In this article I explain the benefits of offering dental patients the option to pay for treatments with zero and low interest finance. I also offer advice for developing a dental practice to increase patient satisfaction. You can view this and other article in PPD at http://www.ppdentistry.com/dental-management/article/carter

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DENTAL MANAGEMENT POSTED: 5 SEPTEMBER 2012 Advertisement Advertise with us
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AUTHOR: BRIAN CARTER
Giving your patients the option of finance to pay for treatments is likely to increase the
profits of your practice. Director of Dental Finance Brian Carter maps out a guide to get
your practice ready to prosper
The National Association of Specialist Dental Accountants and Lawyers (NASDAL) recently summarised
its financial data for dental practices in 2010-2011 as ‘profits down, costs up’ with fee income down in
both the NHS and private sectors. But it doesn’t have to be like that.
Offering patient finance options can assist any private or mixed practice to increase turnover and
profits. There will be greater take up of treatment plans by existing patients and it’s a benefit when
marketed to potential new patients, who will be encouraged to join because they know treatment won’t
have to be paid for in one lump sum.
Preparing to prosper
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Before offering patient finance, thought needs to be given to the range of finance options that will be
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made available to ensure payments are affordable to patients, at a cost which is reasonable to the
Source: Dentistry.co.uk
practice.
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Once the dentist has introduced the idea of finance to a patient, there must be a smooth handover to Source: Medical News Today
staff who have been trained and are confident in discussing the financial options in private with the
patient. It is a team effort. MILLIONS COULD HAVE FLUORIDE ADDED TO WA...
Source: Telegraph
To maximise the advantages of providing patient finance, it should be viewed as part of an overall
business plan aimed at developing the practice, and for offering finance to have the greatest effect, all SEE ALL OF OUR DENTAL LINKS !
practice staff in contact with patients need to reflect a warmth and enthusiasm that will make them feel
welcome – doing so will maximise the likelihood of patients proceeding with treatment. http:// Found a great article? Submit it Submit
Consider this: if you were seeking to buy the latest top-of-the-range gadget and visited a scruffy
showroom with unenthusiastic staff it is unlikely that you would purchase anything, no matter what
was on offer. That is why most retail showrooms tend to be light and bright with enthusiastic and
attentive staff.
The same applies to patients visiting a dental practice. Patients expect a treatment being offered will be
of a good quality, so that is not really a key consideration for them. However, if they feel comfortable
in their surroundings and receive a warm welcome from members of the team, they will feel at ease
and more receptive to proceeding with suggested treatments.
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2. Provide an affordable solution. A treatment cost of £2,000 in one
sum might be difficult for your patient to take in or pay, whereas
explaining that this could be financed for as little as £10 per week
can overcome the problem and convert a ‘I’ll think about it’ patient
into an active patient
Appearance
Presentation is an all-important aspect. So how does your practice stand up against the following
points?
• Is the practice clean and welcoming, both inside and out?
• Is it likely to be attractive to new patients?
• Is the patients’ lounge (calling it a ‘waiting room’ conjours up of draughty railway stations and late
trains) comfortable?
• Remember, patients might be considering spending hundreds or indeed thousands of pounds, so first
impressions are critical. It is likely that a new patient may have made their mind up about the practice
before even seeing the dentist.
Staff
Receptionists, nurses and all other support staff are effectively your ‘front of house sales team’. Their
attitude and the information they provide to patients are vitally important.
• Do they do it well?
• Do they say what you want them to?
• Do they have scripts to respond to specific enquiries?
• Is their performance monitored?
Efficiency
Patients will prefer to deal with an efficiently run practice, and to achieve that nowadays requires the
appropriate technology.
• Are your computers fast and modern with the latest versions of software?
• Does the practice email work reliably?
• Do the fax and the printer work faultlessly?
• Can the telephone system cope with the requirements of the practice?
Selling
• Patients may not necessarily understand the technicalities of the treatment, but an understanding of
the longer-term benefits will undoubtedly be part of each patient’s decision-making process
• Provide an affordable solution. A treatment cost of £2,000 in one sum might be difficult for your
patient to take in or pay, whereas explaining that this could be financed for as little as £10 per week
can overcome the problem and convert a ‘I’ll think about it’ patient into an active patient
• Ensure your patients are happy with their treatment as this will ensure return visits, as well as
generate new patients by recommendation.
Creating comfort
Current economic conditions have created a number of challenges for many businesses, including in
private dentistry. People have become more selective in respect of what they buy and where they buy
it. Making treatment affordable is of critical importance and to gain maximum advantage, you need to
ensure that everything is in place to create a comfortable buying environment.
For further information, please contact Brian Carter of Dental Finance on 07801 951921 or visit
www.financingfirst-dental.co.uk
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3. www.financingfirst-dental.co.uk
Brian Carter has been a director at Dental Finance since 2001. The company provides consumer
finance facilities, principally in the dental sector. It offers finance plans to increase treatment take
up, patient satisfaction and improve practice profitability. Previously, Brian worked at Barclays Bank
and then First National Bank in various management roles. He is also an Associate of the Chartered
Institute of Bankers (ACIB).
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