Payment Processing for Healthcare: A Way for Healthcare Professionals to Cut Costs
Payment Processing for Healthcare
Payment Processing for Healthcare: Over the past a number of years, doctor’s expenditures have gone up quicker than before, while payments from insurance companies have declined. With rising costs and lower payments medical people need to find ways to save money. Most doctor’s offices are spending over $1000 a month to take their patients’ Visa™ and Mastercard™ payments. There are ways to reduce the fees that the medical office pays the credit card payment processor. Interchange is the fee to the medical office for accepting credit card payments from patients. If a payment processor or merchant account provider won’t give you interchange pricing then tell them to go away. Any reputable merchant services provider should give what you want as there are many payment providers available. A typical payment processor will charge you for a percent of the transaction, plus credit card interchange and a flat fee per transaction. So how can you reduce the amount of money you pay? You need to find a payment processor who offers a monthly subscription fee. You should ask for free credit card terminals from the payment processor. Your payment processor won’t make money unless you accept credit card payments so they should offer you the terminal for free. Get a free credit card terminal Don’t pay a lease fee for the terminal Don’t pay for the terminal to be programmed Don’t buy a terminal from a payment processor Free Credit Card Terminal Programming. It does not take much time to program a terminal and the payment processor should be able to handle this quickly. There are other fees that some payment processors may try to charge you. Your payment processor should already be handling this on their own. Some payment processors will charge you to get a report of your transactions. The payment processor should be able to provide you access to an online website for you to download the transactions that you had in a month. There is work for the payment processor here so they should be receiving some form of payment. What payment processor is good for Medical Offices? Fattmerchant is a payment processor that meets the criteria that we outlined in this article. As we find other payment processors that offer a deal similar to Fattmerchant, we will add to this article.