Hospitals, dental offices, and everything in between put up with a lot of headaches. Medical professionals need to keep their focus on patient wellbeing. But how do you focus on patients when you have to set up recurring billing cycles, track down customer information, and all the other hassles that come with payment processing in healthcare?

Online shopping is amazing! It’s fast, convenient, and you immediately have all the information from the transaction as soon as you’re done. That makes us ask the question, “If retail stores and restaurants can do this, why not hospitals?” The answer comes down to the hardware and software that the latter two have, but hospitals lack POS and mPOS Systems.

Because both tokenization and encryption in payment processing can help prevent hacking or unauthorized access, they’re often used interchangeably. However, they function very differently. As a business owner, you should know the differences between these two security measures to choose the most appropriate one to protect your data and secure customer payments.

Collections Credit Card Processing, an agency’s tool for success!

Payment processing in healthcare is one of the most complex and challenging problems facing the industry. As technology and policies continue to evolve, healthcare providers are struggling to keep up with the financial side of patient care. 

Healthcare payment processing is a broken system. Whether you have a doctor’s office, hospital, dentist, or massage therapist, you know how difficult it can be to bill a patient through their insurance. The process can take months, and even then, you still might have to hunt down their information.

Payment Processing for hospitals is more complicated than you might think. Some questions that often come up are:

If you have a product or service, you need to provide customers with every payment processing method available. Only 20 short years ago, check and card payments were the only way to go. Now, there is a multitude of payment options for consumers to choose from.

Payment gateways or “payment portals” have become essential to the security of businesses accepting payments online. When you’re just starting a business, online fraud can cost you more than a single purchase. According to a 2018 survey, Statista states that “US merchants lost an estimate of 6.4 billion dollars in payment card fraud loss.” Small businesses are no exception. On average, small businesses lost an estimated $155,000 a year. That much money can make or break a new business. That’s why it’s...