Having trouble attracting and retaining your dental clientele? You’re not alone. High deductible insurance plans coupled with HSA/FSA limitations have many consumers baulking at the out-of-pocket expense associated with dental care. In fact, cost has risen to the number one reason why patients avoid routine visits to the dentist. Regardless of income, age or dental benefits, 69 percent of patients cite lack of financing as a primary reason for delaying or declining care.
To ease financial anxiety among patients, many dental services organizations (DSOs) are leveraging the advantages of a revolving credit account. This patient financing product helps DSOs attract and retain more patients by making dental care more affordable and accessible.
Marketing to Prospective Patients
A revolving credit product can benefit consumers’ long-term financial health. First-time patients receive a hard credit check when initially applying for a line of credit; however, in the future, they will not have to reapply to finance additional transactions. Even when the standing amount is fully repaid, account funds remain available for patients’ expected and unexpected care costs.
Additionally, patients appreciate applying their revolving credit account to their entire family’s care. As unexpected dental costs arise, account holders have peace of mind knowing funds are available to cover their family’s expenses.
Improving Current Patients’ Payment Experience
Revolving credit accounts are convenient and user-friendly. Multiple expenses are consolidated and managed in one place, leaving patients with a single monthly balance – saving patients the headache of managing a variety of payments on multiple dates throughout the month. Additional transactions are recorded on the monthly statement and in a patient’s online payment portal, offering account holders a detailed view of their spending and available credit. Lastly, patients can leverage autopay to save time and ensure consistent on-time payments.
Inviting Current Patients Back for Regular Care
Keep patients coming back with available funds reminders. Via email, text or phone, your financing partner can subtly remind patients of their remaining line of credit. Whether for routine care or an urgent procedure, revolving credit gives account holders financial flexibility.
Fully leverage your revolving credit product to build your patient base and increase revenue. Give your patients a simple and proactive way to manage their dental expenses, and the peace of mind to move forward with additional dental care treatment.
Health Credit Services is committed to delivering financing solutions that make dental care more attainable. We offer a broad spectrum of products for your patients’ individual needs and customized financing programs that include the tools and resources to help you build a better patient experience.