Chiropractic care has become a popular form of physical therapy, but due to rising costs, many cannot afford the treatments. One session of chiropractic care can easily end up costing patients hundreds of dollars. For such occurrences, patient financing is a popular option that helps patients spread out the payment across multiple months. But with so many options for patient financing on the market, how can you know which one to choose?
This blog will give you a rundown on the many factors that affect the cost of chiropractic care, as well as introduce you to Denefits, a popular patient financing option for chiropractors.
According to a study done on back pain, more than 22 million Americans see a chiropractor annually. This data clearly shows that many U.S. adults find chiropractic treatments to be very effective for combating back pain. Furthermore, chiropractors can help you improve your nutrition, liveliness, and overall lifestyle.
However, the major obstacle to accessible spinal manipulative therapies are the increasing fees of a chiropractor visit. As a result, many people are unable to afford to get regular chiropractic adjustments. Chiropractors who offer patient financing can help make costly treatments more accessible to a wider set of patients, which will help them grow their practice at the same time.
WHY ARE CHIROPRACTIC SESSIONS SO EXPENSIVE?
Chiropractor fees vary from practice to practice due to multiple factors, but we’ve listed a few below.
Experience of a chiropractor
Due to chiropractic care being a hands on practice, patients are not only paying for the treatment itself, but also for the experience level of their chiropractor. A chiropractor with years of experience may charge a significant amount more than a chiropractor who is only just beginning.
Lack of Options in the Market
Chiropractic care is one of the leading alternative approaches to improving overall wellness, but depending on the area, there may realistically not be many around. Due to there being a lower number of practicing chiropractors than other healthcare providers such as dentists, the average cost of a chiropractic visit varies depending on the location.
Chiropractors offer effective care for your overall well-being. Since every person requires different forms of care, the price a patient pays for their chiropractor visit fluxuates. For those needing multiple sessions, chiropractic care can quickly become expensive when compared to the price of just one session.
These are only a few reasons why chiropractic care can become costly for patients. However, thanks to modern patient financing solutions, there are many chiropractic patient financing options available in the market, such as Denefits.
Denefits: The Affordable Patient Financing Service Every Chiropractic Practice Needs
Denefits solves the problems chiropractors face with patient financing, payment processing, and billing.
What is Denefits?
Denefits is a complete payment options system. With its three core features – guaranteed patient financing, no fee payment processing, and automated accounts receivable – Denefits provides your practice with solutions that you and your patients will love.
With Denefits, chiropractic practices are given the tools needed to be in control of all their payment processing, and helps to expand their patient base. Let’s dive into some of various advantages Denefits offers chiropractors:
Guaranteed Patient Financing
Patience is an important trait, but when it comes to one’s health, there are many treatments that are time-sensitive. With traditional lenders, patients have no way of knowing whether or not they will be approved for a finance contract until they have to provide some form of payment. Waiting for approval, or looking for lenders to provide financing approval can become time consuming for patients who need treatments quickly.
With Denefits, patients are instantly approved with no credit checks, helping chiropractors accept more patients. Instead of turning patients away due to various factors traditional lenders impose on patients, Denefits can help practices turn their missed opportunities into additional revenue. Because of this, patients can be diagnosed and treated without any delay!
Put simply, Denefits provides patients the chance to have access to important health treatments, regardless of their past credit history.
No Fee Payment Processing
Each time a credit card transaction occurs, merchants are charged ridiculous processing fees. As a business, merchants are forced to pay the transaction fees without a choice in the matter, meaning they lose money with every credit card transaction.
With Denefits no fee payment processing feature, Denefits gives chiropractors back the power of choice: to share or pass on the transaction fee with their patients. There is no equipment to install, no contracts to sign, or no maintenance fees, so chiropractors are always in control of their payment processing.
Automated Accounts Receivable
Denefits offers patients and chiropractors flexible options when it comes to overdue payments. For chiropractors, collecting overdue payments is a complicated, time consuming process: routinely calling patients to collect, sending invoices in the mail, and manually updating past due accounts are all an inefficient usage of time. For patients, overdue payments often result in negative impacts to their credit score.
Denefits understands that financial situations change, which is why it offers simple solutions for dealing with overdue payments. With Denefits Automated Accounts Receivable, chiropractors can bring over their overdue accounts, and Denefits handles contacting them for their practice. Denefits will send overdue accounts flexible payment plans, to help chiropractors get the money they’re owed.
Easy Contract Edits
What if patients fail to make their monthly payment on time? With traditional lenders, late payments often result in the patient being charged a late fee. However, this practice is ineffective because if a patient is unable to afford a monthly payment, they will not be able to afford a late fee. Such practices can result in a patient going into debt.
With Denefits, editing a patient’s contract only takes a few clicks. Within their business portal, chiropractors can edit any part of their patient’s contract such as monthly payment amount, payment due dates, and can grant extensions. With easy to edit contracts, Denefits helps chiropractors build strong relationships with their patients by providing them with options they will appreciate. Chiropractors can use Denefits as a way to provide unique finance contracts for their patients that work with their budget and ability to pay, so they never have to turn a patient in need away.
Social Payments by Denefits
Denefits offers patients support for when unexpected financial changes occur. With Social Payments, patients can receive donations from community members that go directly to their Denefits contracts.
Social Payments provides reassurance for both chiropractors and patients. When patients succeed, chiropractors do as well. Social Payments keeps patients from falling behind on their payments, and can help chiropractors to ensure a payment is never missed.
How Does Social Payments for Chiropractic Patient Financing Work?
Social Payments is a solution that helps you make payments. You can benefit from the kindness and generosity of others. You can share your story with your family, friends, and community and give them a link (associated with your chiropractic patient financing account) to receive donations from others.
Patients Can Use Denefits To Increase Their Credit Score
Denefits doesn’t require a credit check to be approved for a financing contract, which can help patients receive the chance they need to improve their credit score. Denefits reports each payment on time, so patients can increase their credit score for future financing plans. With Denefits, patients can enjoy flexible finance options while working towards improving their credit score.
On-the-Go Access To Finance Contracts
With the Denefits mobile app, patients and chiropractors can access their finance contracts from anywhere, on any device! Patients can make payments from the comfort of their home, and chiropractors can edit contracts without having to be in the office.
How To Move Forward
Chiropractors offer patients many benefits that help to improve their overall health. However, due to high costs, many patients are unable to afford the treatments they need. While traditional lenders can help patients afford treatments, many factors can result in patients being denied. To increase their patient reach and offer affordable prices, chiropractors can use services like Denefits to solve the common problems surrounding patient financing, payment processing, and accounts receivable. With Denefits, chiropractors get control back of their payment processing, and patients get the help they need to afford treatments.