How to use Tyro Health’s Multi-merchant functionality with Zedmed to support your practice operations

Being heavily involved with experts in health payments and claiming such as Tyro Health, we 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:  

  1. Practice owners contract with each independent provider, and settlements are paid to the individual bank accounts of that provider, and  
  2. Practice owners employ providers and use a central bank account where all funds settle centrally. 

Multi-merchant 

Multi-merchant could be a useful feature for you if you have a medical practice with multiple doctors or a mixed allied clinic with multiple providers. With this feature, an unlimited number of provider accounts can be linked to an EFTPOS device. With different fee structures available.   

This means payments are processed against each provider, and then settled to their nominated bank account. Tyro Health has a convenient solution that integrates with our Zedmed software to streamline transaction processing for practice staff at no extra cost to a practice or providers.    

Tyro Health Multi-merchant 

Once Multi-merchant is enabled:   

  • The business of each provider is set up as a unique Tyro customer, 
  • A shared 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,  
  • 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 fees; or  
  • You may choose to have all the fees debited from the Practice account and an invoice will be issued to the Practice MID (Merchant ID).    

Simply put, Tyro Health Multi-merchant means operating one EFTPOS device, with many providers. It also gives control of where Tyro’s fees are debited from and access to the Tyro Merchant Portal  

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 EasyClaim¹ 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 HealthPoint² can be configured such that each provider can be paid to any bank account they specify on provider activation forms.  

How to get started with Multi-merchant? 

Getting started with Multi-merchant by Tyro Health is as simple as following a few steps. 

  1. Contact Tyro Health to discuss setting up your practice with Multi-merchant capability. More information on set-up options and how to contact Tyro Health can be found in their dedicated Help Article. Their team will guide you through the process. 
  2. Visit our Set up Tyro help article and review the Multiple bank accounts setup section to enable your updated account configuration.    

If you want to learn more about Tyro Health’s Multi-merchant feature, click here

1   Medicare Easyclaim is only available where your third-party software or practice management system supports the integration. You should make your own enquiries in regards to this. 

2   Tyro HealthPoint requires a fixed ethernet connection using a CounterTop EFTPOS machine, and integrated PMS partner which supports Tyro HealthPoint or an integration to Tyro Health Online. 

Tyro Health Pty Ltd ABN 21 615 345 536 (Tyro Health) is a wholly owned subsidiary of Tyro Payments Limited ACN 103 575 042 AFSL 471951 (Tyro). Tyro is the issuer of its own financial products. As Tyro does not take into account your personal circumstances, please consider if these products are suitable for you. Tyro may pay financial benefits and/or referral fees to our partners.

Last updated: 31 January 2024

Related News

Is Cloud-Based Practice Management Software Secure? [2024 Analysis]

Elevate practice security by exploring cloud-based practice management software. Automated updates, robust encryption, segregated data & more

More Info

Demystifying Medical Tech: EMR vs. EHR vs. PMS – What’s the Difference?

In this article we break down the differences between what an Electronic Medical Record (EMR), Electronic Health Record (EHR) and Practice Management Software (PMS) is.

More Info

Secure Messaging: The Backbone of Modern Healthcare Communication

Secure messaging facilitates the exchange of critical information like clinical documents, referral requests, & direct patient communication.

More Info

Zedmed Integrates with HealthShare and SR Specialists & Referrals

Zedmed announces two new integration partners which makes it easier than ever before to send referrals and e-referrals.

More Info