You probably guessed plastic surgery. You are correct, at 91%. Internists are just over 50% Pathologists round out the bottom at 21%. However, the trend is apparently less, not more acceptance. The interchange fees can run 3-4%, which cuts into the physician's bottom line. I find the lack of acceptance of credit cards hard to believe.
At a 4% fee, if you increased your collection rate by just one patient out of every 25, you would come out ahead, not even including the billing expenses incurred from unpaid balances. It takes increasing your collections on just one patient a day in a 25 patient per day clinic to come out ahead. And it's easier to collect a $100 "outstanding balance" on credit card than it is to ask for $100 in cash.
Sunday, July 5, 2009
Which Medical Specialty Has The Highest Acceptance Of Credit Cards?
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1 Outbursts:
well, Im worried about getting on internal medicine.
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