Do you have banks of credit card terminals provided to you by your clients? How are you distinguishing your company in the marketplace today? What if you could tell your clients that you don’t need or want their machine because there is a more SECURE solution to protect their PATIENT information?
The solution is not software, but rather a hosted “cloud” technology platform that never goes out of date, is always PCI DSS compliant, and is compatible with all the major payment processors. Virtually any payment other than cash is possible with a hosted solution, so as the industry changes, you’ll be on the forefront of various payment type acceptance, plus get funds into your client hands faster with more advanced reporting than has ever been available.
4 critical benefits you can offer your medical clients:
1. Real time treasury reports- the number one reason business site wanting our cloud-based payment processing technology.
– Dynamic reports and Graphics can show location, entire country operation treasury reports, and dozens of others. In just minutes CFO’s can see their business operations from many perspectives.
– Review collected funds in real-time, on demand, from any location. Check or credit card.
– Export data for other systems on demand.
2. Payment Card Industry Data Security Standards Compliance. Most have no idea what PCI DSS is, yet the merchant account holder is responsible and liable in the event of a data breach. Educating your clients and helping them reduce risk is a competitive advantage.
3. Eliminate terminals- no need to replace hardware due to being outdated.
4. Guaranteed best interchange qualification- whatever their price plan, this system will ensure every transaction processes at the lowest rate possible via patented technology. Human and equipment errors are eliminated. Merchants can keep their existing processor- or change- we’re neutral.
Medical Business Payment Problems:
– Time gap from services rendered to cash in bank.
– Patients paying a co-pay on the visit, then after getting paid by the insurance company, the patient ends up having a balance due.
– Offering option to make multiple payments special circumstances.
We offer two distinct solutions for MEDICAL BILLING PROVIDERS to help solve these problems:
1. VIRTUAL TERMINAL
This solution can be implemented immediately and is fully compatible with existing merchant accounts. Your clients want you to use this because they like the graphical reports and instant access to data on demand.
You can resell the solution. This is an up-sell service your clients really want once they see it.
2. On location equipment PLUS VIRTUAL TERMINAL
Hardware at business office and Virtual Terminal at billing provider (you). The sales for both retail card present and subsequent sales, card not present, will appear in the Virtual Terminal and all reports.
REBILLING SOLUTION: TOKENIZATION
Access a secure payment processing platform and create a TOKEN to enable rebilling the patient or to set up recurring billing. Card data is never stored at the merchant location and the token links only to remotely hosted encrypted data. To re-bill, the merchant enters the patient name, transaction amount, and the TOKEN ID.
Patients agree to have their card charged, usually up to a specified amount, at the time of the original transaction. Merchants can print a receipt, or have an email automatically sent with the receipt.
- Improve cash flow.
- Reduce or eliminate collections.
- Simplify the billing process- reduce workload.
- PCI Compliant- secure solution eliminates exposed card data.
- Reduce opportunities for internal fraud by eliminating receiving card data within mailed billing responses.
- Managed payment processing costs- eliminates costly human errors that result in interchange qualification downgrades.
- Optional Signature Capture terminal at the medical business location stores patient opt-in agreement electronically indefinitely.
- Access secure web page from any computer.
- User control for all functions and reporting. You decide who can perform what type of transaction and who can access reporting.
- Optional industry template to capture insurance policy number, account number etc. Export reports on demand.
- Real- time cash flow. Enables management to see multiple locations at a glance.
- Multiple merchant accounts- Use the same system for multiple doctors within a location.
- No more banks of terminal or dedicated phone lines- login to each merchant account to process a transaction.
- Minimal set- up. No major upfront investment.