Best Telemedicine Merchant Account From EMB

Apr 20, 2017

Telemedicine can be characterized as a real-time service that uses telecommunication and information technology to provide clinical health care at a distance. Thanks to the modern technology advances, patient and healthcare professionals are given an opportunity to communicate at a distance.

Telemedicine Services

Telemedicine services are offered using email, smart phones, video conference, wireless tools and other telecommunications technology means. Thanks to telemedicine, the overall cost of medical care decreases and efficiency increases as chronic diseases become better managed with the help of shared doctors and specialist staffing.

The telehealth market is projected to grow in the upcoming years. Such demand for an alternative method to see and treat patients is the result of several things. First, healthcare costs are rising. Chronic diseases are growing in number and becoming more widespread. Aged population is also increasing, and many hospitals are becoming unable to accommodate a growing number of patients.

There are many telemedicine companies investing in the telemedicine market. To open a reliable and secure telemedicine merchant account, turn to emerchantbroker.com, the #1 high risk merchant account processor in the US. EMB specializes in creating and maintaining telemedicine merchant accounts that you can’t get with traditional payment processors in the field. EMB is rated A+ by the BBB and a by Card Payment Options. EMB is named one of the Fastest Growing Companies of 2016.

Telemedicine Industry

Zion Market Research, a market research company providing accurate market research reports and high-end data analytic solutions, has published a new report. According to the report, the global telemedicine market accounted for about $18.20 billion in 2016 and is expected to reach almost $38.00 billion by 2022, growing at a CAGR (compound annual growth rate) of approximately 14.0% between 2017 and 2022.

The telemedicine market can be characterized by the following segments ─ neurology, orthopedics, emergency care, internal medicine, gynecology, cardiology, dermatology, and others. Dermatology played a dominant role in the market, representing more than 25% share of the overall market. Neurology is projected to account for the fastest growth because of the increasing neurological complications like stroke, Alzheimer’s and Parkinson’s cases. Next come emergency care and cardiology.

When it comes to service, the market can be characterized by the following segments ─ telemonitoring, tele-education, teleconsultation, teletraining, telecare, and telesurgery. Teleconsultation was the top segment that represented a significant share in 2016.

Based on regional markets, the North America regional market is the largest in the global telemedicine market and is projected to play a dominant role all over the world. Based on revenue, Europe came after North America in 2016. The Europe telemedicine market is projected to grow significantly in the years to come.

According to RreportLinker, a technology company that simplifies how analysts and decision makers get industry data for their business, the global telemedicine market will grow at a CAGR of around 16.3% in the upcoming 10 years and will reach nearly $78.3 billion by 2025.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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