Payroll tax: How recent changes impact the health services industry
For many health businesses, payment systems can be an afterthought – necessary but not given the attention they need. With the right payment partner, any health business can access powerful tools that can improve cashflow and help grow your practice.
Traditionally, for many health businesses, inflexible EFTPOS solutions has meant providers working in the same practice would need their own separate payment terminal, leading to a tangled web of transactions, reconciliation, and administrative headaches. Nowadays, technology is providing a much smoother experience for this common issue.
With Tyro Health multi-merchant, businesses can set up multiple providers on a single EFTPOS device to process payments and settle funds to a nominated bank account. It’s simple, secure and fast, and health businesses across all modalities and sizes are adopting it.
Below, we explain five of the key benefits of multi-merchant and why so many businesses are adopting it to keep their practice running smoothly, and their patients happy.
- Lots of providers? No problem.
5, 10, 100, no matter how many health provider accounts you have, Tyro Health multi-merchant allows an unlimited number to be linked to one Tyro EFTPOS machine. With the ability to debit fees from a nominated account.
- It makes payments easy.
Card payments processed on a Tyro EFTPOS machine can settle directly to the nominated bank account of an individual provider. Easy, fast, secure.
- It streamlines practice operations.
Multi-merchant ensures that each provider maintains their distinct merchant account. This segregation of accounts enables accurate tracking of transactions, making reconciliation and reporting more straightforward.
- It allows Medicare and Private Health Insurance claims to be raised at a provider level.
A shared Tyro EFTPOS can be used to raise Medicare or Private Health Insurance claims against each provider practicing at that location. Each provider in a practice, sharing a single Tyro EFTPOS device, can be independent with respect to Medicare Easyclaim and Private Health Insurance claiming.1
- It gives you detailed insights, all in one place.
Access full transaction and settlement reports for your practice, as well as individual providers in your Tyro Merchant Portal. Having the ability to see how your practice is performing at a glance enables you to quickly understand your position, and ultimately make more informed decisions.
Multi-merchant is also a core feature of our online solution, Tyro Health Online. With Tyro Health Online, you can add an unlimited number of providers to your business, process and settle payments at a provider level for online card payments and claims for Medicare, nib (direct), Comcare, QBE and WorkSafe Victora.
Don’t let the complexities of payments get in your way. Explore multi-merchant to optimise your cashflow and scale your practice operations. No matter what type of health business you run, Tyro Health makes payments simple.
Ready to simplify your payments process? Learn more here or get in touch with our friendly team today.
- Disclaimers
- 1 Medicare Easyclaim and Tyro HealthPoint claiming via your Tyro EFTPOS machine is only available where your third-party software or practice management system supports the integration, including Tyro Health Online. You should make your own enquiries in regards to this.
