Literally, everyone took a financial hit of sorts during the pandemic, and we’ve yet to see the end of it. But, that doesn’t change the fact that your patients still need dental care, and that your practice still needs to make money. Now, more than ever, patient case acceptance is essential. But, you may find that patients are more likely to say no once they hear the cost of their treatment plan. In many cases, patients may find it easier to afford necessary dental care when they have payment options that work within their budget. Today on the blog, our dental consultants want to share why adding financing options to your practice post-COVID may be a smart move.
- Increases patient acceptance
One of the most common reasons patients avoid treatment or choose the cheapest option is money. Even patients with dental insurance may be left with an out-of-pocket expense that far exceeds their budget. But, offering special financing allows a flexible payment option for your patients, which may make them more likely to say yes to the recommended treatment plan. Patients are going to need dental care one way or another, and if they can’t get it from you, they’ll just look elsewhere! Offering special financing options will help you retain patients.
- Helps patients save money
Your practice probably already accepts major credit cards, a convenient payment option for sure. But, not all patients have credit cards. Not to mention, most credit cards carry a high-interest rate that could take years to pay off if making minimum monthly payments. Third-party lenders, such as CareCredit or LendingClub, offer monthly payments with little to no interest, saving your patients hundreds of dollars in the long run. For instance, CareCredit offers interest-free payments if the balance is paid within 6, 12, 18, or 24 months on purchases of $200 or more. The length of financing is dependent on the total amount charged.
- Allows patients access to affordable dental care for their family
Dental care is expensive to most patients, but having flexible payment options makes getting that care more affordable. With CareCredit specifically, patients can use it to pay for dental care for their immediate family. This way, patients don’t have to choose who’s mouth is more important to take care of.
- Grow your patient base
Not all dental practices offer financing, which means that patients needing care may end up at your practice just because they found you online and saw that you offer financing. This brings us to another important point. CareCredit or LendingClub allows you to advertise their logos on your dental practice website. Pairing with an experienced website designer, Bryant Consultants, we can maximize your SEO so that patients looking for dentists that offer special financing will easily find YOU!
Bryant Consultants has been providing training and consulting services to dental practices for more than a decade. Our goal is to help practices reach their full potential and thrive past the pandemic. If you would like to learn more, please call (877) 768-4799 for a complimentary one-hour consultation. Are you on social media? We are too! Please connect with us on Facebook and Instagram.
