As a cost-conscious medical professional, you’ve done the math time and again only to come to the same conclusion that it’s too expensive to attempt to minimize processing costs at your medical practice. Credit card fees seem astronomical and new equipment or software comes at a cost. But, did you know that there are far greater benefits to your business than there are disadvantages if you start to accept credit cards with a provider like Payline Medical? Consider the following when searching for healthcare payment solutions that will help your practice thrive.
Understand Your Fee Structure
There are some fees that are completely unavoidable when it comes to accepting credit cards at your practice; there are also fees that might be unnecessary that certain processors may try to charge. These fees may seem like nothing on a processing statement but over time can add up to something that could hurt your chances of success. Read our blog about the fees you may be overlooking on your processing statement to learn about the importance of speaking with a processor who will go through your statement line by line and explain what each charge means for your business.
Buy Your Equipment
Purchasing your own terminal or equipment to accept credit cards will be easier on your business costs in the long run. Processing equipment is reasonably priced, especially with the introduction of mobile readers and eCommerce methods for businesses to accept credit cards. From standard payments like credit cards and checks to new ways to pay like Apple Pay™, Payline Medical gives you a full range of payment acceptance options so taking most forms of payment isn’t such a pain on your practice.
Take Steps to Prevent Chargebacks
Chargebacks are one risk associated with accepting credit cards at your business and could end up costing your business a high amount of fees. The first step to mitigating this threat is to seek healthcare payment solutions like Payline Medical that will provide you with the tools you need to prevent fraud occurrences at your business.
Do Your Research On Healthcare Payment Solutions
Sure, a lot of what you see on a credit card processing statement is determined by an issuing bank or credit card brand association. Other fees (service fees, leasing fees, inflated monthly fees) are charged by the payment processor and can be avoided – if you shop around. It’s crucial that you look for a processor that offers zero hidden fees, no contracts, and no cancellation policies. Focus on the big picture when you’re shopping around for healthcare payment solutions to help your practice grow. Payline helps their medical professionals understand processing fees and avoid pesky charges that other processors may charge your practice.
Taking the time to do the research on processing providers can help your practice save money on what can be a positive investment for your future. Payline Medical helps you do just that by offering low, cost-plus pricing with no monthly or hidden fees, allowing you to better manage the costs of running a thriving practice.