Dental Patient Financing

Online Dental Financing Software

Quality Dental care can be expensive, and a lot of patients may struggle to afford necessary treatments without accessible financing options. According to the American Dental Association (ADA), 59% of adults cited cost as a reason for delaying their dental care in 2022. Additionally, the National Association of Dental Plans (NADP) reports that around 74 million Americans do not have dental insurance, resulting in many of them postponing or forgoing dental care. Patient financing helps bridge this gap by providing a manageable way to pay for treatments.

Providing timely and useful financing options will also improve the case acceptance rate of patients who are already in the dental office. In general, practices offering patient financing see a 15-30% increase in treatment acceptance rates. Furthermore, with financing, there is a higher probability that patients may accept comprehensive treatment plans rather than opting for minimal care. This can obviously lead to better long-term outcomes for patients and higher revenue for practices.

CareStack offers built-in integration with leading third-party financing platforms to improve case acceptance rates and cater to uninsured patients. Our integration with Sunbit, a leading patient financing platform helps dental offices to offer the best financing options to their patients. The 2-way integration also helps doctors and practices to get paid faster and brings more predictability to the cash flows at your dental office.

For the ultimate dental software, choose the solution that’s scalable for growing dental start-ups or large DSOs and still affordable for small mobile providers and single-office dental practices. Choose CareStack!

Key Benefits

Why Practices Love CareStack’s Dental Patient Financing

Manage financing operations from within CareStack without having to open and work in another system.

With Sunbit integration, you can send financing options to patients directly from CareStack.

You can check the creditworthiness and see whether a patient is qualified for financing when treatment planning.

You can Initiate a check-out from CareStack and trigger workflows in Sunbit for patients to complete the steps, and receive payment.

Payment receipts are automatically added to the patient record in CareStack once confirmation of payment from Sunbit has been received.

Main Highlights

Dental Patient Financing for Modern Dental Practice Networks

Two men discussing paperwork, with a congratulatory message from Sunbit about offering Buy Now, Pay Later services via CareStack.

A dental professional shows a tablet to an older man in a suit, displaying financial details and a pre-qualification link.

Dental professional showing a patient a tablet with procedure codes and costs. Options include sealant repair and pulpal therapy.

Improved Cash Flow and Revenue

Higher Case Acceptance RatesFinancing helps patients afford necessary treatments, resulting in higher case acceptance rates. With reduced upfront costs, patients are more likely to proceed with recommended procedures.
Comprehensive CareWith available financing, patients generally choose more comprehensive treatment plans rather than just taking the least expensive option.
Immediate PaymentPatient financing programs like Sunbit have options to pay the dental office upfront, even though the patient pays over time. This ensures steady cash flow for the practice.

Patient Retention and Growth

Higher Patient LoyaltyOffering financing options can improve patient satisfaction, as it shows the practice’s commitment to making care affordable for patients. Satisfied patients are more likely to return for future services and refer more patients to the practice.
Reduced Financial Stress for PatientsFinancing reduces the financial burden on patients by spreading the cost of treatment over time, resulting in a more positive experience.
Competitive AdvantagePractices that provide flexible payment options will attract patients who might otherwise choose a lower quality of care at another practice. Also, financing options can make dental care accessible to a broader demographic, including more uninsured and underinsured patients.

Reduction in Aging and Bad Debt

Lower Risk of Non-PaymentWith patient financing using Sunbit, the practice often receives payment upfront from Sunbit, reducing the risk of non-payment or bad debt.
Simplified Billing and CollectionsFinancing simplifies the billing process, reducing the need for following up on unpaid invoices, thus reducing the time and effort on collections.
Multiple Payment OptionsFinancing provides patients with various payment options, such as no-interest or low-interest plans. This allows them to choose a plan that fits their budget.

Feeling Limited with Your Dental Software?

CareStack’s modern user interface is easy to learn. Book a demo with us to learn how CareStack can help you improve patient growth and reduce costs.

FAQ

Why CareStack Is the Best Dental Practice Management Software

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What financing options are available to our patients from Sunbit?

Financing options commonly include interest-free plans for a certain period, low-interest plans, and extended payment plans. Sunbit may update its plans periodically.

What training or support is available for our staff?

Sunbit offers training for staff members as part of their onboarding process. Training is also provided by the CareStack implementation team at the time of onboarding into CareStack.

What happens if a patient defaults on their financing payments?

If a patient defaults on their financing payments, Sunbit usually assumes the risk, meaning your practice is not directly affected.

Are there any risks associated with offering patient financing?

The primary risk is the potential for patient dissatisfaction if they misunderstand the terms of the financing. It’s crucial to ensure that patients fully understand the terms and conditions before they agree to financing.

More questions?Contact us at
support@carestack.com