Friday, November 4, 2011

Options and Odds

The Natural Law of Options says that the more options I have to choose from as a consumer, the less likely I am to make a decision. That’s why presenting patients with too many treatment options for THEM to choose from only creates confusion and inaction.

But consider this twist: the more options YOU have to draw from to provide a solution that fits your patient’s exact situation, the greater the odds that you are going to hear a “Yes.” For example, the greater your clinical skills, the more you are prepared to provide the exact treatment the patient needs instead of having to refer it out.

Consider the same principle in financial arrangements. How many different ways do you have for patients to pay for treatment? The more alternatives you have prepared, the greater the odds are that you will have something you can present that will fit their exact financial situation.

Take a moment right now and think or write down all of the different financial options you have available for your patients. How many do you have? Three or four? When I ask people to go through this exercise, I usually get a list like this: Cash, check, credit card or some type of patient financing. (We recommend that you have at least three forms of third-party financing available…not just one.)

So if your patient can’t pay for it today, they don’t have enough credit on a credit card and they don’t qualify for third party financing, you and your patient are out of luck, right? Right…if those are all the options you can provide them.

But, what would happen if you had 10, 20, or even 50 different options at your disposal that you could use to find a solution to their specific financial situation? What would your odds be now? I think you would agree that they would significantly increase.

If you want to significantly increase your odds of financial arrangement success, join us for a special Crown Council webinar “50 Ways to Pay” on Monday, November 14 at noon Central where Total Patient Service Practice Advisor Tanya Bailey and myself will review 50 different ways that patients have paid for treatment. It will include an update on the latest developments from some of the top third party finance programs as well creative ways you may have never thought of for patients to pay for treatment.

If you have not already received an email invitation to register for the webinar, contact us today via e-mail: Answers@TotalPatientSerice.com or call 1-877-399-8677 today for more information. It will be a valuable hour packed with financial options that will significantly increase your odds of success.

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