The American Medical Association sent a letter to the Centers for Medicare and Medicaid Services earlier this month asking the regulatory body to prohibit this type of payment from insurance companies. The letter also requested providers be encouraged to adopt new electronic funds transfer standards.
Physicians receiving credit card payments, which have up to 5 percent processing fee, can request payers issue payments through electronic funds transfer to deposit the payment directly into the practice’s account, according to the report.
More Articles on Orthopedic Surgeons:
Dr. Matthew Lovell Joins Southern Indiana Orthopedics
New England Baptist Hospital to Open $25M Outpatient Orthopedic Clinic
Dr. Craig Westin Treats US Olympic Figure Skating Team in Colorado
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.