With today’s waning use of checks and cash, it is no surprise that Secure Bill Pay clients have over 85% of all patient pay made by credit/debit card. However, when surveyed, most clients indicated their patient refund policy is to cut manual checks. Did you know that is against merchant account rules? “Visa does not permit cash refunds for any credit or debit card transaction. By issuing credits, you protect your customers from individuals who might fraudulently make a purchase on their Visa account and then return the merchandise for cash.” (from Card Acceptance Guidelines for Visa Merchants)
It should be no surprise that patients are becoming more accustom to “shopping” for the care they need. In 2011, nearly 30 million Americans were enrolled in a high-deductible health plan with at least a $1,000 deductible for individuals and $2,000 for families, according to the Employee Benefit Research Institute. That’s almost double the number of people who had this type of coverage just six years ago.