Improve your customer service with new SmileCard patient finance

Research that regularly makes the 6 o'clock news clearly shows that Australians fund a significant proportion of their lifestyles using various forms of credit including credit cards, personal loans, store finance and interest free payment plans.

Dentistry has moved along with the times through sheer necessity to the point where most practices offer some form of credit facilities, typically credit cards, driven by customer demand.

"Patient financing programmes are simply a further step in the evolution of servicing the needs of your customers," explains Carl Burroughs, the founder of Dental Financial Services Pty Ltd, who have just launched their SmileCard dental-only patient financing facility.

"Most dentists draw very few parallels with their businesses and very focused consumer marketing organisations like Harvey Norman, but there is one very salient commonality: you are both competing for the limited funds of your patients.

"What the major retailers of the world have learnt, however, is that saying to customers, 'here, have this plasma TV, enjoy it now and pay me $100 a month for the privelege', is a lot easier sale than asking for $5000 up front. We no longer live in a society where people are predisposed to saving their pennies and working towards a goal that they enjoy at some point in the future. They want it now and they want it to be as easy as possible."

Mr Burroughs said that while many dentists he spoke to at the Adelaide Congress were seemingly almost affronted by the notion of their patients financing dental treatment, the average member of the public is well versed in using credit and does not differentiate dental treatment from other products in the same way a dentist would.

"The public uses credit with impunity for all types of discretionary purchases," explained David Johnson, the newly appointed CEO of Dental Financial Services. "Yet when they really need dental treatment that could restore vital functionality and quality of life that essentially shouldn't be optional, they are presented with an onerous quote for the cost of treatment but in many cases, no real choice.

"It's of course ridiculous to think there will be signs on dental surgeries offering a brand new crown for only $19.95 a month, however, when you present comprehensive treatment plans, giving patients the option of paying for treatment in instalments at a better rate than a credit card means that they too can have their treatment now and enjoy good oral health for years to come. From a clinical perspective this has many advantages. Without this option, treatment may never commence or be completed. If you really believe that the proposed treatment is needed by the patient, then you need to work through all the barriers that are preventing this from occurring. In some cases, the barrier may be dental phobia or a lack of commitment by the patient to the treatment plan or other factors which it may or may not be possible for a practitioner to overcome. However, if you have a motivated patient who is ready to go but cannot afford a lump sum payment, then assistance should be offered to them."

Mr Johnson said their SmileCard patient finance product enables practices to offer the best possible treatment to their patients by overcoming the obstacle of cost, thus allowing a practice to able to deliver more comprehensive dentistry and complete treatment in a shorter time frame.

"SmileCard pays the practice for treatment on behalf of the patient, which is excellent for your cash flow and there is no recourse to the practice should the patient not repay the SmileCard loan."

According to Mr Johnson, to apply for SmileCard, the patient, with the help of practice staff, makes a simple phone call and within a few minutes, they can be approved.

"SmileCard has been designed with the credibility of the dental profession as its first concern. No gimmicks like interest free periods that cost you a fortune off your bottom line; just a highly efficient, easy-to-use finance facility at sensible interest rates to your patient.

"SmileCard will also attract you patients to your practice. Having the facility in place combined with our in house patient education program will differentiate your practice and attract new patients who find the facility appealing. In addition, as soon as you become an accredited SmileCard practice, you will benefit from the SmileCard patient education program, which includes a National TV awareness campaign, Find-a-Dentist website, cooperative advertising support, sales collateral and a PR campaign."