Discover the best banking options for dermatology practices — from managing insurance reimbursements and EFT enrollment to multi-location cash flow. See why dermatology groups choose Lemma.
Dermatology is two businesses in one practice. Banking built for dermatology practices (opens in a new tab) keeps cosmetic and medical revenue cleanly separate, which matters more than yield. Here's why.
Dermatology is two businesses in one practice. Medical derm bills insurance like the rest of healthcare. Cosmetic derm operates more like retail with cash pay, package pricing, financing platforms, and product sales. The financial layer that supports both at the same time has to keep them visible separately or your P&L is just a soup.
Most banking platforms collapse them. The right one keeps them clean.
Big banks: branches, generic, no derm-aware tooling.
Fintech banks: clean dashboards, free ACH, no ERA matching, no MSO-PC structure support.
Lemma: ERA 835 matching, virtual accounts for cosmetic vs medical revenue separation, financing platform settlement visibility, multi-entity onboarding in 5 to 10 days, 1.75% APY, $10M FDIC per entity.
3-derm group, $4M annual collections (60% medical, 40% cosmetic), $700K operating cash, MSO-PC structure with separate cosmetic PC, 200 ERA files monthly, 50 paper checks (insurance + product vendor refunds).
On a generalist bank: 30 hours/month manual ERA matching ($12,600/year), a separate lockbox vendor (opens in a new tab) at $4,800/year, $2,000/year ACH, 0% APY. Plus the cost of manually separating cosmetic vs medical revenue in QuickBooks (5 hours/month, $2,100/year). Net friction: $21,500/year.
On Lemma: $0 ACH, automated ERA, included lockbox, 1.75% APY on $700K ($12,250/year), automatic cosmetic vs medical separation. Annual swing: roughly $33,750.