Physicians are entitled to prompt payment and it is the patient’s responsibility to provide it. Physicians should not involve themselves in medical insurance claims that can take months or even years, if ever, to settle. And all too often, it is the patient who ultimately receives payment on an insurance claim, not the physician. In a few of these cases, the patient then keeps the insurance money and the physician never gets paid at all. Once a patient has left the country, there is however, very little that can be done about a delinquent account…
CC Billing is a third party credit card company that can accept credit card orders on behalf of you and your client. This makes obtaining a merchant account for you unnecessary and eliminates time spent chasing clients for non-payment.
Membership in CC Billing allows a physician to accept Visa and MasterCard as a payment option for any client not covered under a provincial health care plan. This is beneficial for you and your colleagues particularly because you provide medical services to so many non-residents of Canada. CC Billing can reduce your bad debt substantially and decrease your receivables.
How it works…
A one-time $50 membership to CC Billing includes everything necessary to enjoy the benefits of prompt payments without dealing with any Insurance Company hassles that may delay payment for months. (This one-time membership fee will be deducted from your first transaction)
You will be provided with a portable credit card imprinter and slips. This will entitle you to unlimited transactions. There is a cost of 10% per transaction which will be deducted at the time your cheque is issued.
When was the last time you purchased a service that paid for itself?
With the following BCMA guide and the cost of a small transaction fee, your payments will be delivered within 10 business days. The following fee codes are an example of the Win-Win scenario when you enjoy the benefits of CC Billing. BCMA is a suggested guideline to fees. The following examples use an additional charge of 10% on top of the BCMA rate:
a). *Fee code 1015 BCMA rate (+10%) $299.20
less 10% CC Billing Fee 29.92
Payable to you 269.28
MSP rate would be: 85.17
b). *Fee code 310 BCMA rate (+10%) $456.50
less 10% CC Billing Fee 45.65
Payable to you 410.85
MSP rate would be: 137.05
c). *Fee code 410 BCMA rate (+10%) $371.80
less 10% CC Billing Fee 37.18
Payable to you 334.62
MSP rate would be: 145.47
d). *Fee code 110 BCMA rate (+10%) $134.20
less 10% CC Billing Fee 13.42
Payable to you 120.78
MSP rate would be: 62.03