|
Does every client who applies and is approved have an account opened for them?
Yes. If they are approved, the client will have an account opened in their name.
|
|
|
What is the authorized user program?
The authorized user option creates extreme flexibility in using the MedChoice program. It allows clients to be an authorized user on a friend or family member's account. Ask a MedChoice account representative for more details.
|
|
|
Will MedChoice approve a client for a partial amount?
Yes. MedChoice will not decline a patient based on the requested amount. We will approve the client for as much as possible. Frequently we can establish a credit limit that is greater than the requested amount.
|
|
|
How will we receive our application decisions?
If the application is done online, you will receive an answer on your screen within 5 seconds. Otherwise you will receive them by fax or email. You can choose what is most convenient for your practice.
|
|
|
Is there a minimum purchase requirement?
There is a $1.00 minimum purchase requirement for the use of the Standard Regular Revolving Plan. Promotional plans are available, but have different minimum purchase requirements.
|
|
|
Are account holder's monthly payments fixed?
No. This is a revolving account in which the payment is based on the outstanding account balance. The account holder's payment will go down as their account balance goes down.
|
|
|
What is the minimum payment on a MedChoice account?
The minimum monthly payment is 3.25% of the account holder's balance or $75.00 (whichever is greater).
|
|
|
Is there a pre-payment penalty?
No. The account holder can pay off their MedChoice account at any time without any pre-payment penalties.
|
|
|
Does the account holder have to wait until they receive their card in the mail to use the account?
No. Once you have received an approval from MedChoice, all you need to do is fill out the sales receipt and fax it to us to complete the transaction.
|
|
|
How much is my practice charged to offer MedChoice to our clients?
MedChoice has various plans available to suit your practice's needs. These plans will vary in cost based on your preference. Please call 800-358-8980 Option 2 and a MedChoice representative will be able to answer your specific questions.
|
|
|
Does MedChoice have any deferred interest programs that we can offer our clients?
Yes. MedChoice offers 3, 6, and 12 month deferred interest plans.
|
|
|
Are there any fees associated with offering MedChoice to our clients?
There are no enrollment fees, application quotas, equipment to buy, or monthly fees to participate in the MedChoice program. We do charge a nominal fee to process funding.
|
|
|
How can my practice sign up for MedChoice?
You can start the enrollment process today by calling 800-358-8980 Option 2. A MedChoice representative will be happy to assist you.
|
|
|
Will MedChoice offer support to my practice?
Yes! We will provide you with personalized training and an account representative assigned to your practice. MedChoice also has a call center dedicated to providing friendly client and pratice care.
|
|
|
How does my practice receive funding?
Within 72 hours of receiving a completed sales receipt, MedChoice will release an ACH directly into your practice's bank account.
|
|
|
What if an account holder doesn't pay their bill?
If an account holder defaults on their account, your practice is not held responsible.
|
