|
|
| PAYMENT PLANS PRICING | ||
| ACH (Electronic Checks) | Credit Card | |
|
Settlement (when the money is deposited in your account) |
On the 10th & 25th of each month |
2-3 days after the payment is collected |
|
Transaction Fee, Disposition of Funds and Collection of Fees |
$2.50 per payment. DOCPAY pays the doctor portion directly to the doctor's bank account. Transaction fee is kept by DOCPAY. Example: $102.50 Collected from patient -$2.50 DOCPAY fee $100.00 Paid to doctor |
$2.50 per payment. DOCPAY pays both the doctor's portion and the transaction fee directly to the doctor's bank account. The $2.50 transaction fees are then collected from the doctor's bank account at the end of the month. The card processing fees are collected by USMS directly from the doctor's office. Example: $102.50 Collected from patient $102.50 Paid to doctor -$2.50 DOCPAY fee -$2.45 Card processing fee (2.25%+.$20 pd by Dr to USMS) $97.55 Net to Doctor |
| Signup Fee | $0 | $75 one time setup fee (Paid to DOCPAY) |
|
Monthly Gateway Fee |
Not applicable if you are already using DOCPAY ACH |
$10 per month (Paid to DOCPAY) |
|
Other Transaction Fees |
None |
2.25% plus $.20 per transaction and $8 monthly card statement fee (Paid to USMS, DOCPAY's preferred card provider) |
| ONLINE PAYMENTS PRICING (Applies only to online payments made by patients on the DOCPAY website) |
||
| Fee paid by Dr to: | DOCPAY | Card Processor (USMS) |
| Standard Fee |
$1.50 per payment. (applies to all online payments) |
2.25% + $.20 per payment. (applies ONLY to card payments, NOT ACH) |
| EXAMPLE- $300 Payment | $1.50 | $6.95 |
| In the above example the total fee paid for the $300 online payment is $8.45 (using DOCPAY online payments). In contrast, most credit card processing companies charge a very high fee for "card not present" transactions like these (typically 3.5% to 5% of the transaction amount). For example, at 4%, that would typically be a fee of $12 on a $300 payment, which is $3.55 more than you would pay using a DOCPAY Online CardPayment. |
||
Card Payment Pricing |
The patient pays the same fee for using DOCPAY Payment Plans, whether the payment is drawn against a bank account or a credit card ($2.50 per payment). On card payments, there will be a $75 signup fee and $10 monthly gateway fees paid to DOCPAY in addition to any fees paid to the card processor. |
DOCPAY will send Practice Statements to your office on the 10th and the 25th of each month. The Practice Statement will list both ACH and credit card payments. ACH funds are credited to your bank account by CSI. Card payments are credited to your account by the merchant card processor (US Merchant Systems). |