Our Studies show when a dental office seeks a merchant processing solution or they are contacted about potentially switching their solution, the most frequently asked frequently asked question is "What’s your rate?" Ever wonder how this question became the starting point for all negotiations?
Obviously, rate is an important component, but what we have found is that merchants have actually been taught to ask this question by sales reps. Inexperienced and untrained sales reps rarely do more than sell on rate, using rate as the chief motivating factor to get merchants to sign contracts.
If you ask for rates, savvy marketers will only be too happy to entice you with below-market gimmick rates designed to lure your business into a contractual obligation. These contracts may be long-term equipment terminal leases or multi-year processing agreements with stiff early-termination fees. Most merchants only paid attention to the qualified rate; therefore most merchant account providers have built expensive margins into their mid and non-qualified pricing.
PayConnect by dentalxchange.com has designed a very fair program that we strongly believe can help dental offices to save money on their merchant processing fees as well as giving them ability to run eligibility and benefits verifications for most major commercial payers.
Having more knowledge about what determines your rate and the fees that impact your bottom line cost.
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