Tyro Health offers a range of payment and claiming solutions, including Tyro EFTPOS machines and Tyro Health Online. This article specifically relates to Tyro’s EFTPOS offering.
Introduction to Multi-merchant
As leaders in health payments and claims, Tyro Health have seen practice owners and providers structure their business arrangements in a range of ways. Recently, there has been increasing interest in this topic, specifically related to payroll tax for practice owners. There are a number of ways that practice owners set up payments, including:
Practice owners contract with each provider who is independent and settlements are paid to the individual bank accounts of providers, and
Practice owners employ providers and use a central bank account where all funds from Tyro settle centrally.
While Tyro Health can support a range of models, we have developed Multi-merchant to specifically support model 1.
What is Multi-merchant?
Multi-merchant is a key feature of our EFTPOS solution, enabling practices to add multiple providers to a single EFTPOS machine. Payments are processed against each provider, and then settled directly to their nominated bank account.
Tyro EFTPOS Multi-merchant enables:
The business of each provider to be set up as a unique Tyro customer - unlimited number of health provider accounts can be linked to one EFTPOS machine.
A single Tyro EFTPOS machine can continue to be used to raise Medicare or Private Health Insurance claims against each provider practicing at that location.
Card payments processed on the Tyro EFTPOS machine can settle directly to the nominated bank account of that provider.
Streamlined transaction processing for practice staff at no extra cost to practice or providers.
Individual Tyro invoices for fees payable to Tyro can be sent to each provider just for their portion of card payments and also their portion of the EFTPOS machine rental.
Tyro EFTPOS machines also support scenarios where each provider in a practice and sharing a single Tyro EFTPOS machine can be independent with respect to Medicare and Private Health Insurance claiming:
Medicare EasyClaim and bulk bill claims submitted via Tyro EFTPOS machines do not require practice PRODA accounts; each provider can be paid separately or to consolidated bank accounts as specified on their Medicare provider activation forms (HW027) or HPOS configuration.
Private Health and Overseas Insurance Claims via HealthPoint can be configured such that each provider can be paid to any bank account they specify on provider activation forms.
Multi-ABN vs Single-ABN
Tyro EFTPOS customers have two ways that they can set up Multi-merchant. We have summarised the two methods, known as 'multi-ABN' (also known as "add account"); or 'single-ABN' (also known as "add settlement"), below:
Multi-merchant | Multi-ABN | Single-ABN |
Description | Each provider is established as a separate merchant on the Tyro EFTPOS machine against their individual ABN. | Multiple providers with unique settlement arrangements are added to the Tyro EFTPOS machine under the practice owner’s single ABN. |
Settlement | Settles to each provider’s bank account. | Settles to each provider’s bank account. |
Refunds | Refunds are part of the daily settlement position for each provider's bank account. | Refunds are part of the daily settlement position for each provider's bank account. |
Identity Verification | Identity verification is completed against each provider, as each provider is set up with their own ABN. | Identity verification is completed for the practice owner only and is not required for each provider. |
Cardholder Statements | A description for each provider’s business is presented on cardholder statements.
The cardholder statements from some banks may include the ABN (and other information) of each provider. | A description can be enabled for each provider on cardholder statements, which can reflect either the provider’s name or the practice name.
The cardholder statements from some banks may include the ABN (and other information) of the practice owner. |
Disputes & Chargebacks | Each unique ABN is responsible for disputes and funding chargebacks related to that account. | Notifications for disputes and chargebacks can go to either the provider or the practice owner, but funding chargebacks must come from the settlement account of the provider. |
Transaction & Settlement Visibility | Practice managers can be added as a guest admin in the Tyro Merchant Portal for each ABN with visibility to all grouped account transactions and settlements. Individual ABN providers cannot see transactions or settlements for other individual ABNs. | Practice managers and anyone else granted access to each providers account have visibility to all transactions and settlements for that provider account. |
Pricing | Pricing can be applied to the whole Multi-merchant group. | Pricing can be applied to the whole Multi-merchant group. |
PMS integration | A single PMS integration can support this model. | A single PMS integration can support this model. |
Invoicing | Invoices are raised against the ABN of the provider.
Each provider receives their own Tyro invoice for Tyro fees, under their own ABN. | Invoices are raised against the ABN of the practice owner.
A separate invoice for each provider is created, and this can be sent to either the practice owner or the provider. |
Learn more
It is important that you talk with your accountant about your business needs, and which Tyro EFTPOS option is right for you.
To learn more about how to get started with Tyro Multi-merchant for Tyro EFTPOS machines, please contact us at these addresses:
New Tyro EFTPOS customers contact us on healthsales@tyro.com
Existing Tyro EFTPOS customers please contact us on healthonboarding@tyro.com