Hodzic got 21 of his points and Slater 17 of his in the second half, when the Bisons (4-2, 1-0) shot 51.6 percent (16 of 31) from the field.
The game was tied nine times, including 28-28 at halftime. A 3-pointer by Robert Boyd put Lipscomb ahead to stay, 53-50, with 9:11 remaining.
Slater scored six points during an 8-1 run that widened a two-point lead to a 66-57 advantage with 2:34 left.
Brian Mills scored 15 points for the Bears (2-7, 0-2), including a pair of free throws that gave Mercer its largest lead of the game, 27-19, with 5:53 until halftime. Mills also had 12 rebounds.
Langston Hall also scored 15 points for Mercer.