Balance is a PCI and HIPAA-compliant solution that helps health care professionals with patient responsibility billing. Balance makes it easy to send out payment requests to patients by text, improving collection rates and cash flow, while simultaneously providing patients with a modern and secure payment experience.
Who is Balance for?
Balance was built for the health care industry and their billing staff. It can be used by solo practitioners, group practices, dentists, optometrists, physical therapists and other health care disciplines where patient responsibility billing is a factor.
How is Balance better or easier for my patients?
In today's day and age, many consumers don't regularly write checks or even have stamps on hand. As a result, it's not easy for them to mail in payment for pay paper bills that they receive in the mail. And with rampant fraud and identity theft, many consumers are concerned about writing credit card information on to invoices or giving card details over the phone.
Consumers love the convenience of text messages on their phone. Over 90% of text messages are opened within 30 minutes of receipt, and over 70% of Americans prefer to pay with a digital wallet such as ApplePay or GooglePay. Balance makes it fast and easy for your patients to receive their bill and pay directly from their mobile phone with a digital wallet or any payment card in about 30 seconds.
Is Balance HIPAA compliant?
Balance is HIPAA compliant and we have a Business Associate Agreement (BAA). When you sign up for the free 30-day trial with Balance, you'll automatically agree to our Terms of Service, Privacy Policy, and BAA.
How do I sign up for Balance?
If you are a health care provider, you can sign up for a free trial. There is no credit card required, you can cancel anytime, and there are no setup or upfront fees. You'll be asked to provide your name, email, and practice name and phone so that we can review and approve your account. Pending approval, you will receive a link to connect your Balance account with Stripe for processing patient payments followed by instructions for how to configure your text message preferences. The activation process is simple and only takes about 5 to 10 minutes to complete. If you choose to continue using Balance after your free trial period, we offer three different plans on our pricing page.
Can I get a demo before signing up?
Absolutely! Please reach out to us via our demo request form and we'll be in touch to schedule a meeting.
What is Stripe payment processing?
Stripe is a leading financial infrastructure company that powers online payment processing solutions for businesses. Balance has integrated with Stripe to provide an integrated, secure, and easy-to-use HIPAA and PCI-compliant payment processing solution for health care providers. The Balance integration with Stripe enables providers to send payment requests instantly to patients by text. Patients can pay effortlessly on their mobile phone with ApplePay, GooglePay, or any credit card. Received payments are automatically deposited into your linked bank account.
How long does it take to receive deposits?
Typically, when you first start processing live payments, Stripe schedules your first payout for 7-14 days after you receive your first payment. This initial payout timing is decided by Stripe and is determined based on their merchant onboarding and risk management models. Balance has configured Stripe to send you payouts on a daily rolling basis following the initial payout from Stripe.
How much does the payment processing cost?
For ApplePay, GooglePay and domestic cards like Visa, Mastercard, American Express, and Discover, the payment processing cost is 2.9% + 30¢. This means for a $100 payment, the Stripe processing fee will be $3.20 and you will receive $96.80. International cards incur an additional 1.5% fee, and an additional 1% if currency conversion is required.
How much does Balance cost?
To meet the needs of solo practitioners, small groups, multi-location practices, we provide three different plans. View our pricing page for all of the details.
What happens after the free trial?
At the end of trial, to continue to use Balance you will need to subscribe to a paid plan. All of the data generated during the trail will be saved and will be available in your dashboard. If you do not sign up for a paid account by the end of your trial period, your trial account will be deleted along with all of the data that was entered or created. This is required to meet security and compliance requirements.
