“Several of our doctor clients no longer take credit cards”
What is the rationale for this?
I can guess. The merchant pays a percentage to the card issuer, usually more than 5%. If you can get away with demanding cash then of course you do.
What is the rationale for this?”
Fee increases - including regular per card percentage plus annual fee for mandated security software as required by Dobbs-Franks bill. Does nothing to protect credit card info but made one software company a whole lot of money.
Contract rates for physicians continue to decrease so income is decreased, headcount and payroll for support personnel to process all the mandated paperwork continues to increase and basic expenses such as property taxes and utilities have gone through the roof. Cuts being made where they can.
Several of our docs and small groups are totally getting out of the insurance business and will see on private pay basis only. Reduces paperwork, staffing requirements and having to purchase more electronic equipment and software upgrades.