If you’re a doctor, a physician, or medical practitioner, you need a virtual doctor merchant account. While these accounts were previously reserved for inherently high risk businesses such as poker and gambling, that is no longer the case. Medical practice is just as risky if not riskier than the said industries.
For a start, medical practice is a “die-by-the-rules” industry. The profession operates by strict guidelines which every practitioner is expected to adhere to. Failure to conduct oneself within the stipulated regulations usually amounts to breach of conduct.
Drug administration is another area that makes medical practice a rather risky industry. Some drugs are regulated at the federal level and you can’t just prescribe them as you wish. Also, wrong prescriptions, knowingly or unknowingly is a serious offense in medical practice.
All these are scenarios that may cause significant business disruptions and which you need to guard against.
Get a merchant account
Every practitioner in the medical and pharmaceutical industry needs a merchant account, and not just for the two reasons mentioned above. With a merchant account, you will be able to accept credit cards – an Achilles heel to most practices. The world is changing and NOT being able to accept cards is the worst thing that can happen to your business. Today, consumers will show up at your practice armed with nothing but the card. If you can’t process the card, that consumer might have to consider other providers. More importantly, most patients are now ordering prescription refills over the internet. If you can make it easy for them to pay online too, then they will likely enjoy the experience.
Accepting cards also makes other processes such as patient registration easier. With the swipe of a card, the patient can quickly register with your practice and proceed to seek actual care. Even keeping track of medical expenses becomes much easier.
Finally, accepting cards is a great idea for any virtual doctor because it makes collections a simpler process. You will be able to pull up records more easily and even follow-up is simpler.
Get immense benefits when you open a merchant account with EMB
Alongside the benefits that naturally come with accepting credit cards, opening a merchant account with EMB also comes with several other advantages. These include;
- Fast account approvals
- 24/7 account monitoring
- 24/7 customer support
- No set-up fees for most merchants, and
- iCheck processing