For your medical practice to accept debit and credit cards, you’ll need to choose the between credit card processing companies. While this does come with some upfront costs and ongoing fees, being a cash-only practice is not realistic in this day in age. Almost every client will pay with a card, so choosing the right credit card processing agent is an essential step for your practice.
Fees and Costs
There are usually a few credit card processing fees charged by your payments company, so before choosing your agent, you must understand all of the fees and service terms. Some of the main credit card processing fees include interchange fees, monthly statement fees, application and setup fees, a monthly minimum fee, a monthly gateway access fee, and an early termination fee. With all of these fees, it’s crucial to understand them all ahead of time to make the right choice between companies.
Find out how long the payment processor will take to set up an account, and install the equipment so your practice can plan accordingly. You want something that will be easy for your medical staff to set up, but if it seems like it may be difficult, ensure that you’ll be provided with help and support when needed. A payments processor with 24/7 customer support is the best option, as you never know when you will have technical problems or questions about fees. Helpful customer support is often worth spending a little more money, as they will always be reliable and keep your practice running smoothly.
For a medical practice with many clients, you’ll want to have a payments processor that accepts all major credit and debit cards. You should never have to turn away a client because your payment processor won’t accept their card- that’s unacceptable. Also, for practices that provide gift cards, such as a plastic surgery practice, you may want a system that accepts prepaid cards and gift cards.
Grow Your Medical Business With Hyperion Consulting Group!
Interested in growing a medical practice? Contact Hyperion Consulting Group today! With over 25 years of experience and knowledge in the medical and business worlds, Hyperion Consulting Group provides medical facilities the unique opportunity to assess how they are doing currently and preparing them with tools to growth. Contact us today! You can reach us at 443-752-2524,or visit our website for more information. If you are interested in reading more about medical consulting check us out our Facebook page and follow us on LinkedIn.