Merchant Accounts for your Telemedicine Needs

Telemedicine becoming more common

Telemedicine became popular during the COVID-19 pandemic and physicians and medical providers have noticed it has not slowed down and continues to be popular.  Advanced technology has allowed patients to be able to skip going to an actual office to receive treatment by their providers providing telemedicine visits using phone and/or video chats and interact in real time.

This sector is expected to grow rapidly in the next five years leading to a greater need for merchant account solutions. While the field is still somewhat new and is still growing it can be difficult to open a merchant account.

In addition to medical terms when it comes to opening a merchant account it is important to understand terms such as terminals, point-of-sale, chargebacks, gateway setup, and so much more.   Because these visits are not in person payments are cashless and opening a merchant account is necessary in order to be paid.

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Telemedicine Practices We Approve

As a telemedicine provider when trying to get a merchant account, some banks may deny offering merchant accounts because of the risk and because of the type of telemedicine services they provide and may not want to be associated with them.  However we approve the following that provide telemedicine services that many other banks may have denied:

• Weight loss, diet pills, and supplements
• Male Enhancement pills
• Magic mushrooms, ketamine, and psychedelics.
• Anxiety, Depression, ADHD and other mental health services

Whether your practice is small or large it is important to work with a reputable merchant account provider to ensure you are meeting your patient’s needs and are getting paid promptly.  When looking for the right merchant account provider you should:

1. Check the reputation of a service provider by asking colleagues or other practices about their service providers because the reputation always precedes the provider.
2. Check if the provider is offering a money back guarantee. Most reputable merchant account providers offer a 30-day trial offer.
3. Understand what kind of customer service do they offer? Do they have a toll-free number and what are the service hours? What is the customer feedback on their services and reliability?
4. Check the fees that providers are charging from the sale proceeds and that they are reasonable and that there are no hidden charges or fees
5. What kind of support does the merchant account provider provide? An ever-expanding practice will require POS retail, mobile and virtual terminals which can be upgraded in the future and it is important for a provider to be able to provide support even after providing service.
6. No cap on volume: Especially in the medical field, there should be no capping on the number of credit cards you can accept in a month without having to pay additional fees. Hence, always obtain clarity on the monthly volume for your account before signing a contract.
7. Since it is new technology and devices that are being handled, ask if they provide training and help with troubleshooting any issues.

Here’s why you should pick us

Our goal is to build a relationship and not just a business transaction.  We have served many clients in this industry for years and can provide references and reviews and find the right merchant account for your practice.  There are no application fees or start-up fees.

Start the process and contact our friendly customer care agents and we will start the process to have your payment processors running in no time.