The new dental economy: Affordability and patient goodwill

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dental payment planThis article is sponsored content brought to you by DentiCare.

Increasing treatment acceptance without consumer credit products

When it comes to planning dental services, many potential patients miss out on services that might help them because they are worried about payment. We often hear the story of a patient who requires $6000 worth of treatment but can only afford $3000 at the time. This is where a payment plan becomes an essential tool in enabling treatment acceptance and avoiding delays.

As the leading provider for dental and orthodontic payment plan solutions since 2003, DentiCare has seen a marked increase over time in the adoption rates of payment plans by practices and the patients they serve.

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DentiCare survey—patient payment plan insights

DentiCare recently conducted a survey with over 3000 payment plan responsible parties. Over 79% of respondents indicated that they could not afford treatment without a DentiCare Payment Plan. 61% of those surveyed used a payment plan to fund general and major dental treatment with 64% funding treatment between $3000 and $9000 in value.

As a third-party provider to your practice, we understand the importance of continuing the excellent level of patient care that you provide throughout the payment plan process.

To ensure we deliver on this promise, we surveyed all respondents using the globally accepted Net Promoter Score (NPS). The NPS is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company’s products or services to others. An NPS of over 50 is excellent.

DentiCare achieved an industry leading score of 84 compared to an NPS average for the credit industry of 3. In an industry where patient goodwill is critical, it’s vital to ensure your third-party payment plan provider is as committed to the right outcomes for your patient and practice as you are.

Dental payment plans vs consumer credit

A growing number of third-party providers who market payment plans are actually providing consumer credit. This has implications for the credit provider, the practice and the patient. If the provider guarantees the payment up-front then your patient is often entering a consumer credit contract.

This involves conducting a credit check before approval and may require the patient to pay higher rates of interest or higher fees charged to the practice. Also, a third-party provider offering consumer credit often requires a licence to do so.

Future proofing your practice 

DentiCare is a tried-and-trusted payment plan solution offered by over 1400 practices across Australia to increase treatment acceptance. DentiCare payment plans don’t rely on consumer credit or require credit checks. Payments to the practice are guaranteed and paid on time, to ensure peace of mind. The patient can spread the cost and get the treatment they otherwise couldn’t afford without the worry of passing an approval process or experiencing ‘bill shock’.

A payment plan facilitates a positive experience, with the patient more likely to return to your practice and recommend it to others.

Payment plans enable a steady flow of income over time allowing for dental practitioners to plan growth, take time out of the business, or invest back in the practice without worrying about month-to-month revenue.

In the new dental economy, we provide practices with a competitive edge and predictable cashflow, with the comfort of knowing that we positively safeguard your patient goodwill.

To learn more about the benefits of partnering with DentiCare to offer payment plans that increase treatment acceptance and grow your practice, call 1300 633 472 or email: myregistrations@denticarepayplans.com.au

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