Recurring Billing Myths

• Some argue recurring billing isn’t worth it because it’s “cheaper” to avoid it.
• The actual cost difference is negligible, often just a few hundred dollars per year.

Choosing the Right Payment Processor

• Medical clinics must use high-risk payment processors for safety and compliance.
• Low-risk processors like Square, Stripe, or Shopify are not built to handle medical treatments.
  • They focus on e-commerce and general transactions, not high-risk services.
• Using low-risk processors can result in your clinic being shut out of payment systems (not entirely shut down but unable to take payments).

Understanding High-Risk Services

• High-risk classification isn’t about the treatment itself but how creditors and banks perceive the service.
• Medical weight loss, hormone therapy, and treatments involving medications are flagged as high risk.
• Risks include chargebacks due to side effects or dissatisfaction, making these transactions risky for processors.

Recommended Payment Processors

• Use processors designed for high-risk businesses:
  • Examples: USA Payments, Authorize.net (which can integrate with Shopify or other platforms).
• Systems like Zenoti (an EMR solution) handle billing, contracts, and recurring billing seamlessly while being rated for medical use.

Why Recurring Billing Matters

• Enables monthly payment plans, ensuring consistent cash flow.
• Offers convenience for both clinics and patients by automating billing cycles.

Electronic Payment Features

• Ensure your processor supports:
  • Electronic billing via text and email for efficiency.
  • Easy tracking of bills to keep accounts updated.

Integration with Accounting Systems

• Choose a processor or system that integrates with QuickBooks (e.g., QuickBooks Online).
• QuickBooks compatibility simplifies reporting and reconciliation with bank data.

Pitfalls of Low-Risk Processors

• Common complaints:
  • “My Square account got shut down!”
  • “Stripe stopped processing payments!”
• These occur because these platforms don’t allow high-risk transactions.

Final Advice

• Avoid low-risk processors for medical clinics; they’re not suitable for high-risk services.
• Read the fine print of payment processor agreements to avoid unexpected disruptions.
• Invest in a high-risk processor to prevent billing issues and keep operations running smoothly.

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