How much will a medical practice generally receive if a physician charges $100 for services and the patient pays by credit card?

Question

Quizplus · Accepted Answer

When a patient pays by credit card, the medical practice typically incurs fees for the transaction. These fees vary but can range from 1.5-3% of the transaction amount. Using the midpoint of this range (2.25%), the medical practice would receive $97.75 ($100 - $2.25) and the patient would pay $100. Therefore, the best choice is B, as the medical practice would receive between $95-$99.

How Much Will a Medical Practice Generally Receive If a Physician