June 27, 2022
No lie: We think we can save you anywhere from 45% to 75% in credit card fees
For the past several months, APC has been working with a national consulting firm, CMSPI, to assess the viability of creating a group purchasing arrangement for our Pharmacy/Facility Members on credit card processing fees.
APC is delighted to report now that the prospects for that deal look really good, and the headline above is no exaggeration: We think there’s potential to save you as much as 75%, and we’re hosting a FREE VIRTUAL BRIEFING on July 21 to tell you about it.
Here’s the gist (we’ll tell you more on the July 21 briefing call):
Based on the data APC members provided on average volumes, values, and cost of acceptance, CMSPI was able to estimate the cost of card processing for the average APC member. Using the invoices provided and APC estimates for membership breakdown, we estimate the average APC member pays about $0.28 per transaction for processing (please note that this excludes interchange and network fees, which typically cannot be collectively negotiated).
Modeling levels of savings by number of APC members, we estimate that through a group deal with APC, members could achieve processor margins as low as $0.07-0.15 per transaction. This is based on CMSPI benchmarks for similarly sized merchants.
We need to make sure you’re interested and potentially willing to commit to such a deal, which could save your pharmacy or facility well more than what you’d pay APC in PFM dues. That’s one reason for the July 21 briefing call.
At the same time, CMSPI is working with dispensing software providers and payment processors to ensure minimal to no disruption for APC members looking to engage on the group deal.
Our 30-minute briefing call is set for Thursday, July 21 at 2:00pm ET. It’s free to attend, but you need to register here: a4pc.org/cardfees.
We think we can save you some big money and enhance the value of your membership in APC, but we need to hear from you and take your pulse on this deal. Hope you’ll join us for the briefing.