Today, more than ever, people prefer to pay using credit and debit cards rather than cash or check. As a doctor or a dentist, this adds to the cost of processing payments, which makes finding a company offering low cost credit card processing a must.
However, at the same time, it is essential to avoid losing out on security, technology or customer service with the lowest transaction cost. To ensure this doesn’t happen there are a few simple factors to keep in mind when looking for a new or replacement credit card processing service.
Choose a Specialized Company
For a medical or dental office, choosing a general credit card processor is not going to result in the lowest possible transaction fees. Additionally, many customer service departments are not aware of the issues of billing in the medical and dental field, and their customer support will be limited at best.
Instead, choose a specialized low cost credit card processing service working within the medical and dental billing field. There are companies that only processes credit card transactions from healthcare practices. These services offer the best of both worlds with lower transaction fees and highly experienced support based on specific challenges your staff may be experiencing.
Low Fraud Rates
While stolen credit and debit cards are often used at retail outlets or for over the phone transactions, they are very rarely used at medical or dental practices for payment.
This means that a specialized medical and dental card processing company has very limited risk in accepting these types of payments. This, in turn, means a lower rate simply because of the lack of fraudulent activity in these credit and debit card transactions.
Additionally, it is very uncommon for a customer to attempt a chargeback after receiving medical or dental care. With the record keeping at medical and dental offices, these claims are extremely unlikely to be found to have merit as the credit card processor will be able to provide the information needed from the medical or dental practice to avoid the issue of a fraudulent attempt at a chargeback.
There are advantages to working with a specialized medical and dental low cost credit card processing service that are not available through general credit card processing companies. Spend some time and consider the differences; you will be glad you did.