In the fast-evolving healthcare landscape, effective payment management is paramount. Your practice faces a dual challenge: optimizing every dollar spent on outgoing payments, while also ensuring every dollar received for patient care is maximized. With the rise of virtual cards and the push for efficient electronic transfers, understanding all payment options is crucial for your financial health.
Mertex Technologies, an authorized reseller of comprehensive payment solutions, offers an end-to-end platform designed to empower your medical or dental practice, or clinic to navigate these complexities, streamline workflows, boost revenue, and elevate the patient experience.
Imagine turning your everyday supplier payments into a source of income. By adopting healthcare virtual credit cards (VCCs) for your accounts payable, you can revolutionize how your health system, hospital, or physician practice manages expenses.
Earn a monthly revenue share directly from the interchange fees on your outbound VCC payments. This effectively converts a traditional cost center into an actual profit center.
Optimize working capital by better managing your payment timing.
Eliminate expenses tied to printing, mailing, and reconciling paper checks, plus minimize escheatment risks.
Significantly reduce fraud risks inherent in traditional payment methods.
Gain detailed reporting and robust management tools for easier budgeting, spending oversight, and reconciliation.
Understanding the Hidden Costs and Maximizing Your Profitability
While you can earn from sending VCCs, receiving them from health plans for claims payments is a different story. These one-time-use VCCs, while electronic, come with significant processing fees—often up to 5% for "card-not-present" corporate transactions. Unlike patient credit card payments that help mitigate bad debt risk, these VCCs offer no such benefit, yet they directly reduce your reimbursements. This means less revenue for the care you provide.
Don't let high incoming VCC fees eat into your revenue. Mertex Technologies provides an all-in-one patient payment solution to transform your revenue cycle. We empower you to offset VCC costs, optimize collections, and improve financial efficiency. The result? Reduced or Eliminated processing fees and a thriving practice with enhanced front-office operations.
In today's evolving healthcare landscape, staying ahead with advanced payment technology is key. Our software partner can revolutionize how your medical practice handles transactions, improves patient interactions, and optimizes financial processes. This allows you to not just keep pace with industry advancements, but to lead in providing efficient, patient-centric care.
Our users see an average of 25% reduction in overall credit card processing costs, or even eliminate them entirely. Our innovative Compliant Surcharging or Dual Price feature lets you transparently pass a portion of these fees to patients, adhering to card brand rules. These direct savings free up capital, directly helping to offset the costs from incoming virtual credit cards (VCCs).
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