Will Online Doctors Replace Primary Physicians? | Online Doctor Merchant Account

Oct 08, 2015

The National Business Group on Health (NBGH) reports that online doctor visits are set to explode in 2016. Out of 140 large employers surveyed, 48% made telehealth available to their employees this year. In 2016, the number is expected to be over 74%. The telehealth industry is attracting tons of venture capital and is supposed to save American companies $6 billion a year. If you are searching for a solid investment this year, consider the telehealth industry.

Telehealth is set to become an extension of the healthcare system. The industry will serve as a first checkpoint for patients, freeing up scarce physicians for more serious cases. No longer will patients have to wait for their employer or insurance company to get a doctor’s visit approved. Now they can simply have a virtual doctor visit for minor aches and pains or checkups. Online doctor services like American Well, Teladoc, Doctor on Demand, and MD Live offer 15 minute sessions for only $40 of $50, while traditional doctor’s visits can be in the hundreds of dollars or even thousands of dollars.

But telehealth services won’t only help patients save. Employers will also see a significant savings. Telehealth is one of the avenues that will cut costs without increasing employee premiums or cost-sharing. Still diagnostic tools for exams are limited (mostly to webcams), so patients with unknown ailments with serious side effects should see an in-person physician.

Telehealth can be used in many areas of medicine like pediatrics, cardiology, radiology, and psychiatry. The Global Telemedicine Market report states that telehealth holds the most promise for seniors over age 60. Areas of medicine projected to see the most initial growth are in pathology, dermatology, and psychology.

Telemedicine will change the face of healthcare forever, making it more affordable for patients and business owners. If you are a business owner and looking to cut costs, consider implementing a telehealth plan. If you are an entrepreneur searching for the next best investment opportunity there are a number of telemedicine companies seeing investors. To open your online doctor’s merchant account, contact the high risk industries experts at EMB. EMB specializes in creating and maintaining an online doctor merchant account.

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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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