For telehealth and pharmacy platforms in the publicly traded DTC telehealth category.
Hims and Hers Health is a publicly traded DTC telehealth platform (NYSE: HIMS) offering FDA-approved and compounded medications across weight loss, HRT, sexual health, dermatology, and mental health. Their compounded GLP-1 offering entered the market after the FDA de-shortage.
Publicly traded DTC telehealth at Hims and Hers scale operates on direct merchant account infrastructure across multiple MIDs by product category. FDA-approved product boards at MCC 8011 or 5912 with lower reserves. Compounded product boards separately with individualized-prescription documentation and higher reserves. LegitScript certification is table stakes.
If you operate a Hims-style multi-vertical DTC telehealth platform, the placement path is a multi-MID structure separating FDA-approved from compounded product, each with the correct MCC and its own LegitScript posture. This isolates VAMP monitoring per vertical and prevents a compliance event in one product line from affecting the others.
MCC 8011 primary, MCC 5912 for pharmacy-of-record dispensing arm. Aggregator misclassifications (MCC 5734 computer software, MCC 5967 direct marketing) are what trigger post-boarding flags.
LegitScript healthcare merchant certification plus internet pharmacy certification for the dispensing arm. Certification runs 4 to 8 weeks with a complete packet. Clay Pay coordinates the application in parallel with the merchant account application.
Typical reserves 3 to 8 percent for FDA-approved MIDs, 8 to 15 percent for compounded MIDs. Stripe migration recovery 70 to 85 percent MRR within 30 days per MID on Stripe migration, plus 5 to 10 percent additional in months 2 and 3 via smart retry logic.