Nitra Visa Card

Practice Financing for MDs

Every day, medical doctors make clinical decisions concerning their patients' care, the treatment of diseases, and assessment of new treatment solutions and medicines.  Doctors' financial profiles are very interesting. Since many own their own practices, they are both medical professionals and entrepreneurs. They have deep knowledge and experience in clinical decision-making, but if they own a private practice they must also manage the administration of personnel and business operations and make wise financial and investment decisions in order to ensure efficient operations and higher earnings. 

Medical doctors invest a great deal of money in office space, medical equipment, and staff salaries. The way they invest their money says a lot about their risk tolerance and financial goals. Many doctors prefer to keep a tight grip on their finances and avoid debt, while others are more comfortable with leveraging their assets to finance growth. Regardless of their approach, all doctors need to make sure that their investments are aligned with their overall financial goals.

One of the most important financial decisions that doctors have to make is how to finance their medical supplies and  equipment. Medical supplies and equipment can be very expensive, and doctors need to be sure that they are getting the best possible deals and financial arrangements on these products. 

Funding medical equipment or supplies can be an expensive endeavor. Practices must take into account their supply chain needs and cash flows. This is especially true when purchasing large equipment.  For these, you also have to account for maintenance contracts, consumable costs, and insurance. However, costly equipment can generate large returns on investment.

Examples of high end equipment used by medical doctors:

Device
Usage
Patient lifts
EKG machine
Ultrasound machine
Autoclave sterilizers

Finding a card that provides advantages and special discounts for the equipment and supplies that medical doctors purchase most frequently is particularly important because you want to ensure you get the most value for your spend. Only the Nitra Card  can give you the purchasing power and flexibility you need to get the best possible deals on medical supplies and equipment. The first business card built for medical doctors was developed by Nitra - powered by Visa - to make sure that your business finances are as healthy your patients.

The Nitra Card is a business card that offers exclusive rewards and offers designed specifically for medical doctors and their private practices. It comes with a robust rewards program which means that you can be rewarded for the purchases you already make - medical supples, business spend, dining, and more.  The Nitra card is a must-have for all medical professionals. 

While many credit cards and business cards appear similar, subtle nuances can have big financial repercussions. 

While many credit cards and business cards appear similar, subtle nuances can have big financial repercussions.

Chase Ink
Amex Business Platinum
Cap One Spark
Annual Fee

$0

$0

$695

$150

Rewards Multipliers

Unlimited 1.5%

Unlimited 2.2% on medical, 2% on select business and dining, 1% all other

5X on Amex Travel, 1.5X on Electronic Goods, Software & Cloud System Providers, US Construction materials and hardware supplies, & shipping (up to $2M of spend)

Unlimited 2%

Statement Credit Redemption Rate

1%

1%

0.6%

1%

Interest on Rewards

x

3% (Coming Soon)

x

x

Employee Cards

Free

Free

Addt'l $300/card

Free

Virtual Cards

x

Free

x

Free

Receipt Match/Auto Reconcile

x

x

x

Dynamic Spend Limits

x

x

x

Card lock/unlock

Accounting Integration

Medical Offers and Discounts

x

x

x

Partner offers and promotions

x

Lounge Access

x

x

Fraud Protection

Extended Warranty

With so many possibilities for financing—installment loans, credit cards, merchant finance—and so many things to take into account, funding a medical business can be a difficult undertaking. But with the proper planning and working with the right organization, you can confidently accept the challenge and get the funding you require to expand your firm.

At Nitra, we are aware of how expensive it is to establish a medical practice or grow an existing one. Your practice financing requirements, for both new and established businesses, are met by the Nitra Visa business card. 

Financing should be viewed as an investment in your business’s future, so it's important to choose an option that will best fit your needs. With the right loan or card product in place, you can confidently move forward with your business goals and provide the best possible care for your patients.

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