Estimate your dental payment processing costs: Try QuantaPay’s calculator

Accepting patient payments is a routine part of running a dental practice, but the fees associated with processing those payments can add up quickly. Between credit card transactions, debit card payments, and other processing expenses, it can be difficult to know exactly how much your practice spends to collect payments.

Many practice owners know they pay processing fees but may not know how much those fees cost over a full year or how they affect profitability. Even small differences in processing rates can make a noticeable impact when your practice processes thousands of dollars in patient payments each month. 

The good news? You don't have to guess. QuantaPay’s payment processing calculator gives dental practices a quick way to estimate their monthly and annual processing costs, compare pricing options, and better understand where their money goes.

Before you try the calculator, let's look at what goes into dental payment processing costs and why understanding them matters.

Key takeaways: QuantaPay's dental payment processing calculator 

• Dental payment processing costs depend on transaction volume, payment methods, processing rates, and additional fees, making it important to understand your total expenses.

• QuantaPay’s payment processing calculator helps dental practices estimate monthly and annual costs and compare standard pricing with QSave.

• Understanding your processing costs can help you evaluate payment options, identify potential savings, and make informed financial decisions for your practice.

Pinpoint your dental payment processing costs

Dental payment processing costs include the fees a practice pays to accept credit and debit card payments, whether patients pay at checkout, online, or through another payment channel. These costs can vary based on your transaction volume, the types of cards patients use, your processor's pricing structure, and any additional service fees.

Understanding these expenses starts with knowing what you're paying for.

Credit card processing fees

Credit card processing fees are typically calculated as a percentage of each transaction, sometimes with an additional per-transaction charge. The rate you pay may depend on the card type, how the transaction is processed, and your provider's pricing arrangement.

For example, a practice that processes $50,000 in credit card payments each month will pay $1,450 in processing fees at a hypothetical rate of 2.9%, before accounting for any additional fees. A seemingly small difference in processing rates can add up over the course of a year. 

That's why it's important to understand your effective processing rate, not just the rate advertised by your payment provider.

Debit card processing fees

Debit card transactions can have different processing costs than credit card transactions. The applicable rates depend on factors such as the processor, transaction type, and pricing arrangement.

Your practice may also accept payments using flexible spending account (FSA) and health savings account (HSA) cards. These payment types should be considered when estimating your overall processing expenses, since their costs may differ from those associated with credit card transactions. Knowing how much of your monthly payment volume comes from credit cards versus debit, FSA, and HSA cards can help you build a more accurate estimate.

Other fees to watch for

Processing rates aren't the only expenses to consider. Depending on your payment provider and plan, your practice may also pay:

• Monthly software or service fees: Recurring charges for access to payment processing software and related services.

• Terminal or equipment costs: Expenses associated with purchasing, renting, or maintaining payment terminals.

• Gateway and transaction-related fees: Additional charges that may apply to online payments, batch processing, or other transaction activities.

These fees can affect your total cost of accepting payments, even when your advertised processing rate seems competitive.

Related: Dental credit card surcharges: How to explain fees to patients 

Why payment processing costs matter for dental practices

Payment processing is a necessary operating expense, but that doesn't mean you should overlook it. As patient payment volume grows, processing fees can become a significant expense that affects your practice's financial performance.

Practices with multiple providers or locations may be especially affected because they often handle higher transaction volumes. Even a modest difference in processing costs can translate into meaningful savings or expenses over time. Understanding your payment processing costs can help you:

• Build more accurate budgets. Know what to expect each month and account for processing expenses when evaluating your practice's financial performance.

• Evaluate payment processing providers. Compare pricing structures and understand what you're getting for the fees you pay.

• Identify opportunities to reduce expenses. Determine whether your current arrangement is meeting your needs or whether another pricing model is worth considering.

• Make informed payment decisions. Evaluate options such as surcharging and other approaches to managing processing expenses.

The goal isn't necessarily to find the lowest advertised rate. It's to understand the total cost of accepting patient payments and determine which payment solution makes the most sense for your practice, your team, and your patients.

Try QuantaPay’s Payment Processing Calculator

How much does your practice actually spend on payment processing? QuantaPay’s calculator makes it easy to estimate your monthly and annual costs using a few details about your practice.

Instead of sorting through complicated fee structures on your own, you can enter your information, compare pricing options, and see an estimate of how processing expenses may affect your bottom line. Here's how to get started.

1. Enter your monthly card volume

Start by entering the total dollar amount your practice processes through credit and debit cards each month.

Your monthly card volume provides the foundation for your cost estimate. If you aren't sure of the exact amount, review your merchant statements or payment processing reports to get a reasonable figure. For the most useful estimate, focus on card payments rather than your practice's total collections, which may also include cash, checks, and other payment methods.

2. Select your state

Next, select the state where your practice operates.

Your location is an important consideration when evaluating payment processing options, particularly if you're considering surcharging. Applicable laws and card-network requirements can affect how surcharging is implemented, so it's important to account for location when exploring your options.

3. Choose your credit and debit card mix

The calculator also asks you to identify the percentage of payments your practice receives through credit cards versus debit, FSA, and HSA cards. If your practice receives roughly equal payment volume from credit cards and other card types, you can start with a 50/50 split. Adjust the percentages to reflect your actual payment mix for a more relevant estimate.

Why does this matter? Different payment types can have different processing costs. Understanding your payment mix helps you see how those differences may affect your practice's overall expenses.

4. Compare QuantaPay’s pricing options

Once you've entered your practice details, you can compare the available pricing methods and see how each one affects your estimated costs. The calculator lets you evaluate standard pricing alongside QSave, QuantaPay's surcharge option.

Standard pricing: Use standard pricing to estimate your processing costs under the standard model. This provides a point of comparison when evaluating your current expenses and other pricing arrangements. 

QSave: QSave offers another approach to managing payment processing expenses. Under this model, eligible credit card transactions are surcharged to patients, while the practice pays the applicable processing fees for debit, FSA, and HSA transactions. 

According to QuantaPay's calculator, QSave uses the following rates:

• Credit cards: A 2.89% surcharge is applied to eligible credit card transactions and paid by the patient.

• Debit, FSA, and HSA cards: The practice pays a 2.19% processing rate.

• Monthly fee: The calculator includes an applicable monthly fee in its estimate.

Read more: QSave 101: How dental credit card surcharging works from checkout to deposit 

The calculator uses your payment volume, state, and payment mix to estimate the costs associated with your selected pricing method. Compare the results to see how each option may affect your expenses. If you're considering QSave, also account for applicable surcharging requirements, patient communications, and how the approach fits your practice's payment policies.

Take the next step with QuantaPay

To recap, we covered: 

• Pinpoint your dental payment processing costs

• Why payment processing costs matter for dental practices

• Try QuantaPay’s Payment Processing Calculator

Understanding your dental payment processing costs is an important step toward making informed financial decisions for your practice. When you know what you're paying each month and how those costs add up over a year, you can better evaluate your options and determine whether your current payment solution meets your needs.

QuantaPay’s payment processing calculator makes it easy to get started. Enter a few details about your practice, compare pricing options, and see how different approaches could affect your estimated expenses.

If QSave looks like a good fit, you can select Get Started with QSave to begin the onboarding process.

Ready to see what payment processing could cost your practice? Try QuantaPay's payment processing calculator to compare your estimated expenses and explore which pricing option may work for your dental practice.