Save Money on Credit Card Processing

By Keith Drayer, Vice President of Henry Schein Financial Services

Accepting credit and debit cards has become a necessity for dental practices. Patients increasingly want to pay their bill by credit or debit card because of the ease, convenience, ability to better manage their finances, and the opportunity to earn points, miles, and other rewards. There are many benefits to accepting credit and debit cards including increased cash flow, reduced collections, and improved staff productivity.

However, one area where practices often overpay is credit card processing. Many payment processors claim to offer the lowest rates, but often charge hidden fees or offer low rates initially, but increase them over time.

One way to ensure you are not overpaying to process credit cards is to look for companies that offer a rate guarantee.

Henry Schein Financial Services works with Moneris Solutions, offering a $500 rate GUARANTEE. If you want to save money on your processing costs, simply provide us with three months of statements from your current card processor. Moneris will analyze the statements and determine what the practice is truly paying to process each transaction—a cost known as the “effective rate.” If Moneris can’t beat or at least meet that rate, they will post a $500 credit to the practice’s Henry Schein account that can be used to offset any Henry Schein purchase. There is no cost for the analysis and there’s no obligation to sign with Moneris afterwards. Moneris has already saved many Henry Schein customers hundreds and even thousands of dollars a year on their payment processing, including Dr. Martha Villasenor of Woodridge, IL.

“My Henry Schein and Moneris reps encouraged me to obtain a processing statement to see if they could save me money on the monthly credit card rates and fees. I am very happy they did because my current bank was not even sending me a statement each month. I had no idea how much I was being charged. When we finally obtained a statement, Moneris was able to save me well over $143 per month! Thanks again to Henry Schein and Moneris for helping me save money and lower those fees!”

Heather Haught, Office Manager for Blackman and Bliss DDS, also signed with Moneris once she saw how much money her practice could save.

“In May 2013, our Henry Schein rep told us about Moneris Solutions. After learning of the savings our office could receive, we immediately switched our credit card processing to Moneris Solutions. We are very happy with the savings we see each month due to the lower rates Moneris provides. When our Web site is completed, we will be switching our online payments over as well. I would recommend this service to any dental practice or business.”

Henry Schein Financial Services is committed to matching or improving your current transaction rates and providing you with quality customer service. Contact HSFS at (800) 443-2756 or hsfs@henryschein.com for more information.

About the Author: Keith Drayer is Vice President of Henry Schein Financial Services (HSFS). HSFS helps health care practitioners operate financially successful practices through our diversified suite of financial and business resources. HSFS’ portfolio of resources is designed to give our customers the financial advantage critical to success in today’s changing marketplace.