As a dentist specializing in cosmetic dentistry, you constantly seek ways to serve your patients better. Consumer financing is essential for delivering an exceptional patient experience and provides many advantages to your practice and staff. This article explores the benefits of offering patient financing for your cosmetic dentistry practice.
Attract New Patients
Consumer financing is a significant draw for new patients seeking cosmetic dentistry. Advertising your financing options in the office, especially on your website, makes patients aware that they can afford your services responsibly and confidently without jeopardizing their planned monthly budgets.
Introducing the concept of financing early in your patient’s research journey is crucial to winning their business. Patients are consumers, too: they’re looking for the best product at the best value. Your website and socials should include proof of both.
Consumer financing is a valuable tool highlighting your affordability at the ideal stage in the buyer’s journey: the research phase. Showcase your flexible payment options to attract new patients as they seek the care you provide. Scheduling the first consultation is the highest hurdle to overcome. When patients know financing is available, they’re more likely to take that first step in making an appointment with your office.
Cultivate Long-Term Patient Relationships
Consumer financing is a tremendous asset as your cosmetic dentistry practice seeks to onboard new patients. But it’s equally valuable for establishing long-term patient relationships and increasing patient retention and lifetime value.
Over time, some patients might consider other practices for their cosmetic dentistry needs. But if you can offer the most flexible, simple, accessible financing option, and you know they’ve had great dental experiences with you, patients have no reason to leave you for a competing office.
Convenient financing enhances patient satisfaction and loyalty starting from day one.
Provide Accessible Treatment
Cosmetic dentistry can completely change a person’s quality of life. Your services cultivate confidence and self-worth that comes with a healthy, gorgeous smile. Your office changes lives. That’s why it’s so crucial that you make your treatments accessible to your patients. Consumer financing helps.
Offering consumer financing for your cosmetic dentistry practice reduces the upfront cost of treatments, making them more accessible and affordable to your patients. With financing options, you broaden your client base, schedule more consultations, and execute more life-changing treatments.
Even if a patient has a less-than-ideal credit score, doesn’t have cash or savings to cover the upfront cost, or doesn’t have access to traditional loans, they can still come to you for cosmetic dentistry care and walk away loving how they look.
Help More Patients Cover the Cost of Treatment
Cosmetic dentistry is a big undertaking for your patients, both financially and emotionally. With many individuals struggling to cover the basic costs of living, pursuing cosmetic dentistry can feel like an insurmountable financial obstacle. As a result, your patients might feel like they must delay or avoid suggested treatment due to budget constraints.
Offering consumer financing helps patients move forward with treatments. Flexible monthly payment plans give those under your care the confidence to choose the procedures they want and need for a smile they’ll love for a lifetime.
Increase Treatment Plan Compliance
Rarely does a patient come to your practice needing just one treatment. Most come to you needing multiple procedures and a complete plan to build a beautiful smile.
However, financial constraints can prevent your patients from following through with their plans. When urgent needs arise, cosmetic procedures will likely fall by the wayside. But this doesn’t have to be the case if your practice offers consumer financing.
Patients with access to dental financing are more inclined to stick to their treatment plan and see it through to completion. Financing allows them to comfortably manage the cost of multiple procedures over time, giving them the smile they want and enhancing their experience with your office.
Improve Cash Flow
Cosmetic dentistry practices provide new smiles—and often a new outlook on life—for their patients. While your office should employ a patient-centric approach, you have a bottom line to meet and bills to pay.
We’ve explored the many benefits of offering consumer financing to your cosmetic dentistry patients. However, your business also wins when financing is an option.
When you partner with the right consumer financing firm, your program will help you increase consultations and treatments and improve your cash flow, the lifeblood of your practice.
Your dentistry practice needs positive cash flow for day-to-day operations: payroll, overhead, new tech investments, and continuing education. These vital elements of a successful practice require cash. If you try to run an in-house financing program, you’ll soon find that missed payments, operating costs, and other dynamics affect the health of your business.
However, when you partner with United Consumer Financial Services for your consumer financing program, our team handles payment collection and reimbursement. Our process is simple:
- Enter the patient’s credit application, or have them enter it themselves
- Receive near-immediate communication of customer credit approval
- Customer eSigns the contract right from their phone or on the device in your office
- Move forward with the treatment right away
- Get paid by UCFS within 1-3 days
- Consumers make payments through autopay, with the first payment due 30 days after they sign their contract.
Your revenue is useless to you if it’s held in accounts receivable. You need access to your earnings, and consumer financing from UCFS ensures prompt delivery.
Financing Built for Cosmetic Dentistry Practices and Patients
Offering consumer financing for your practice has many advantages. Providing payment options is easy. The next step is finding the best financing firm to meet your needs.
United Consumer Financial Services has spent over four decades creating the optimal financing program for dentistry practices like yours. We know what your patients need, and we’ve built our solutions to serve and benefit your practice, too.
Don’t waste time or money searching for the perfect consumer financing plan. Connect with UCFS today to learn more about how offering financing can help you build and strengthen your cosmetic dentistry practice.