Evaluating Credit Card Merchant Services


Not all credit card or debit card payments are the same, and when it comes to handling payments for medical practices having the best service possible is essential. Choosing credit card merchant services specializing in solutions for the medical and dental community will help to increase the options for accepting payment at the time of treatment, which in turn leads to lower costs in patient billing.

For any medical or dental professional or group searching for the best credit card processing option, knowing what factors to consider will be essential. Researching the credit card merchant services under consideration and comparing the features and value-added components of each is the most important first step.

Leaving a Current Provider

For an existing medical or dental practice, is it highly likely there is already a credit card processing company in place. Talking to a potential new credit card processing service should include a discussion about refunding or compensating for any possible termination fees the practice may be facing with the change in processors.

Many of the best credit card processes specializing in payment processing or the medical and dental industry are able to offer a complete refund of any termination fees associated with closing the current account. This can add up to a refund of hundreds of dollars, which is certainly worth asking about.

Processing Fees

With standard credit card merchant services the fee per transaction is typically much higher than with a specialized card processor in the medical and dental field. This is because of the risk, fraud and default issues found with other types of businesses that the general business credit card processor supports.

By working exclusively with healthcare professionals, which are very stable and secure businesses, there is less risk for the card processor. This, in turn, translates into lower fees, providing the practice with greater net income from each transaction.

Customer Service and Support

While fees and costs are certainly the most obvious issues to consider, another equally important factor is the level of customer service the credit card processing company offers.

The best companies will provide training for staff on enhancing customer payment, in understanding how to use the system and in addressing possible issues with customer chargeback or other processing concerns. These little extras are not something that a practice needs every day, but they are certainly important when they do arise and require immediate support and assistance.