• Sunday, January 31st, 2010

Eliminate doctor billingWhat do you do with patients who are turned down by outside financing companies?

FINANCIAL COORDINATOR: "For those who qualify, we have a lending service that can finance your part of the treatment for up to two years.

Thankfully you used the verbal skill above “For those who qualify,” because…

FINANCIAL COORDINATOR: “I’m sorry, Mrs. Jones. You didn’t qualify for financing. However, to make this affordable for you, we can structure your payments so that you pay $1,600 in advance of scheduling, and the remainder one week prior to the day of treatment.”

This is probably your most important verbal skill in the patient financing process.

Remember, this person has rejected the three most common forms of payment:

  1. Cash or Check
  2. Payment today or in advance of scheduling – 5% bookkeeping adjustment
  3. Visa or MasterCard

And, most importantly, this patient FAILED to qualify with three outside dental financing companies. This person is a "Suspect!"

You would have to be brain-dead to put this patient in the doctor's schedule without at least 50% of the patient's share of the fee in your bank account with the check cleared.

Now this is important… the remaining 50% must be paid at least one week prior to the day of treatment!

If you allow this patient to wait to pay the balance on the day of treatment you are setting yourself up for a major disappointment when they call in sick or lost their checkbook again.

With a week's advance notice, you still have time to fill that hole in the doctor's schedule.

But there is still one more step you can take to help… I'll tell you in the next TWDU Insight.

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