This is well re-searched article telling the benefits of Patients financing to doctors as well as patients. Read till the end to understand how Patient Financing can positively impact your practice.
When you finance your patients, there are several benefits of Patient Financing that you offer to your patients over the benefits that you enjoy. Here are few benefits listed below.
Benefits of Patient Financing for You
Increase Patient Base
You can now say yes to your patients. When you start financing your patients, you increase their purchasing power and thus now your patients can afford the treatments you offer. As a result, You now have more patients to serve.
Monthly Cash Flow
There is cash coming your way every month. Thus whether you have a good month, a bad month or you were just out on a vacation, you don’t need to worry about your operational costs. There is cash flow coming you way in terms of monthly installments from your patients.
Increase your range of Treatments
Now your patients can afford the treatments and therefore you can now offer relatively expensive procedures which are latest in technology.
Your Own Financial Terms
You do not need to depend upon the insurance companies terms. You are the financer, then you dictate your terms. Set your own down payment charges, late fees, rate on interest that suits your and your patient’s needs.
Secure immediate business – Patients can quickly go ahead with the treatments or procedures they want to by paying the down payment and you get to secure business from your patients.
Benefits of Patient Financing for your Patients
Patients can afford the treatments they could never. By paying a small down payment, they can pay the balance in small recurring installments each month. This way they can get good health from a good doctor and that too within their budgets.
Better Payment Terms
There is no middle man like an insurance agency, You as a doctor can decide the payment and Financing terms that suit the biggest pie of your patients
Without Patient Financing, your patients could have never afforded the treatments even if there was an emergency. Now they can afford the treatments with your help.
Another nice article on this is from Forbes. Click here to read.
Thank you for reading this. Keep coming back for more such interesting posts on Patient Financing.