Many clinics use conventional payment tools to manage billing workflows, without realizing that healthcare payments operate under a unique framework. A clinic is not a retail business, yet many are using retail payment tools without understanding the hidden costs, operational strain, and compliance risks.  
 
This mismatch contributes to what can be called the “private practice squeeze”: high accounts receivable, rising overhead, manual errors, and staff constantly chasing payments instead of focusing on patient care. 

Why healthcare payments are different from retail payments 

When comparing healthcare payments to retail payments, the goal is to make the process just as easy as buying something in a store. While this sounds appealing in theory, the reality is very different. Healthcare operates within complex regulations and insurance structures that require specialized payment solutions, not one-size-fits-all tools built for retail environments. 

Retail transactions are built on clarity and predictability. A customer knows what they are buying, sees the price upfront, and pays before leaving the store. The transaction is simple: one buyer, one seller, and one instant payment. 

In healthcare, care comes first and financial details come later. Patients are often treated in urgent or stressful situations, without the time to review prices or compare options. What seems like a single visit can involve multiple departments, providers, tests, medications, and procedures. Each step creates its own documentation and cost. After the visit, billing continues behind the scenes through coding, claim submission, insurance review, and coverage adjustments. Insurance companies may request more information, apply coverage rules, or issue partial payments. Providers may need to correct or resubmit documentation. The final balance can change weeks after care is delivered. 

Because healthcare involves multiple participants, strict data regulations, and fluctuating responsibilities, payment systems cannot mimic the retail experience. The goal is not to copy retail, but to make healthcare payments clear, efficient, and legally compliant within the realities of patient care. 

Why retail processors cannot support key healthcare workflows 

Retail processors are built for one-time, predictable payments. They cannot handle the complexities of insurance verification, copays, deductibles, claim adjustments, partial payments, or ongoing reconciliations. Compliance is another gap: HIPAA-level security, audit-ready reporting, and patient consent documentation are critical in healthcare but absent in retail solutions.  
 
When payment isn’t secured before treatment, the chance of collecting later drops by nearly 50%. Clinics don’t need to replace their systems. With Myriad MediPay you simply convert their existing retail payment agreement into a healthcare-specific agreement.  

Rate reduction myths in healthcare payments 

The hidden cost of low rates 

Some payment providers highlight reduced processing rates for healthcare transactions, but these numbers often reflect only part of the full payment process. Advertised rates may apply only to limited transactions, exclude key fees, or require long-term contracts with hidden conditions. 

Healthcare payments involve multiple payers, partial payments, insurance adjustments, and claim reconciliation. Low advertised rates often ignore the extra work needed to manage these processes. As a result, the true cost can be much higher than expected. 

In many cases, pricing messages focus on rate reduction without including healthcare-specific capabilities such as insurance integration or medical billing workflows. While a system may look simpler or lower cost at the start, the lack of specialized tools can lead to extra manual work, delays, and operational strain over time. 

What a healthcare-exclusive payment processor does 

A healthcare-exclusive payment processor is designed to manage the full financial workflow: patients, insurers, multiple payment sources and regulatory requirements. Myriad MediPay supports clinics at every step, including real-time eligibility checks, automated claims submission and reconciliation, accurate calculation of patient and insurer responsibilities, and HIPAA-level security. 

What changes when payments are built for healthcare

Built-in compliance workflows and patient option letters provide clear payment choices while protecting clinics from chargebacks and disputes. Pre-authorized healthcare forms simplify documentation, save staff time, and reduce administrative headaches.  
 
Printing and mailing statements, maintaining cards on file, and sending endless text-to-pay reminders can be costly and time-consuming. Myriad MediPay almost completely eliminates these burdens. Automatic posting eliminates manual data entry errors, and tailored healthcare rates prevent costly retail-style fees. 

Patients can pay in-office, online, via text, or through automated plans, removing friction and encouraging timely payments. Transparent billing, reminders, and online account access build trust and further improve cash flow. Reporting and analytics give clinics insight into payment trends, denials, and revenue performance, helping staff make smarter financial decisions while freeing them to focus on patient care. 
 
Healthcare payments are often treated as a clinic problem, but the real issue is the tool being used. Retail payment systems are designed for fast, final transactions, not regulated care and ongoing insurance adjustments. Myriad MediPay exists to close this gap, providing a healthcare-built system that protects compliance, improves collections, and creates transparency for patients from the first visit onward. 

Supporting the clinic’s mission

Beyond payments, Myriad MediPay helps clinics thrive by relieving the operational and financial pressures that often overwhelm private practices. By streamlining payments, reducing errors, and protecting against disputes, the system frees staff time, reduces stress, and aligns the clinic’s financial health with its core mission: delivering exceptional patient care. 

Take a hard look at your current payment system. Is it just processing transactions or is it helping protect the future of your practice? If not, Myriad MediPay offers a solution designed specifically for healthcare, simplifying billing, improving cash flow, and supporting patients and providers alike. The Healthcare Program simply converts your existing retail payment setup into a healthcare-specific one. 
 
Book a quick, no-pressure demo, and together we’ll explore why Myriad MediPay is the right fit for your practice.