What Can Patient Financing do For Your Practice?

The Strengths of Patient Financingpatient financing

Are you seeing between 24 and 50 new patients every month? If the answer is no, then how can you change your marketing strategy to increase the number of new patients coming through your door? With a new marketing strategy and patient financing, you can start seeing immediate results.

Build Your Strategy

To develop your marketing strategy, you have to know what separates you from other practices in your region. Write down a list of strengths and weaknesses. You can usually count on past patient experiences to nail this down. It’s important to be as honest as possible because with a comprehensive list, you’re going to build a better marketing strategy.

Projections

Think about where your growth will come from. Are you introducing new technology that you can market to potential customers? Are you adding another dentist to your staff? Are you going to start focusing on more cosmetic procedures? Furthermore, when you look forward to the coming months, is there anything that will threaten business, like the economy or a nearby business shutting its doors. These could affect your current patients and lead to a decline in numbers.

Incentivize

Make sure that you include in your marketing strategy a patient referral program that rewards current patients for bringing new business your way. This works well for dentists that offer it because it makes your current patients feel valued, and they love the chance to save a little money on their next procedure. Furthermore, when your patients tell their friends about you, that type of referral really motivates them because it’s coming from a trusted source.

Differentiate

Another method of improving your flow of patients into your practice is to take a look around at what your competition is doing and do it better. For instance, if you blindly put up an advertisement for $100 off teeth whitening treatments, yet the overall price is still higher than your competition, you’re going to lose money on that advertisement. You need to differentiate yourself, and the way to do that is to know what others are offering.

Patient Financing

One thing you most certainly cannot leave out of your strategy is patient financing. Insurance will only cover a portion of your patients’ bill (or none at all), which is why many of them will decline treatment that they need. Many can make low monthly payments when patient financing is available to them. It’s something that more and more practices are doing today so don’t be left behind.

At The HELPcard, we specialize in assisting practices just like yours with patient financing. Contact us today and let’s begin building a customized solution for you and for your patients.

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