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• Wednesday, January 27th, 2010

Once you’ve eliminated dentist billing, what financial options should you offer patients?

PATIENT: “Can’t you just bill me?”

FINANCIAL COORDINATOR: “Mrs. Jones, when we bill someone, it’s just like a bank lending money, and you know how much trouble the banks have gotten into in the last few years. That’s why we no longer send bills.

“However, can you afford $100 a month?”

PATIENT: “Why yes, I think so.”

FINANCIAL COORDINATOR: “That’s great, Mrs. Jones. For those who qualify, we have a lending service that can finance your part of the treatment for up to two years.

The critical qualifier here is “For those who qualify.” You of course will already have worked out the monthly dollar amount using one of the THREE outside patient financing companies that you will be working with.

Which three? It doesn’t matter. The issue is that the ability of any given patient financing company to lend money will vary day to day, even morning to afternoon.

The solution is to have three companies on tap to work with. If the patient fails to qualify with one, go to the next.

If the patient fails to qualify for outside financing with all three, you’ll have to decide if this person is a “Prospect” or a “Suspect.”

See our next TWDU Insight for the answer to this question.

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