Merchant Processing for Healthcare Industry

Moneybox offers tailored payment processing services to an extensive array of healthcare entities and businesses

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Payment Processing Services for the Healthcare Sector

Your primary mission in healthcare is to deliver superior care to your patients and clients. Nonetheless, efficiently managing payment collection is crucial for the sustainability of your services. At Moneybox, we collaborate with healthcare providers to establish payment processing systems that are customized to meet their specific requirements.

Healthcare billing can be intricate, with the involvement of numerous stakeholders, insurance claims, and diverse billing codes. Moneybox equips our healthcare partners with the capability to accept payments through multiple channels, providing patients with various payment options. Whether payments are made online, over the phone, by mail, or directly at your facility, Moneybox’s solutions are designed for ease and convenience.

Varieties of Healthcare Credit Card Transactions

Contemporary healthcare providers need to offer versatile payment methods to accommodate their clients and patients. PaymentCloud offers the following payment avenues for its healthcare partners:

Online Payments: Moneybox equips healthcare organizations with secure online payment tools such as payment gateways, virtual terminals, mobile payment solutions, and digital invoices. This setup enables patients to make payments via credit or debit cards from the comfort of their homes, enhancing convenience. Our services include robust encryption and security measures to protect sensitive payment information.

In-Person Payments: When patients come to your clinic, having an efficient payment system is vital for a smooth administrative experience. By providing options for on-the-spot transactions, you not only make it convenient for your patients but also secure immediate revenue for your practice. Moneybox facilitates this by allowing you to accept payments through all major credit cards and contactless methods right at your healthcare facility. With a retail merchant account from us, you can start processing these payments without delay.

MOTO Payment: For those moments when a visit to your office isn’t necessary or possible, Moneybox offers virtual terminals that enable over-the-phone credit card processing. This service allows your patients to settle invoices or handle overdue payments with ease from wherever they are, providing your practice with a flexible payment collection method that doesn’t require an in-person visit.

Advantages of a Healthcare-Focused Payment Processor

Relying on a generic payment processor for a healthcare business can lead to suboptimal experiences for both the healthcare provider and their patients. Here are the key benefits of opting for a payment processor tailored specifically to the healthcare sector:

Specialized Industry Support: When you work with a payment processor that specializes in healthcare, you benefit from their in-depth knowledge of the sector’s particularities. This expertise is invaluable when you encounter payment-related issues. You need a support team that not only understands payment processing but also the intricacies of healthcare billing and operations. A general payment processor might not provide this level of industry-specific support.

Enhanced Security: Security is paramount in healthcare, where protecting patient data is not just important—it’s mandatory. Opting for a payment provider with expertise in healthcare ensures that patient information is safeguarded with robust security measures, helping to prevent fraud and maintain compliance with regulatory standards. Moneybox, for example, provides payment solutions with sophisticated anti-fraud mechanisms to protect against fraudulent activities.

Maximized Profit Retention: Many healthcare providers are hindered by legacy payment systems that are not only inefficient but also costly. Collaborating with a contemporary healthcare payment processor helps reduce transaction costs, thereby allowing your organization to keep a larger share of its earnings. A payment processor designed for healthcare can significantly enhance your financial efficiency.

Why Opt for Moneybox?

Moneybox stands at the forefront of payment processing for the healthcare industry. Here’s why numerous healthcare providers prefer us as their payment processing partner:

Cost-Effective Services: Our team of seasoned merchant service providers collaborates with healthcare businesses to craft payment solutions that are not only effective but also budget-friendly. By choosing Moneybox, you can sidestep the elevated costs often associated with payment platforms like Square or Stripe, helping you to maximize your profit margins through competitive processing fees.

Healthcare-Tailored Features: At Moneybox, we provide a suite of features designed specifically for healthcare, streamlining everything from invoicing to payment tracking while ensuring the security of sensitive patient information.

Diverse Payment Methods: We understand the need for versatile payment options in healthcare. Our comprehensive payment solutions include digital invoices, online payments, contactless transactions, QR code payments, and beyond, catering to the varied preferences of your patients.

Advanced Fraud Prevention: We equip our healthcare clients with top-tier tools to minimize the risk of chargebacks and financial fraud, protecting both your business and your patients from potential threats.

Frequently Asked Questions

Moneybox supports a wide range of small, mid-size, and large healthcare & medical business sectors, including doctor offices, dentists, hospitals, psychologists, chiropractors, dermatologists, plastic surgeons, medical labs, and more.

Moneybox Merchant Services supports the following payment gateways Authorize.net, NMI , TSYS, and Firstpay.

What industries does Moneybox Merchant Services accept as clients? Moneybox specializes in mid-risk as well as specific high-risk industries (the terms “mid-risk” and “high risk” are used here from the perspective of the merchant services industry). We are proud to serve the following industries:

