Points4Pay: Improve cash flow and turn everyday health and dental practice expenses into rewards
Running a health, dental or allied health practice in Australia has never been more financially complex. Rising staff costs, ongoing payroll tax uncertainty, tighter Medicare claiming rules and higher financing costs mean cash flow management is now as critical as clinical care. At the same time, many practices and practitioners are looking for smarter ways to extract more value from unavoidable business expenses, particularly service fees, payroll and supplier payments.
Octet’s Points4Pay addresses both challenges. It improves cash flow certainty for practices and practitioners, while allowing practitioners to earn frequent flyer points on their service fee spend.
Across the health sector, practices are dealing with:
- Increasing wage, rent and supplier costs that must be paid on fixed schedules
- Ongoing payroll tax complexity that has driven changes to how service fees are collected and paid
- Tighter Medicare claiming timeframes, increasing the importance of clean and predictable payment cycles
- Greater patient price sensitivity, particularly in dental, optical and other privately billed services
For practices operating service-fee or contractor models, this often results in:
- Slower or uneven cash inflows
- Higher admin costs to manage multiple pay cycles and reconciliations
- Limited flexibility when large expenses such as payroll, BAS or tax fall due
Points4Pay was designed specifically for health and dental care businesses to address these challenges, without adding complexity.
- Accelerates service fee payments to the practice, improving cash flow predictability
- Provides practitioners with up to 30 days flexible credit terms, helping smooth personal and professional cash flow
- Rewards practitioners with uncapped Qantas Points or Velocity Points on their service fee spend
Points4Pay operates through a central digital Wallet, designed for the day-to-day realities of health businesses. From one platform, practices can:
- Receive service fee payments faster
- Pay supplier invoices
- Fund payroll
- Manage BAS and tax obligations
- This gives practices greater visibility and control over cash movements, while reducing reliance on short-term funding solutions.
- Reduce Days Sales Outstanding (DSO): By accelerating service fee payments to your practice, Points4Pay helps reduce your DSO, improving cash flow and financial stability.
- Boost sales and increase retention: Offering a frequent flyer loyalty program to eligible practitioners can enhance retention rates and attract new talent.
- Save costs and reduce admin work: The easy-to-upload pay cycle reduces administrative burdens and associated costs.
- Strengthen relationships with Practitioners: Octet manages the service fee payments, paying the practice directly and collecting from practitioners, thus simplifying the payment process.
- Access to pre-approved finance: Practitioners receive up to $200k in pre-approved finance, providing them with a pre-approved line of credit* and agreed number of credit days. This helps manage cash flow more effectively.
- Earn frequent flyer points: Practitioners can choose to earn Qantas Points or Velocity Points on their service fee spend. These points can be redeemed for flights, upgrades, holidays and a wide range of lifestyle rewards.
- No change to existing banking arrangements: There is no need to open new bank accounts or restructure personal finances.
The process is designed to be straightforward and efficient:
- Pre-approval: Octet provides each practitioner with a pre-approved line of credit* linked to their service fee account.
- Service fee summary: Every cycle, practices provide Octet with a summary of service fee amounts due.
- Payment processing: Within 24 hours of uploading the summary, Octet pays the service fees to the practice.
- Credit days: Practitioners receive an agreed number of credit days, after which Octet will direct debit their nominated account.
- Frequent flyer points: Following the successful direct debit, practitioners receive their frequent flyer points.
Points4Pay is suitable for:
- Medical and GP Practices
- Dental Practices
- Veterinary Clinics
- Pharmacies
- Specialist Practices
- Allied health and multidisciplinary clinics
Discover how Points4Pay can benefit your practice and your contracted practitioners. Register your interest or reach out to our team for more information:
- Email: points4pay@octet.com
- Phone: Call our Healthcare Finance Specialists on 1300 862 838
Octet’s working capital finance solutions for the healthcare industry help by unlocking the opportunities in your supply chain.
We also collaborate closely with commercial finance brokers across a wide range of industries. If you have clients who could benefit from Points4Pay or other supply chain finance solutions, such as Debtor Finance or Trade Finance, please contact us.
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Disclaimer: The above article content and comments are our views and should not be construed as advice. You should act using your own information and judgment. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgment as at the date of publication and are subject to change without notice.