You Don't Take Plastic? Fewer Physician Practices Accepting Credit Cards

A recent study shows that 33% of Physician Offices Do Not Accept Credit Cards.  According to the study, this is a 5% increase over the results of a 2008 survey asking the same question.  The study also suggests "doctor offices are limiting this form of payment as a result of their patients being adversely affected by high interest rates, maxed out credit limits and a more challenging ability to qualify for credit."

I believe a better reason for the increase in practices not accepting credit cards is that the
 practices themselves are struggling financially and are looking for ways to improve the bottom line.  When you're being charged for every transaction to run a credit card, those fees may add up.  Every practice is looking for expenses to cut, but be careful of how difficult you make it for a patient to pay off their balance. Like any business, patients decide which physician they want to see based a number of things including convenience.  When it becomes inconvenient to pay, many patients just won't.  That's why online bill-pay solutions have been so successful and have a proven ROI.  


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