Best business credit cards for orthopedic practices

If you're an orthopedic practice owner or financial manager looking to enhance your practice's financial performance, selecting the right business credit card is crucial. Among the options available, Ramp stands out as the clear choice, offering solutions tailored to meet the unique needs of orthopedic practices.

What are the best business credit cards for orthopedic practices? 

Selecting the right business credit card is essential for managing expenses efficiently. Ramp provides an all-in-one solution that simplifies financial operations for orthopedic practices.

Ramp Business Credit Card

Ramp offers a comprehensive financial management solution featuring a business credit card designed for businesses like orthopedic practices. By integrating expense tracking, bill payments, and accounting tools, Ramp simplifies financial operations and helps practices operate more efficiently.

• Automated expense tracking: Eliminate manual bookkeeping with automatic expense categorization and tracking.
• Spending controls: Set precise spending limits to maintain budget discipline.
• Real-time insights: Access up-to-the-minute financial data for strategic decision-making.
• Seamless accounting integrations: Easily connect with your accounting software to save time and reduce errors.
• No annual fees: Minimize overhead costs with a fee-free solution.

With Ramp, orthopedic practices gain better control over finances and reduce administrative burdens, allowing greater focus on patient care.

The Business Platinum Card® from American Express

The Business Platinum Card® from American Express comes with the following features:

• 1.5X Membership Rewards® points on purchases of $5,000 or more.
• Airport lounge access for frequent travelers.
• Dell credits of up to $400 in annual statement credits for Dell purchases.
• Travel benefits including insurance and perks.

The card carries an annual fee of $695. Some users may find the benefits do not justify the high fee, especially if they do not utilize the travel perks extensively. Additionally, qualifying for the card's rewards may require significant spending, and the card has been reported to have strict credit requirements.

Ink Business Preferred® Credit Card

The Ink Business Preferred® Credit Card offers rewards on certain business expenses. 

• 3X points on the first $150,000 spent annually on categories such as travel, shipping, internet, cable, phone services, and advertising.
• Sign-up bonus available after meeting specific spending requirements.
• Flexible redemption options, including transferring points to travel partners.

The card has a $95 annual fee. While the fee is not as high, some users have reported challenges with point redemption and customer service responsiveness. 

Capital One Spark Miles for Business

The Capital One Spark Miles for Business provides travel rewards on business purchases.

• 2X miles on every purchase.
• 5X miles on hotels and rental cars booked through Capital One Travel.
• No foreign transaction fees for international transactions.
• $0 Intro Annual Fee for the first year; $95 annually thereafter.

However, redeeming miles for non-travel expenses may offer less value, and some users have noted that the card's benefits may not outweigh the annual fee after the first year. 

The Blue Business® Plus Credit Card from American Express

The Blue Business® Plus Credit Card from American Express offers rewards with no annual fee.

• 2X Membership Rewards® points on the first $50,000 in purchases each year; 1X points thereafter.
• No annual fee.
• Expanded buying power.

But, after spending $50,000 annually, the rewards rate decreases. This may affect practices with higher spending needs. Additionally, the card may come with lower credit limits compared to other business cards. 

Ink Business Unlimited® Credit Card

The Ink Business Unlimited® Credit Card provides a fixed cashback rate on purchases.

• 1.5% cashback on all purchases.
• Introductory APR of 0% on purchases for the first 12 months; thereafter, a variable APR applies.
• $0 annual fee.
• Employee cards can be issued at no additional cost, with adjustable spending limits.

Starting credit limits may be lower, potentially limiting large business purchases. Some users have reported that the cashback rate is less competitive compared to other options.

At Ramp, transparency and integrity are core values guiding our content. We believe in the exceptional value of our products, which may shape our perspective. Our methodical approach involves competitor analysis, comparison of credit cards, and frequent reviews to maintain reliability. Review our full methodology for choosing the best business credit cards.

How to choose the best credit card for orthopedic practices

As an orthopedic practice, selecting the right business credit card can significantly enhance your financial efficiency. You have to know: 

Which credit cards provide the best rewards for purchasing orthopedic medical supplies and equipment?

Prioritize a credit card that offers substantial rewards in your primary spending categories. Earning cashback or points on medical supplies, equipment, and office expenses can lead to meaningful savings, directly benefiting your bottom line.

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Cards like Ramp allow you to customize spending categories, maximizing rewards on orthopedic-specific purchases such as surgical instruments or prosthetic devices.

How do low fees and interest rates impact the financial health of an orthopedic practice?

Low fees and interest rates reduce the overall cost of borrowing, which is crucial for practices that may invest in expensive equipment or facility upgrades. This ensures more capital is available for patient care and operational improvements rather than servicing debt.

Why is a high credit limit important when choosing a credit card?

Orthopedic practices often require costly equipment like MRI machines or surgical robots. A high credit limit allows for these substantial purchases without needing multiple financing sources, simplifying the payment process and maintaining smooth cash flow.

Should an orthopedic practice look for a credit card that offers additional expense management tools?

Efficient financial management is crucial. Opt for a credit card that offers tools to simplify your accounting and expense tracking, saving time and reducing errors.

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These tools automate tracking of expenses, categorize spending, and integrate with accounting systems. This reduces administrative workload, minimizes errors, and provides real-time financial data, allowing staff to focus on patient care rather than manual bookkeeping.

What additional card benefits should orthopedic practices look for to support their professional development?

Consider cards that offer perks beneficial to your practice's operations and growth, such as travel benefits for conferences or equipment purchase protections.

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Benefits like travel rewards can offset costs when attending medical conferences or continuing education courses. Equipment purchase protections and extended warranties safeguard significant investments in medical devices, ensuring long-term value and operational reliability.

Improve your orthopedic practice's financial management with Ramp

With the right business credit card, your orthopedic practice can improve financial efficiency, reduce costs, and foster growth. Ramp offers solutions tailored to your needs. Take the next step toward financial optimization—request a demo or sign up with Ramp today.