Alternative Merchant Processing has been working to establish merchant accounts for medical discount plan companies.
The industry of medical discount plans is considered “high risk merchant processing” because of the pre-payment needed for the industry type. A medical discount plan is not insurance and doesn’t pay for any of your costs, but offers reduced rates on eligible services by participating network providers. Reduced rates vary by provider and type of services received. It is your sole responsibility to pay all health bills incurred out of pocket.
Alternative Merchant Processing can work with companies who specialize in physician visits, retail pharmacy, mail order pharmacy, dental care, vision, hearing, chiropractic and vitamin and diabetic supplies.
AMP is very careful to understand the business plan of our client and as part of our due diligence, we will inquire about payment rules. Some health care providers participate in a discount health plan only if consumers pay in full at the time of service. With some Plans, the consumer must pay for discounted services at the time of service in cash. As part of the background, AMP needs to understand any hidden fees, such as administrative fees for each use of the card, may reduce or effectively erase the advertised discount. Make sure the discounts available exceed the cost of membership in the Plan.
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The bottom line is that AMP will serve as your strategic processing partner. We want you to succeed and grow your business and we will do everything to provide an efficient and effective merchant processing program.