Increase Profitability In Your Veterinary Practice With Cash Discount Program
By Cash Discount Program on August 17, 2023
The first business day of the month has arrived once again, and with it, a steady stream of clients enters through the front door. You are, thankfully, busier than ever, healing their beloved furry friends. But then you notice that thousands of dollars have been deducted from your bank account…again. It’s a familiar but bothersome line item: Credit Card Processing Fees.
“I didn’t start my own business so I could feel trapped like this.” You start wondering if you have any other options. The good news is that your practice is operating during new and exciting times with tools that enable you to keep more of your revenue in your pocket, where it belongs. These tools are legal programs called: Cash Discount Program, Surcharge Program, or Dual Pricing. At least one of these programs is available, compliant, and allowable in your location, which means that you could dramatically increase your bottom line, and eliminate your merchant service fees, simply by implementing the program that works best for you.
What are the differences between Cash, Surcharge, and Dual Pricing Programs?
Cash Discount Program
Your posted price for goods and services is the higher (card) price. A discount is provided if a client pays by cash or if you accept checks
Dual Pricing
Similar to the above and much easier to implement, two prices are presented to the client: A cash price and a card price.
Surcharging
This program is restricted in some areas and is also what people who don’t understand the regulations often refer to as “illegal.” Surcharging is actually legal in most states and allows a business to communicate that there is simply an additional fee added when a credit card is used. Surcharging specifically caps the fee that can be charged and does not allow any debit cards to be charged a fee
Which Program Should I Choose?
Each program will eliminate credit card processing fees. At the Cash Discount Program, we have repeatedly saved happy and thriving practices over $3,000 per month…that’s more than $36,000 per year. If you’d like to save this much in your business, call us today at (877) 261-5436 or fill out our online contact form.
This may seem like a no-brainer, right? Of course, until you consider the looming question: “How will my clients respond to this?” Our experience (explained to us by Veterinarians using our programs) is that clients almost always accept the fee and will simply pay in cash if they don’t – just read some of our testimonials, they speak for themselves! The truth to the matter is that owners prioritize their pet’s health and well-being and they understand that these feeds routinely appear in other industries.
Gas stations, hair salons, nail salons, restaurants, municipalities, and many other businesses have passed on a fee to cardholders in some way for years. Therefore your client is already paying a fee to use their card in a wide variety of places. In addition, there is a deep trust built between you and your clients. You know the animal’s history, built a relationship with their owner, and they are comfortable with you. Paying a small fee (especially one that allows your practice to thrive and offer stellar treatment) is a price they’ll be more than willing to pay for using a credit card.
Tired of having thousands of dollars taken from your bank account every month? Then consider one of the programs mentioned above. Savings range between 75-100% of merchant service costs. We specialize in working with Veterinarians nationwide, and after implementing each program above countless times, you are certain to be thrilled with the results.