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Top 5 Preferred Payment Healthcare Features

1. Fully PCI and HIPAA compliant
2. Accept all card types, including HSA/FSA
3. Electronic Invoicing, E-Check and ACH Payments
4. Customer Relationship Management (CRM)
5. Installments, Store-and-hold functionality & Recurring Payments

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Solo Practices, Group Practices & Employed Physician Practices
The medical industry is constantly evolving and providing new ways to cure the same ailments that patients have been dealing with for years. It is time for the payment acceptance to evolve as well. In the past, healthcare professionals have invoiced patients and have had to wait weeks if not months to be paid for their service. This can be a nightmare for accounts receivable, reconciliation and cash flow as a whole. With the advances in electronic healthcare payment processing, this is a problem of the past.

The medical industry is constantly evolving and providing new ways to cure the same ailments that patients have been dealing with for years. It is time for the payment acceptance to evolve as well.

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Medical offices & Pharmacies may also choose to simply have a countertop credit card terminal to accept payments at the time of service. Save time and money rather than invoicing merchants and waiting for checks to clear. Funds will be in your account within 24 to 48 hours in most cases. Terminals also provide the functionality for Apple Pay and other NFC payment options like Google Wallet, Android & Samsung Pay.

Online payment gateways are just one way to simplify the payment process and receive your funds in a timely manner. They provide functionality that will eliminate tedious manual entry of card numbers with storage of encrypted data on a secure server. Utilize this functionality to take payments at the time of service or setup monthly recurring payments based on the patient’s needs.

Tips and Tricks!

Recurring billing allows for customers to automatically make payments overtime.

Accept HAS and FSA payments with a Preferred merchant account.

Instead of sending out an invoice in the mail, use our electronic invoicing system to speed up the process of payments.

Did You Know?

Consumers showed that 52 percent of consumers would pay from $200 to $500 or more by credit or debit card when they visit a physician.

The healthcare industry transacts high volumes of paper checks, in spite of the fact that patients today require capabilities for web, phone, credit card and e-check payments, as well as payment plans.

25% out-of- market medical care costs are paid for with credit cards.

25%

Source: McKinsey Quarterly, jpmorgan.com