How to Collect Money

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Question: What is the best way for me to collect money with credit and debit cards in my practice?

Answer:  You have several options.  If you are not collecting at least $1500/month (approximately), then a traditional merchant account may not be in your best interest due to the various fees.  If you fall into that bracket and are considering this, contact Carolyn Zaumeyer. She has been working with providers to help you determine if  using a merchant service is a cost effective solution for your business.

If you are not yet at that level, then you’ll want to consider many of the “mobile” options available that allow you to pay as you go without monthly fees.  The transaction amount will be a bit higher, but it is often less expensive for new or smaller practices. Some options that have been used by practices include:

Before you get started with any system, you must do your due diligence and determine if it’s right for you.

Are you taking cards in your practice?  Which one do you use and would you recommend it to your colleagues? Leave your comments below.

Comments

  1. says

    I use a check-in system called Phreesia. The website is http://www.phreesia.com. The patient verifies demographincs, signs our financial and privacy policy, then swipes their credit card. It intrafaces with my electronic health record. We have used the system for a year now and it has improved our check-in efficiency tremendously. KC

  2. says

    Phreesia is a system that lots of practices are using and loving it. My understanding is it will integrate with some EMRs to help the process along. I’ve not looked at it lately, so I’m sure it does even more than it use to. Thanks for the reminder KC!

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