A Financial Arrangements Secret

For years, we have talked about the “15 System” which says, after the 15^th impression or request, 90% of patients or prospects will say “yes.”

Here’s the statistics:

After you have ASKed...

4 times – 20% will say “yes”

8 times – 50% will say “yes”

12 times – 70% will say “yes”

15 times – 90% will say “yes”

That is a lot of ASKing. The tragedy is that 80% of the people QUIT asking after the first request. In other words, we ASK far too little and not often enough.

Here is a direct example and application in the dental office.

One of the most challenging tasks in the office is doing financial arrangements. In fact, more treatment is lost during financial arrangements than any other place in the office because there are not enough opportunities in the financial arrangements system in most offices to keep ASKing the patient to say “yes.” The more options you have in your financial arrangements “tool box” the more opportunities you will have to ASK.

How many financial options to do you have to offer your patients? The most effective financial coordinators we work with are masters at continually finding creative ways to help people pay for treatment without compromising the financial stability of the practice. Here are some examples of the kinds of financial options we are talking about:

• A courtesy for paying in advance of the start of treatment.
• Accepting all major credit cards.
• 3 or more forms of third party financing available in the practice.
• Monthly payment plans for whitening or Invisalign.
• 90 days same as cash with post-dated checks processed by a third party.*
• Co-signers for 3^rd party financing.
• Relatives that might help.
• Other assets or investments they might cash in.
• “Lay-away” plans where they can “save up” to have the treatment done.

The more options you have to offer, the more successful you will be at helping your patients accept treatment. Today, it is more than just cash, credit or third party financing. If all you have to offer are 3 or 4 financial options, you maybe losing 80% of the opportunities to help your patients say “yes.”

The challenge is to fill your financial arrangements “tool box” with at least 15 financial options. That’s right…15!

To help you achieve that goal, make sure to participate in our Crown Council webinar entitled, “I Can’t Afford It – Secrets to helping your patients accept and pay for treatment TODAY!” on Tuesday, November 9 at noon Central time.

During this webinar, we will present the most up-to-date information including research on every third party patient financing option available today along with the best verbal skills and financial arrangement systems to help you increase your case acceptance TODAY.

For enrollment information, just e-mail: Answers@TotalPatientService.com and request information on the “I Can’t Afford It” webinar.

In today’s environment, you have to be better - a lot better at helping your patients say “yes.” In fact, it may take 15 request or options. Just remember, the more you ASK and the more options you present, the more patients will accept.