Did you know many Americans avoid or delay dental appointments due to cost?
Around 74 million Americans have no dental coverage. Also, 42% of people in the US don’t see a dentist as often as they would like. These statistics clear the fact that people often neglect dental visits just because of their inability to afford the needed care.
The cost of dental care and treatment is on the rise. This is why millions of Americans put off routine visits to dentists and don’t want to pay out of pocket for treatments. Though practices strive to serve people with excellent dental care, not at the cost of revenue. Similarly, you can’t afford to give your patients the required treatments or procedures at lower costs than the market.
Then how can dentists like you offer services to patients who can’t afford to pay? How can you streamline your billing & collection?
The answer is in-house dental financing by Denefits.
You may have surely advised your patients to get help from traditional lenders to pay for their dental treatments. Also, you may already know most patients don’t get approved due to poor credit scores. Hence, it is the right time to make financing obtainable for all your patients.
You may be wondering how Denefits’ in-house dental financing can make a difference. You might also want to learn how it can benefit you and your patients. This blog covers everything that will help you make a mindful decision.
What is in-house dental financing?
As the name suggests, in-house dental financing means where a dentist offers financing to his patients who can’t pay out of pocket for expensive treatments. A contract is signed between the patient and the dentist, which mentions the cost, rate of interest, tenure, and other terms & conditions. The patient gets dental treatment & care instantly and makes monthly payments to the dentist as per the decided tenure. The dentist never turns away a patient and charges interest on the total cost from the patient.
It’s a win-win situation for both dentists and patients.
If you are thinking of offering in-house dental financing, consider Denefits, a complete payment solutions provider. Below is a comprehensive list of reasons why it is one the best solutions you’ll ever come across.
Why choose in-house financing by Denefits?
Here are a few reasons why you should choose Denefits over traditional lenders:
* Finance In Less Time
Although there are traditional lenders who finance patients to meet their dental needs, it may take days for patients to get financed. Therefore, the in-house dental financing is the demand of the hour. You can make dental care accessible to all your patients with just a few clicks.
* No Credit Checks
No doubt more people need dental care while only a few receive adequate treatment. The main reason is that most patients fail to get financed from traditional financial institutes due to bad credit. On the other hand, Denefits offers guaranteed dental financing to all patients without checking their credit scores. So, you can help more patients with low credit.
* Flexible Payments
Traditional dental lenders follow hard and strict rules when it comes to monthly payments. Instead, give your patients an unmatched financing experience with Denefits, an innovative way for them to improve their credit scores and for you to earn more revenue.
* Customer Support
Denefits offers customer support 24*7 for you. Now, you and your patients can enjoy dedicated support from a team that resolves your queries and disputes whereas traditional lenders don’t. Also, the team makes sure to streamline your billing and collection processes.
* On-the-go Access to Account
Thanks to digitalization, Denefits makes patient financing easy and on-the-go. You can now edit contracts, set up dental payment plans, and get instant notifications related to payments, claims, and billing anywhere, on any device.
These benefits of in-house financing by Denefits show how it can be a game-changer for you and your patients.
Still not convinced? Learn more about the uses of in-house dental financing for your practice and patients.
How in-house dental financing can help practices and patients?
Denefits For Dental Practices:
Here are the top benefits of using in-house dental patient financing for dentists-
* Finance Your Way
You would never want to deter your patients from getting the perfect, healthy smile. But a patient’s inability to pay is a matter of concern. Here’s where in-housing financing brings a way out. You can easily finance patients on your own terms and don’t have to worry about losing them. The patients get the necessary care and make monthly payments to pay for their dental treatments. Hence, in-house dental patient financing options never let you waste any opportunity to earn.
* Easy of Use
Denefits’ in-housing solution is simple to understand. It is a user-friendly software that enables you to finance your patients with a few clicks. You can create different payment plans for your patients and let them choose the best one. Moreover, you can access the in-housing dental financing contracts from anywhere and at any time by simply downloading the Denefits mobile app.
* Never Turn Away A Patient
Every dentist has experienced the pain of turning away patients because they can’t afford the dental care they need. If you’re looking for a solution, risk-free in-house dental care patient financing is the answer. You can turn every walk-in into your loyal patient by offering them guaranteed dental financing. Now, you can generate more revenue than ever by giving your patients the power to afford your services and treatments.
* Increase Revenue
The more patients you finance, the more revenue you generate. You just finance your patients in-house and receive monthly payouts directly to your bank account. Also, all your payments are guaranteed which means if a patient fails or misses to make any payment, Denefits will take care of it. You can earn a profit on accumulated profit and fees. All in all, in-house dental financing makes your services affordable to more patients which results in increased revenue.
* Reduce Accounts Receivable
According to a report, more than 80% of patients said they can pay off their dental bill in full if given an affordable dental payment plan. With in-house dental financing, you can create different payment plans for your patients and give them the option to pick a plan that suits them the best. In other words, you allow your patients to make monthly payments, and that too at their convenience. This decreases the chances of missed or failed payments, ultimately reducing bad debt collection.
Now that you’ve learned what in-house dental financing can do for your practice, you may be thinking about why your patients will choose your dental financing over traditional lenders. Well, here’s why:
Denefits for Patients:
Here’s how you can easily convince your patients to choose in-house patient financing:
* Flexible Payment Plans
No other traditional dental finance lender allows patients to edit their payment date. But your patients can make flexible payments without paying any deferred amount.
* On-time Access to Expensive Treatments
No more paperwork or long waiting time for approvals. As soon as you make a contract with Denefits, your patient gets approved!
* More Affordable Dental Care
You make payment plans keeping the best interest of your patient. You can simply create a payment plan selecting the rate of interest of your choice and tenure as per your patient’s needs. You can give different payment plan options to your patients so they can choose the most affordable one.
* No Credit Check
Even patients with poor credit scores can get financed easily. Denefits offers guaranteed financing for your patients regardless of their credit score.
* Payment Plan That Works For Them
You are the one who is creating the payment plans for your patients. Be reliable and create customized plans that best suit their needs.
* Use Denefits In Conjunction With Traditional Lenders
Your patients enjoy hassle-free financing with Denefits and traditional lenders, no matter what! When other lenders deny financing to your patients, Denefits accepts.
In-house dental financing by Denefits brings many perks to you and your patients. It’s time to open your practice to a larger patient base than ever before. Earn revenue from patients who otherwise would not be able to afford your services.
Download the Denefits app and get started today!