Benefits of Flexible Dental Payment Options
Taking care of dental treatment is a crucial aspect of healthcare. However, sometimes the high expenses attached with most related procedures come in the way, and patients take a step back. While medical insurance covers most dental procedures, the extent of the coverage may not be enough, thereby increasing out-of-pocket expenses. The outcome is patients opting out of getting treated and dentists/clinics losing out on patients and revenue. This is where offering flexing payment options to patients can help.
Types of payment options
When it comes to providing financing choices to patients for easy payment, you can try out various options. Making it flexible and easy on the pocket is the key. Some of the popular options are:
- Payment plans and packages customized to suit the type of treatment: Patients get the flexibility to pay in installments as the treatment progresses instead of upfront payment.
- Third-party loans: For this, you can tie up with a lender to pay on behalf of the patient, and the latter repays the lender later as per agreed terms and conditions between both parties.
Benefits of flexible payment
There are quite a few benefits of flexible payment options. Some of the key ones are:
- Patient retention: Paying for treatment as a lump sum at one goes right at the start can turn out to be a financial burden for many. And they end up giving up on crucial treatment procedures due to such financial constraints. So if patients are not undergoing dental treatment due to a lack of funds to pay upfront, a flexible payment option will always bring them back to the clinic. This also gives you an edge over the competition.
- Increase in revenue: A good flexible payment option for oral care is always a win-win with patients. As stated in the previous point, it helps in patient retention and also attracts new patients who would always choose a clinic with such offerings. All of these are good news for any dental practice as far as revenue is concerned.
- Better focus on patients: If there is regular income through payment plans and patients keep coming back for follow-up treatments, as a dentist, it gives you more opportunity to focus on their overall dental care. Instead of just treating the issue at hand, you can suggest preventive treatment and encourage patients to be more careful about their oral health.
Financial constraint is a major issue for patients opting out of dental treatment. Thus, flexible payment is extremely crucial in providing patients the confidence that their concerns will be taken care of no matter what.