Financials are always the most difficult topic of discussion with patients, potentially causing much discomfort for those with low incomes, particularly if problems with payment do arise.
With Medarc’s built-in billing system, taking care of payments and transactions between clients is hassle-free and completely safe. The software comes complete with specialized medical billing data entry and transmission via clearing house, offering secure clearing and settlement services for every user.
What is a clearing house?
If you’re unfamiliar with the clearing house payment style, think of it as a way of bringing in a payment facilitator, a third party that helps both the “buyer” and the “seller” (in this case the patient and you/your practice) in order to mitigate any payment risks that could possibly exist between the two parties. This works by having the trusted clearing house present to hold separate deposits for collateral from each member of the transaction. The clearing house then monitors the credit for both the “buyer” and “seller” independently and even backs them both up with a guarantee fund, ensuring that both parties are safely insured by outside funds in case something does go wrong.
Essentially this is a means of behind the scenes enforcement that gives you and your patient’s piece of mind and assurance that the payments scheduled to be made are always delivered on.
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