be integrated with your current billing system. If your practice is looking for web-based patient loan software, learn more about our patient financing program or contact us to get started.