Today, pharmacies must run a tight ship when it comes to their finances. Given ongoing PBM reform and fluctuating reimbursement rates, every penny counts.

Thanks to a new update from PioneerRx pharmacy software and Heartland, however, your pharmacy can have a little more control over your finances.

PioneerRx now allows pharmacies to pass on some or all of their credit card processing fees to patients. Read on to learn how you can move the credit card surcharge with PioneerRx and its subsequent benefits.

What is a Credit Card Surcharge?

Let’s start with the basics. A credit card surcharge is a fee enforced by a merchant to compensate for credit card payment processing fees. The surcharge is often a percentage of the overall purchase cost and can range from 1% to 4%, according to Fortune.

Though a credit card surcharge may appear small or inconsequential at first, it can add up as your pharmacy and patient base grows; in essence, the bigger your pharmacy, the bigger the credit card surcharge.

Offering Some Relief

As mentioned earlier, the financial aspects of running a pharmacy have seldom been more complicated. Reimbursements are reaching record lows, so pharmacies must reevaluate how they are spending and earning money.

PioneerRx pharmacies are already using the credit card surcharge feature. Joseph Poling, COO and President of Good Day Pharmacy and guest on the Catalyst Pharmacy Podcast, goes over the relief this feature offered his pharmacy operations.

“Implementing the Credit Card Surcharge has significantly reduced our expenses,” Joseph says. “While the charges on individual transactions are small, they accumulate to a considerable amount over time, leading to substantial savings.”

By passing on credit card surcharges to patients, pharmacies are reducing their own costs, little by little. Given that credit card surcharges are commonplace nowadays, passing them on to patients shouldn’t be too much of a shock.

Note that the percentage your pharmacy can pass on and if they can legally pass a credit card surcharges on to your patients varies from state to state. Contact your Heartland rep to confirm what your pharmacy can charge legally. They can also help you navigate through the requirements needed to begin surcharging.

Giving our pharmacies the choice to move credit card surcharges to patients provides much-needed financial alleviation. Though that 1% to 4% might not amount to much on a single transaction, it will add up in the long run, making a sizable (and welcome) impact on your pharmacy’s finances.

How to Get Started

Starting the process is as clear as the credit card surcharge itself. Contact your Heartland rep to get started. With features like this, PioneerRx is ensuring your pharmacy is running in good financial health so you can focus on your patients’ health.

Visit PioneerRx University for more PioneerRx features that can up your pharmacy game.