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Promotional Financing: Don't Fear the Fee!
Many practice management professionals think promotional financing is more costly than credit/debit cards, FSAs, HSAs and
even cash. But, is it really? Consider this: How much does the lack of cash, or a maxed out credit card, actually cost your practice if
it causes a patient to refuse your Optimal Treatment Plan? More importantly, what does it cost the patient? Remember, there's a
lot more than just money at stake here.
From a business perspective, financing fees are simply another factor in the variable cost structure upon which your clinical fees
are based. If you assume that a certain percentage of patients will use promotional financing, you can include a small amount to
cover the cost in your fees.
You spend tens of thousands of dollars honing your clinical skills and creating marketing programs so patients come to you. Don't
make the mistake of letting them leave your office with nary a mention of financing just to avoid the financing fees. Remember the
old saying about "A bird in the hand…"
