Does your practice offer patient finance?

Does your practice offer patient finance? If not, then Medenta business development manager, Andy Thomas explains just what patient finance is and how, especially during a cost of living crisis, it can help patients gain access to treatment.

Times are hard for most people financially, at the moment. The cost of everyday living has risen alarmingly over the past few months. And, thanks to a shortage of salad, amongst other things, inflation has shown no sign of the promised downturn.

Anecdotally there may be a slight dip in the demand for straighter, whiter teeth but there are still more than enough patients to go round.

The availability of patient finance from companies such as Medenta, means patients still elect to take up treatment plans as they’re able to spread the cost over a number of months, even if they have the funds available.

In this video, he delves into several aspects of patient finance and explains how it can be a brilliant tool to help patients to access the treatments that they want/need.

Other benefits

Treatments costing several thousands of pounds which, at first sight, may appear unaffordable, become feasible with patient finance. People only need worry about meeting the monthly cost, rather than the whole amount. The issue of affordability ceases to become a problem.

Patient finance can also attract new patients to a practice. Dental teams have reported that one of the first questions many new patients ask is: ‘Do you offer finance?’

Being able to answer ‘yes’ to that question can mean the difference between them coming to you for treatment or going elsewhere.

Andy also outlines other benefits of patient finance such as improved cash flow, decreased bad debts and improved staff morale. All great reasons to say ‘yes’ to offering patient finance.

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