Tip#9: How To Save $80,000

Take advantage of the 2% prompt payment discount (Savings: $4,000) 

Photo Credit: Echo9er

This tip is for those pediatric practices that spend a lot of $$$ on vaccines.

As you may know, most vendors (i.e., GSK, Sanofi Pasteur, Wyeth & Merck) give their accounts a 2% prompt payment discount. But how much savings is that? Glad you asked.

The answer is… depending on how much money one spends on vaccines. Here is some simple math to see how this works:

-         $100,000 x .02 = $2000

-         $200,000 x .02 = $4000

-         $300,000 x .02 = $6000

-         You get the picture

This tip is very easy to do because all one has to do, is what we are all already doing (I presume), which is paying our bills on time. In other words, we are getting a little, something-something, for doing something that we should be doing anyhow.

Not to mention that if one pays for the vaccine’s using a credit card , not only will one earn the credit card points, but one will also be able to extend/delay the payment for up to another 28 days due to the credit card’s billing cycle.

Tomorrow will be my last How To Save $80,000 post. Stay tuned.