INCREASE PRODUCTION WITH MORE PAYMENT OPTIONS

Today’s economic slowdown has resulted in decreased production in many practices.  Numerous workers have lost employment, and, therefore, are without dental insurance.  Others are still working, but their employer has had to cut costs by eliminating dental insurance altogether or changing the plan to require higher deductibles and co-pays combined with lower reimbursement rates.  The result has been patients with lower or no dental insurance benefits and less cash with which to pay for dental care.  Obviously, this negatively affects acceptance of treatment and, therefore, production.

To combat this problem, many practitioners are increasing payment options in several ways.  Smaller or even zero down payments on extensive treatment plans, reduced monthly payments, and in-office financing are some options being utilized.  If these options are offered, consultants suggest obtaining two ways to auto-draft patients’  accounts as the primary method of monthly payment or as a back-up if a patient fails to make a monthly payment.  (1)  Arrange an automatic monthly debit to the patient’s charge card backed up by (2)  automatic drafting of a patient’s bank account should the charge card be maxed out or cancelled.  These alternative methods of payment help assure your practice will receive payments in a consistent, timely way.