It doesn’t matter how credible you are or the number of hi-tech devices you use in your practice if your patients can’t afford your services. Explaining in detail how much they need a procedure would amount to nothing if their current financial situation isn’t amicable to what you’re offering. This is where having flexible in-office payment plans come in, and I’ll talk about them via the Dental Hacks podcast.
In today’s episode, I wear the hat of the guest and share my thoughts on in-office payment plans. I discuss why practices should always have flexible payment options and how business owners can benefit from them. I explain how to avoid situations where the patient fails to pay for your services and what you can do about it if they do fail to pay. I also share how you can determine your risk tolerance for flexible payments and how to maximize your working hours to become more profitable.
“If you’d like to do more of the dentistry you want to do versus more of the dentistry you’re forced to do, looking at in-office payment plans is a wonderful opportunity.” – T-Bone
This week on T-Bone Speaks Dentistry Podcast:
- How in-office payment plans can help overcome financial hurdles in your practice.
- Where I learned the benefits of in-office payment plans.
- My thoughts on the problems of patients not paying practices.
- Why you should always offer flexible payment options.
- A few examples of patient transactions in my practice.
- The benefits and drawbacks of becoming a “financer” in a payment option.
- How to determine your risk tolerance for in-office payment plans.
- Maximizing your work hours to make them more profitable.
Our Favorite Quotes:
- “If you’re doing same-day dentistry, that means you have space in your schedule.” – T-Bone
- “We give every patient the menu of the financial options.” – T-Bone
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