Some of your patients may face a real dilemma:vacation or veneers. Now let’s think about that for a minute. The practical decision would be veneers – they last longer and have an impact on daily life. However, vacation feels so good! Why put your patients in this situation?
According to “Discretionary Dentistry,” an article by Raymond Willeford, MBA, CPA, CFP in this month’s Dental Economics, patients are beginning to understand that dental insurance is purely supplemental and does not cover cosmetic procedures. They’re coming to terms with that fact. They’re even pursuing more cosmetic procedures. Problem is, the “unnecessary” cosmetic dental procedures come with a price tag – and that cuts in to their discretionary funds.
Is phased treatment the answer? What about in-house financing? A payment plan?
Well, those are all okay for the patient, but what about your practice? According to the article, an ADA study found that 64 percent of their members worked with outside financing companies. In fact, CareCredit has financed more than 6 million treatments. Outside financing is a viable option for many practices and patients. Some of the bigger players include CapitalOne Healthcare Finance (formerly Dental Fee Plan) and Unicorn Financial.