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The sputtering economy combined with a continued demand for elective procedures have led many practitioners to embrace new and adaptive patient financing options. Third-party financing companies allow practices to collect payment for services rendered in a timely fashion while patients are afforded the opportunity to spread out payments over time.

The process is similar to obtaining a department store credit card in that the patient can apply for financing and find out if she’s approved on the spot. Patients who are hesitant to put additional charges on their high-interest credit cards and those who might not have the funds available to make a lump sum payment often appreciate these alternative payment options. As a result of these mutually beneficial properties, patient financing has the potential to both increase a practice’s bottom line and improve patient satisfaction. The key is finding a financing company that fits the practice’s culture and ensuring that staff members are thoroughly trained.


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