Do's and don'ts for payments: Make treatment affordable

By Roger P. Levin, DDS

August 5, 2019 -- Some practices wrongly assume that only a small portion of patients can afford elective treatment and, therefore, present cosmetic dentistry only to these select few. Many people are willing to pay for elective treatment if they are aware of all the available financial options.

Do

Show patients that their treatment is affordable. Affordability is often the hardest objection to overcome, so why not make paying for treatment as easy as possible? Use these four convenient options:

  1. 5% discount for full cash payment upfront
  2. Half upfront and half before treatment is completed
  3. Credit cards
  4. Outside financing

Don

Don't forget to promote patient financing. Both your practice and your patients will benefit when you help them pay for treatment through an outside finance company. In exchange for a processing fee, you eliminate the time-consuming tasks of billing and collection -- and, of course, the risk of nonpayment. For patients, it means no down payment and a more affordable, extended payment plan.

Roger P. Levin, DDS, is the CEO of Levin Group, a leading dental management consulting firm, and one of the most sought-after speakers in dentistry. Dr. Levin has authored 65 books and more than 4,000 articles on dental practice management and marketing. You can sign up for the Levin Group Tip of the Day.

The comments and observations expressed herein do not necessarily reflect the opinions of DrBicuspid.com, nor should they be construed as an endorsement or admonishment of any particular idea, vendor, or organization.


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