Credit card surcharges have been banned across Australia’s major payment networks, and private medical practices now face a choice: absorb the cost or restructure how they charge patients. Ricky Caldow and Mitch McKeown, Directors at the Bongiorno Group, unpack what the change means for practice owners and doctors managing business cashflow. 

They examine the difference between the surcharge disappearing and the underlying merchant costs remaining, why now is the time to review merchant facility agreements and negotiate with banks, and how doctors using credit cards to pay tax bills and large expenses may benefit from the shift. 

They also discuss the ongoing use of credit cards for short-term cash flow management during training years, and why understanding the numbers behind these changes is critical to protecting practice profitability. 

 

The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Victorian & Tasmanian Regional Alliance Partner of the Australian Orthopaedic Association. 

For more information, please call 03 9863 3111 or visit https://bongiorno.com.au/ 

This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product Disclosure Statement before deciding to acquire the product.

Credit card surcharges have been banned across Australia&rsquo;s major payment networks, and private medical practices now face a choice: absorb the cost or restructure how they charge patients. Ricky Caldow and Mitch McKeown, Directors at the Bongiorno Group, unpack what the change means for practice owners and doctors managing business cashflow.&nbsp;
They examine the difference between the surcharge disappearing and the underlying merchant costs remaining, why now is the time to review merchant facility agreements and negotiate with banks, and how doctors using credit cards to pay tax bills and large expenses may benefit from the shift.&nbsp;
They also discuss the ongoing use of credit cards for short-term cash flow management during training years, and why understanding the numbers behind these changes is critical to protecting practice profitability.&nbsp;
&nbsp;
The Money Doctors is proudly brought to you by leading financial services organisation the Bongiorno Group, the preferred tax and accounting partner for the Australian Medical Association Victoria and the Victorian &amp; Tasmanian Regional Alliance Partner of the Australian Orthopaedic Association.&nbsp;
For more information, please call 03 9863 3111 or visit <a href="https://bongiorno.com.au/">https://bongiorno.com.au/</a>&nbsp;
This general advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product Disclosure Statement before deciding to acquire the product.

The Money Doctors is a fortnightly podcast series offering conversations on financial wealth and money matters for Australian medical and dental professionals.

This podcast is proudly brought to you by leading financial services organisation the Bongiorno Group.

The general advice in this series has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product disclosure Statement before deciding to acquire the product.

The Money Doctors is a fortnightly podcast series offering conversations on financial wealth and money matters for Australian medical and dental professionals.
This podcast is proudly brought to you by leading financial services organisation the Bongiorno Group.
The general advice in this series has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product disclosure Statement before deciding to acquire the product.

The Money Doctors

The Money Doctors offers conversations on financial wealth and money matters for Australian medical and dental professionals. 

This podcast is proudly brought to you by leading financial services organisation the Bongiorno Group. 

The general advice in this series has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product disclosure Statement before deciding to acquire the product.

The Money Doctors offers conversations on financial wealth and money matters for Australian medical and dental professionals. 
This podcast is proudly brought to you by leading financial services organisation the Bongiorno Group. 
The general advice in this series has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of this advice before acting on it. If this general advice relates to acquiring a financial product, you should obtain a Product disclosure Statement before deciding to acquire the product.