  • Accounting & Tax Prep
  • Adult
  • Airlines
  • Alcohol
  • Antiques & Collectibles
  • Apparel & Clothing
  • Automotive
  • B2B
  • Bad Credit
  • Bail Bonds
  • Bar & Restaurant
  • Cigars & Tobacco
  • Cleaning Service
  • Clothing & Apparel
  • Collectibles
  • Continuity / Subscription Products
  • Continuity-Subscription
  • Credit Monitoring
  • Debt Consolidation
  • Dental
  • Digital Downloads
  • Digital Streaming
  • Document Preparation
  • Drop Shipping
  • Ecommerce
  • Educational Seminars
  • Electronics
  • Events
  • Furniture & Home Furnishings
  • Guns & Firearms
  • Gyms, Fitness & Yoga
  • Hair & Beauty Salon
  • Health & Fitness
  • Healthcare
  • High Volume
  • Hotel & Hospitality
  • Hotels & Lodging
  • Hunting & Outdoor Equipment
  • Insurance
  • Insurance / Warranty
  • Jet Charter
  • Law Firms
  • Legal Services
  • Magazine Subscriptions
  • Medical Billing & Coding
  • Medical Supplies
  • Membership & Recurring Billing
  • MLM Companies
  • Moving Companies
  • Nonprofit
  • Nutraceuticals & Supplements
  • Online Dating
  • Pawnbrokers & Pawn Shops
  • Pet Products
  • Precious Metals
  • Property Management
  • Real Estate
  • SaaS Companies
  • Self Defense, Tasers & Stun Guns
  • Seminars & Coaching
  • SEO & SEM Services
  • Smoking Accessories
  • Survivalist & Tactical Gear
  • Taxes and Accounting
  • Tech Support
  • Telemedicine
  • Ticket Agencies
  • Tobacco & Cigar
  • Transportation & Moving
  • Travel & Timeshare
  • Travel Agency*
  • Utility
  • Vape / e-Cig / eJuice*
  • Veterinarians
  • Web Design Services

Please note, this is NOT a complete list; Moneybox Merchant Services Inc. serves hundreds of additional mid and low risk industries, too. We do not have a full list of industries we can work with, instead we keep a list of business that we currently can not support. See our FAQ page for more info. If the opportunity is right we will of course try to be considerate.

Sorry, we are unable to provide merchant services for foreign or offshore businesses, or any company that is headquartered, or operates, outside of the USA. We are also unable to provide merchant services for any business whose owner does not have a valid SSN and US issued identification (driver’s license, US passport, etc). That said we are working to fix this issue and should have a solution early 2025.

Yes, your startup or new business can be approved by Moneybox Merchant Services for a merchant account. We love startups! While newer businesses without processing history sometimes encounter hurdles when it comes to approval, Moneybox has helped many brand new businesses get their start in payment processing.

A high-risk merchant account is designed for businesses deemed as “high-risk.” These types of businesses have a greater likelihood of chargebacks, fraud, or other financial risk factors. High-risk businesses require such accounts to be able to accept credit and debit card payments.

Various industries are considered high-risk because of their inherent attributes. Some examples include CBD (Cannabidiol) products, e-cigarettes, vape products, stun guns, credit repair services, multi-level marketing, adult products/services, pawnshops, dietary supplements, SEO services, and tech support.

No central authority determines a business’s high-risk categorization. Every payment processor or bank sets its own standards, often based on internal risk management criteria. Providers assess businesses based on several detailed information bits to ascertain risk levels.

Factors contributing to a high-risk business include being a new business, having poor credit records or low credit scores, operating in controversial or highly regulated industries, relying heavily on international sales, and previous placements on the MATCH list by payment processors.

High-risk merchant accounts differ from regular accounts in several ways such as having a longer application process, higher payment processing fees, cash reserve requirements, volume caps in credit card processing, higher chargeback fees, and additional requirements based on the business type.

A high-risk business should ensure it maintains healthy cash levels, tries to reduce chargebacks, discloses all relevant information during the application process, keeps its financial documents ready, and adheres to the guidelines set by its payment processor.

A high-risk business can find a suitable merchant services provider by researching and listing down payment processors that cater to their industry. Businesses should consider factors like the processors’ experience in their industry, processing fees, equipment provided, customer support, experience with businesses in the same industry, and support for diverse payment methods.

Moneybox Merchant Services Inc. may not cater to all high-risk businesses (e.g. CBD merchants). It offers an upfront underwriting process that identifies risk factors early, saving the merchant time and potential costs. However, if Moneybox cannot service a particular business, they may recommend a processor better suited to your needs.

Best Processing & Support

“We conducted thorough research and compared different pricing options before settling on a new provider. After careful consideration, we chose Moneybox. We have been happy with the results for years since using their services. We interact with the product daily through their website, and most of the payments are automatically processed using Authorize.Net. We find Moneybox to be a reliable and efficient company.”
– Tom
Tom Bostic
Happy Customer

Fast Service, Unmatched Customer Service

“We changed our website and needed to get a new processor fast. Their prompt service and secure system are unmatched. We have been using their services for a while now and have never had any issues. In fact, they even require us to call them once a year to ensure our system is up to date. As our business continues to grow, we are excited to explore the many options that Moneybox has to offer, including a point-of-sale. They have been our go-to solution for everything, from terminal issues to website processing security. We couldn’t be happier with their exceptional service.”
Valmore Forgett
Happy Customer

Simply Amazing Technical Support

We were starting a new business and needed a reliable company to process our credit card payments. After some research, we found Host Merchant Services and began working with them in January 2021. The staff has been very helpful, and we’ve had positive experiences with both the Compliance team and technicians. We process payments in person using a terminal, and the service and machine have been excellent with no issues.
Tony and Sherry
Happy Customers

Consistent Communication

I had a wonderful experience with this company regarding high risk merchant services. Their consistent communication and daily updates regarding my application status during the approval process were greatly appreciated.
Christian
Happy Customer

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