How to Present Financing Options to Patients
The benefits of financing for chiropractic patients from your practice are already clear. But as a successful chiropractic professional, it may not always cross your mind that promoting financing as part of your patient consultations can also be an effective way to build trust and long-term relationships with patients, who will appreciate your proactiveness in offering them a way to affordably pay for the treatment they want.
The two key things to remember when addressing financing plans are to make sure your patients know it’s available, and to treat it as if you would any other payment option.
1. In-person conversations
During your initial consultation, address the option of financing as just that: an option. Inform every patient that meets with you that you offer payment plans.
For instance, if your patient’s out-of-pocket costs for a treatment protocol net out at $1,500, you could outline payment options like cash, checks, credit cards and patient financing- either through your practiceor a specialized third-party financing firm.
You could show patients a pre-printed comparison chart of payment plans for cash/credit/financing. This way, the entire process is encapsulated and the patient feels empowered to make their own decision.
2. Website/social media promotion
Remember that comparison payment plan chart from the in-person conversations? Make sure you include a copy of it on your website and all your social media. You could even take the sole example and expand it to show payment plans for numerous dollar amount increments that patients can select.
Once the increment is selected, the patient will be able to see his actual payment estimates and payoff times in writing – and seeing that a $1,500 cost could break down to a more affordable monthly payment in the hundreds is a lot easier to swallow.
3. Video loops in the waiting room
Chances are, your patients have to wait to see you. Why not maximize that time by providing TV monitors in the waiting room that explain the financing option and provide a CTA for the patient to enroll online via your website at the tablet in reception?
4. Printed marketing collateral
Most third-party financing companies provide marketing materials to their clients. Trifold brochures, refrigerator magnets, full-size media kits and business cards are just some of the materials you can pass on to patients.
Make sure you optimize this (often) free feature to every patient when they check in or as they check out. Sure, some may just ignore the effort, but it takes no time, and many patients might be too shy to ask. They’ll be relieved that they didn’t have to.
5. On-site training sessions
These don’t have to entail hour-long meetings or anything complicated. When a patient checks in, one of your staff could explain the practice’s payment options even before the consultation or office visit begins.
This is a perfect opportunity to pass along brochures, media kits and business cards with financing info to the patient, with the information available for him to contact the staff if he has any questions.
Offering financing can also help your practice health because it makes your services available to a wider array of patients, who might never have returned after a consultation because they assumed a treatment might be cost prohibitive. It helps you grow your practice – and help more patients.