Myths About Payment Processing Fees for Medical Practices – Debunked!

Payment processing fees can be a confusing and costly issue for medical private practices. With so much misinformation out there, it’s easy to fall into common myths that can hurt your bottom line. Let’s clear up the four biggest misconceptions and show how Merchant Match can help you navigate these challenges.

Myth 1: All Payment Processors Charge the Same Fees

Reality: Fees vary significantly between providers. For medical practices, where transaction sizes and volumes differ, understanding these fees is crucial. These processing fees can also drive up costs. However, Merchant Match can guide your practice to use a compliant surcharge program strategically, allowing you to pass on convenience fees to patients, which can actually help reduce or even eliminate processing costs for your practice.

Myth 2: Flat-Rate Pricing is Always the Best Option

Reality: Flat-rate pricing is simple to understand, but it’s not always cost-effective, especially for practices with high-value transactions. Merchant Match helps you explore other options like interchange-plus pricing, tiered pricing, compliant surcharge, and cash discount. We will guide you to find the option that best works for your practice to maintain transparency with patients and minimize fees.

Myth 3: Credit Card Processing Fees are Set in Stone

Reality: While some fees are fixed, the markup added by processors is negotiable. Medical practices with stable volumes are in a strong position to negotiate. Merchant Match leverages its expertise to secure the best rates for your practice and can offer solutions where patients cover the cost of convenience fees, reducing fees to near zero.

Myth 4: Hidden Fees are Inevitable

Reality: Not all processors engage in hidden fees, but it’s a common concern. Merchant Match ensures transparent pricing with no surprises. Merchant Match is up front with all charges prior to you deciding on a card processing service.

Conclusion

Don’t let myths about payment processing fees hold your medical practice back. Merchant Match is here to guide you to the best payment processing solution, ensuring transparency, compliance, and potentially zero fees by utilizing strategic compliance surcharges. If you think your business could get a better rate or is losing money on card processing, reach out to us at info@merchantmatch.net today for a free call!

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