The DOC Podcast

In this episode, I interview Matt Rej, Partner with Merchant Cost Consulting (MCC).  Matt and his colleagues started MCC to help doctors save money on their credit card processing fees.  He and I discuss:
  • The dirty secrets of the CC processing industry, including how they generate extremely high profits off the backs of dental and medical offices.
  • What is considered a good target percentage of CC processing fees that your practice should be paying.
  • Which CC processing rates can be negotiated and which cannot.
  • What the CC processing industry considers a “stick account” and why you don’t want that to be you.
  • The fact that your PM software company is likely getting kickbacks from the CC processing company, which increases the fees you pay.
  • How to receive a free analysis of your CC processing fees.
  • The difference between the services offered by MCC and standard CC processing companies.
  • Why you may even be eligible for a refund from previous egregious fees.
  • How to save tens of thousands of dollars each year on your CC processing fees without having to change providers/terminals.  
  • How MCC gets paid.
  • The importance of maintaining PCI compliance and how MCC can help do it for you as part of their services.
  • If MCC can work with practices that are part of a DSO/OSO.
  • Real examples of practices that Matt and MCC saved dental practices tens of thousands of dollars by renegotiating their CC fees.
LINKS:
-Email Matt: Matt@merchantcostconsulting.com
-Partners Page on MCC website: https://merchantcostconsulting.com/partners/
-Episode with John Vento, CPA, CFP: https://youtu.be/1-EXO-IlQgs?si=2jIspKkZajqJKrXw
-Episode on budgeting: https://youtu.be/d31JwW_Ucmw?si=jQHDaMmUqpKkIJtX

What is The DOC Podcast?

The DOC Podcast brings you unique educational content taught by Dr. Mike DeLuke, a Board Certified Orthodontist with over 20 years of clinical and academic experience. Dr. DeLuke built his orthodontic practice from scratch in the early 2000s and grew it into a multimillion-dollar enterprise in less than 10 years. He was able to retire from private practice at the age of 46 years old, and now devotes his energy to teaching his colleagues how to succeed both personally and professionally.

Dr. DeLuke has served as a faculty member at numerous hospitals and orthodontic residency programs around the country, including as the cleft craniofacial orthodontist at Albany Medical Center in New York, and as a clinical professor at The University of Connecticut in the Department of Orthodontics. He is presently an adjunct professor at Nova Southeastern University in the Department of Orthodontics.

The DOC Podcast will bring you in-depth discussions and interviews with industry leaders and experts on a variety of topics including clinical excellence, practice management, finance and wealth creation, health and wellness, taxes and accounting, fitness, and much more!