Patient Financing: Catering to Consumer Needs

How Patient Financing Cpatient financingan Improve Business

Dental school is a rigorous program that equips you to treat people of all ages, but unfortunately does not usually include education on how to build up a practice with smart marketing strategies or business practices.  Knowing how to market your business with important marketing strategies, such as offering patient financing, can make your venture a success. Here are some tips you can use to build up a more efficient, effective practice.

1. Make Your Brand Stand Out
There are currently around 200,00 dentists practicing in the United States. While many of the older generation of dentists are retiring, there are approximately 600 to 800 more entering the practice every year than there are retiring.

What this means is that you have to differentiate your practice from all the others in your region. This is what marketers refer to as a unique selling proposition, or USP. When you develop a proper USP you’ll see more patients coming to you for that very reason – you’ve given them the information they need to know that you are unique and can meet their needs. To develop your USP, think about these questions:

  • What are you doing that your competitors aren’t?
  • What services do you offer that you can guarantee?
  • What services can you add to your current lineup that will help you establish a more respectable USP?

2. Target Your Market

Do you know who your best patients are going to be? Your marketing message needs to be decisive, clear and injected through channels that you know your target audience is going to use.

The fast track approach is to purchase a qualified mailing list that hits on all the demographic filters that apply to the patient you want to reach out to. For instance, you want a list of potential clients that are in your area, have a specific income, have a specific value tied to their home, new residents to your community, and families that have children. You can begin by mailing postcards to these families, but you should also build a strategy that focuses on social media outreach.

3. Offer Patient Financing
Patient financing matters more than ever because consumers are accustomed to accessing financing at just about every place they shop. Furthermore, due to low-cost healthcare plans, patients are paying less for their insurance, but incurring more out-of-pocket expenses when they go to the doctor or dentist. Instead of making those payments out of their checking account, having the option to finance their dental charges and making low monthly payments becomes the more attractive proposition.

When you offer patient financing, you’re giving those patients who are considering a number of dentists the incentive they need to come your way instead of to your competitor. The HELPcard can create a financing program around your needs and the needs of your patients. Contact us today and let’s get started on pulling more patients your way.

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