Arizona Dentist Says: I Accept Bitcoin
With credit card fees typically around 3%, and with medical and dental invoices in the hundreds and thousands of dollars, Bitcoin payments make sense for medical offices, as the 3% in fees adds up quickly. As of today, next-block mining fees (highest possible priority; most instant type of transaction) are averaging about $.28, which is a lot less. For example, a bill for $500 would cost the office about $15 in credit card fees, whereas the mining fee to send $500 in Bitcoin would be $.15. It's not difficult understand why this option would pique interest as a method of payment processing in this industry.
This is just how Tempe, Arizona dentist, Dr. George Carr sees it as well. In the summer of 2017, Dr. Carr released a video announcing his office would be accepting Bitcoin, Ethereum and Litecoin as payment options for his patients (though now, Dr. Carr accepts approximately 10 different forms of cryptocurrency as payment). He was quoted by Fox10 Phoenix:
One of Dr. Carr's patients, David Freeman, said: "When I found out Dr. Carr was accepting Bitcoin, it was just kind of a fun, new way to pay him...I think there's obviously a pretty big gap between maybe the younger and older generation where they think this is smoke and mirrors like the Internet when it first came out as well"
Dr. Carr went on to say, "I can literally put the address on my website and say, 'Hey if you want to send me $100, a $1,000, a $100,000, just send it to this address and boom, it's there."
Though these payments in cryptocurrency can be quickly converted to fiat currency, Dr. Carr, like many others intrigued with the potential explosive increase in value, is holding on to his crypto-payments. Dr. Carr explains:
Dr. Carr's pioneering acceptance has garnered the interest of The American Dental Association, who reached out to Dr. Carr in an effort to teach other dental professionals the value and risk associated with accepting digital currencies. We will follow up on this as we are psyched to see the opportunities which may open up from the interest of such a large and influential organization.