Take Control of your Veterinary Practice's Operating Costs

December 16, 2016
VMD Staff

Camala Bailey, CPA, CVA, at Camala C. Bailey, CPA, PC, discusses how veterinarians can reduce their fixed expenses.

Camala Bailey, CPA, CVA, at Camala C. Bailey, CPA, PC, discusses how veterinarians can reduce their fixed expenses.

Interview Transcript (slightly modified for readability)

“If you’re looking to control your fixed expenses, which are also known as your operating costs, one method that I suggest is you take a look at merchant fees. Merchant fees can be very significant, anywhere from 2 percent on up. And when I say 2 percent, that’s of your gross revenue. What I suggest is, first of all you train your front desk to make sure that when they are charging a credit card, that they check to see that it’s a debit or a credit. There’s a significant cost savings if it’s charged as a debit. The other idea is to shop your merchant services. There’s a vast difference between merchant carriers, and you want to make sure that you’re using the least expensive one out there.”