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Dental care is an important part of your patients’ health, but patients might forgo seeking necessary dental care due to the costs involved.
One way your office can help with concerns around cost is by offering payment financing options. These allow patients to spread out payments so that the price of treatment doesn’t hit all at once.
Here are five ways payment financing options can help your office while improving patient care:
- Spread Out Payments: It’s no secret that the price of medical care, not just dental, is top of mind for U.S. citizens. Financing options that can spread out payments to offer manageable installments or discounts are a great way to help patients afford treatment.
- Affordability: Speaking of affordable treatment, the types of financing options you offer play a key role in how accessible treatment at your practice may be. Specifically, for patients who don’t have insurance – this can be a lifeline for providing accessible care.
- Patient Experience: Receiving a large bill in the mail can be one of the most stressful parts of receiving dental care. By providing patients with flexible options, it shows a willingness to work with them that makes their entire experience more comfortable. If a patient is more comfortable, they’re more likely to come back.
- How Your Practice Benefits: Payment plans allow your practice to forecast revenue with steady cash flow. Unpaid invoices and delayed payments make it difficult for practices to accurately predict revenue each month, but that comes from a position of need on the patient’s side. While you may receive less up front, your practice benefits long-term and reduces the amount of paperwork you’re sending to collect on bills.
- Modern Solutions: While we’re on the subject of snail mail, there are platforms specifically designed for practices and their patients to coordinate a payment plan. These streamline administrative processes for your practice and simplify the experience on the patient side. This way, your practice can focus on providing stellar care alongside smooth financial operations.
Financing options allow patients peace of mind and provide practices with consistent revenue they can plan around. If you’re interested in learning more, make sure to visit our site here.
