Providers: Frequently Asked Questions

Q: What is the SmartHealth PayCard Mastercard®?

A: It is a credit card designed to empower healthcare providers (including veterinary clinics) to collect payment in full for services provided without incurring additional fees to your practice.

We have an Express Approval process that provides your patient access to a revolving credit limit of up to $30,000 within a few minutes of approval.

A virtual card is emailed to approve applicants, so they can access the line of credit to get the healthcare they need, even when the need is quite urgent.

Q: Why should I offer SmartHealth PayCard instead of other patient financing options?

A: The SmartHealth PayCard sets itself apart by improving your business operations and patient experience in many ways:

  • No fee for healthcare providers.
  • Eliminates the need to rely on costly collection services.
  • Lowers patient default and bad debt.
  • Allows you to spend more time treating patients and less time on billing and collections.
  • Reduces administration time and expense as well as the uncomfortable need to constantly remind patients about paying.
  • Improves cash flow with fewer accounts receivable.
  • Enhances your patients' experience by providing them with the means to immediately pay for your services, offering a solution in their time of need (especially unexpected costs).

Q: Why would my patients want a SmartHealth PayCard when they already have a credit card?

A: Many reasons. Here are just a few:

  • SmartHealth PayCard is more than a credit card. We are a financial solution for healthcare expenses that is pre-bundled with unique healthcare benefits you wouldn't expect from a credit card.
  • There are no surprise "balloon payments" or surprise interest increases, like they might experience with some term loans or other financing options. Our APR will never exceed 18%.
  • SmartHealth PayCard enables them to keep their primary credit line focused on covering necessities like groceries, utilities, and non-healthcare expenses.
  • The SmartHealth PayCard can be a financial safety net for their entire family's day-to-day health needs and in case of medical emergencies.
  • SmartHealth PayCard is more than a credit card. We are a financial solution for healthcare expenses that is bundled with unique healthcare benefits you wouldn't expect from a credit card.
  • There are no surprise "balloon payments" or surprise interest increases, like they might experience with some term loans or other financing options. Our APR does not exceed 18%.
  • SmartHealth PayCard enables them to keep their primary credit line focused on covering necessities like groceries, utilities, and non-healthcare expenses.
  • The SmartHealth PayCard can be a financial safety net for their entire family's day-to-day health needs and in case of medical emergencies.

Q: What is the APR?

A: The APR is does not exceed 18%.

Q: Is there an annual fee?

A: Yes, the annual fee is $120. At no additional cost, the cardholder and their immediate family members receive $5,000 accident medical expense insurance, $5,000 accidental death insurance, and a prescription savings program with discounts up to 85% on medications.

Q: What is the minimum patient FICO score for approval?

A: The minimum FICO score for approval is 620.

Q: Is there a minimum yearly income requirement?

A: Yes, to be approved, the applicant must have a minimum of $30,000 annual income.

Q: Do you have a variable (lower) interest rate for higher FICO score patients?

A: All approved applicants receive an interest rate of 18%, regardless of FICO score.

Q: What is the minimum monthly payment?

A: A minimum monthly payment of $30 or 3% of the account balance, whichever is greater, is required.

Q: How quickly do healthcare providers receive payment?

A: When patients use their SmartHealth PayCard to pay for medical expenses, the provider receives payment immediately, just like accepting payment for a Mastercard. Transactions can be tracked through your online account.

Q: Do providers pay any fees to accept the SmartHealth PayCard?

A: No, SmartHealth PayCard had no hidden fees for providers. Mastercard fees still apply according to your merchant agreement with them.

Q: Is there recourse back to the provider for patient non-payment?

A: No.

Q: How do interested patients apply?

A: It's simple! You just provide the applicant your customized URL (ending with your 8-character "Application Code") and have them complete the application themselves. It takes only a few minutes to complete the online application.

Q: How soon will an applicant learn if they are approved?

A: With our Express Approval process, applicants receive a response of approval or decline within minutes, upon submission of the online application. This can be done while they are still in the office, at point of care, or while meeting with your finance team.

Q: How does my patient pay within a few minutes of approval?

A: The cardholder will receive a virtual card via email within minutes of application approval. A security code will be sent via text message to the cardholders' phone. This security code will need to be used in combination with the emailed link, in order to access their virtual card number and CVV code.

You can accept the virtual card number and CVV following your "card not present" process, similar to when you are accepting a payment over the phone.

Q: So, a cardholder can begin treatment right away, even before they get their physical SmartHealth PayCard?

A: Yes, the virtual card will work for payment the same as a plastic card. You can accept the virtual card number and CVV following your "card not present" process, similar to when you are accepting a payment over the phone.

Q: If the cardholder has traditional insurance, do I still need to contact their insurance company to check and see if the deductible has been met or if payments made have been applied towards their deductible?

A: Yes, just like you would be accepting a traditional credit card for payment. Please submit claims to their appropriate insurance company, if applicable, to determine if the deductible has been met and what out of pocket expenses can be anticipated. The cardholder can pay out of pocket expenses using their SmartHealth PayCard Mastercard®.

Q: How do I become a participating provider?

A: Email us at ProviderInfo@SmartHealthPayCard.com or call our VP of Sales & Business Development, Jim Tokarczyk, at 214.457.2815.

Q: Whom should I contact if I have more questions about offering the SmartHealth PayCard through my practice?

A: Here are several options:

Q: What kind of training do you provide for my staff?

A: Our account managers will provide you with an orientation and train you and your employees via a video or zoom session.

Q: How do you handle customer service questions from my patients?

A: If your patient is a cardholder, and account-related information is needed, please have them call our 24-hour customer service line: (866) 276-5606.

If your patient is a cardholder, for any questions about cardholder benefits, please have them contact us at (833) PAY-SMART (833-729-7627).

If your patient is a cardholder, and needs information the SmartHealth Rx Prescription Savings Program, please have them call 877-643-2067.

If your patient is not a cardholder yet, for general questions, please have them contact us at (833) PAY-SMART (833-729-7627).