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Virtual credit card fees amount to 3 to 5 percent of payments

from Physician's Briefing

Payment with virtual credit cards (VCCs) is associated with considerable fees, although physicians are often unaware of these charges, according to the American Medical Association. For each payment with a VCC, physicians are charged fees that typically amount to 3 to 5 percent of the total payment. In an informal survey of over 1,100 participants, more than two-thirds reported receiving VCC payments, and 86 percent showed that these payments increased over the last year. More than 40 percent of respondents were unaware of the fees involved. more

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