Abstract
Dental practices have seen a significant increase in credit card payments, with the average monthly amount rising from $30,876 in 2019 to $44,925 in 2023. This shift, accelerated by COVID-19, has impacted profitability due to higher processing fees, which increased from 3.06% to 3.53% over the same period. Despite raising prices to counter inflation, the average transaction size has not kept pace with the overall economic inflation rate. Dental practices are encouraged to periodically review their payment processing costs to ensure they are not adversely affecting their bottom line.
Recommended Citation
Nieto, Phil
(2024)
"PAYMENTS IN THE PRACTICE WHAT TRENDS ARE AFFECTING YOUR BOTTOM LINE,"
Virginia Dental Journal: Vol. 101:
No.
2, Article 12.
Available at:
https://commons.ada.org/vadentaljournal/vol101/iss2/12