“Great communication helps doctors and teams explain patient financing benefits and encourages patients to move forward with needed care.” —Doug Hammond, Senior VP & GM, Care Credit Core
The Cost Barrier in Dentistry
Fear of cost is the primary reason patients delay or avoid dental care. An American Dental Association survey revealed that most patients would struggle to afford a $500 dental procedure without insurance or financing options. If you track incomplete treatment, you’ll likely find a wealth of untapped productivity within your existing patient base.
Increasing patient acceptance doesn’t just require new patients—it requires effective financial communication. Steven R. Covey emphasized “sharpening the saw”—refining skills and systems. The same applies to your patient financing approach. A well-communicated financing program can significantly impact your bottom line.
Making Successful Financial Agreements
Patients seek care because they need or want it. Without a financial agreement, treatment won’t proceed, and both the patient and practice lose. Your entire team must recognize that a patient leaving without scheduling due to financial concerns is a lost opportunity for them as much as for you.
Three Key Elements of Financial Discussions
Product and Service Knowledge
Your financial coordinator should confidently discuss recommended treatments, appointment lengths, and costs. Patients often ask financial coordinators questions they hesitate to ask the dentist. A strong financial discussion closes the case, not just clinical approval.Money and Financing Knowledge
The financial coordinator must understand all available options, explain them clearly, and handle objections with confidence. Financial communication is a skill that requires ongoing training. One accepted major case can justify investing in team education.Effective Documentation
A clear, written financial agreement prevents misunderstandings. The financial coordinator should also manage insurance and financing processes efficiently. Any hesitation or lack of preparedness can jeopardize case acceptance.
Conducting Effective Financial Discussions
Privacy Matters: Discuss finances in a private space, not at the front desk. Patients may avoid asking questions if they fear being overheard.
HIPAA Compliance: Ensure financial discussions protect patient privacy.
Minimize Interruptions: Disruptions can lead to errors, frustration, and decreased case acceptance.
Integrating Financial Conversations Into Case Presentations
Dentists should address all clinical questions before discussing costs. If a patient asks about price upfront, redirect the conversation:
“Mrs. Jones, I understand cost is a concern. My financial coordinator, Melissa, will explain your investment and payment options after we discuss your treatment goals. Does that sound good?”
This keeps patients focused on treatment benefits before financial concerns overshadow the conversation.
Presenting a Patient Financing Program
Frame financing as a patient benefit:
“Ms. Jones, we offer a convenient financing program, ABC Financing, allowing you to spread payments over time. The application is quick and easy, with instant approval. Once approved, we can schedule your treatment immediately. If affordable monthly payments make this possible for you, shall we proceed?”
Handling Objections
Objections signal interest. Address concerns with confidence:
Objection: “I’ve been paying Dr. Jameson directly for years. Why change now?”
Response:
“We still offer long-term payment options but through ABC Financing. This allows us to focus on providing excellent care while keeping fees stable for all our patients. Many appreciate the convenience and extended payment terms.”
Effective financial communication directly impacts case acceptance and practice growth. Train your team to confidently present financing options, answer questions, and handle objections. Mastering these skills leads to higher case acceptance, a healthier bottom line, and greater patient satisfaction.
