Offering Patient Financing Options to Increase Business at Your Dental Practice
Being a savvy businessperson may not be something that’s taught in dental school, but it needs to be on your mind as you look to grow your dental practice. There are a number of ways to improve the way you operate your business, one of which is offering patient financing.
The first steps many business owners take when looking to grow their business, regardless of the industry, is to improve their marketing services. Dental practices can face an uphill battle in the war to win over public sentiment with the lack of insurance coverage for dental care. However, if you approach your marketing efforts from the viewpoint of an expert delivering facts about the importance of good oral health, you can become a thought leader and help others understand the value of good dental care.
Marketing involves a great deal of public outreach, which means your social media game has to be on point. Connect with your local residents through Facebook, Twitter and any other platform that is relevant to your target audience. Also, run the traditional routes of advertising your services through advertising in local print media.
While it’s important to focus on outreach, it’s equally important to keep an eye on what is going on internally, especially with inventory. You need to keep an accurate record of all supplies at all times. This should be somebody’s specific job if it isn’t yours. It’s important because you should always have everything you need to treat your patients, but not so much that you’re wasting money on inventory you don’t need.
Billing is an area that most dentists can attest to being of utmost importance. Automating your billing practices can take a heavy burden off your employees and keep patients on a regular payment schedule. Not only will it keep regular payments coming in, it will also reduce the labor costs associated with billing. There are a number of software solutions out there that can help you.
When it comes to payment, consumers today expect financing wherever they go. When you offer patient financing through a third party, you’re putting more power in the hands of your patients. Patient financing not only empowers your patients, it also adds more money to your bottom line. When you recommend a service that is out of the reach of your patients’ insurance and/or checking account, your patient financing solution can step up to guide them to a payment option that works for them. With low monthly payments, they can pay back their debt and receive the dental work they need to achieve better oral health.
Contact The HELPcard today and let’s talk about our patient financing solutions and how they can work to pull in more customers, more often, for longer periods of time.