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!
Advanced Patient Financing Integration Features
Improved Cash Flow and Revenue
Higher Case Acceptance Rates
Financing 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 Care
With available financing, patients generally choose more comprehensive treatment plans rather than just taking the least expensive option.
Immediate Payment
Patient 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 Loyalty
Offering 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 Patients
Financing reduces the financial burden on patients by spreading the cost of treatment over time, resulting in a more positive experience.
Competitive Advantage
Practices 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-Payment
With patient financing using Sunbit, the practice often receives payment upfront from Sunbit, reducing the risk of non-payment or bad debt.
Simplified Billing and Collections
Financing simplifies the billing process, reducing the need for following up on unpaid invoices, thus reducing the time and effort on collections.
Multiple Payment Options
Financing 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.
Benefits of CareStack Financing Integrations
Frequently Asked Questions
support@carestack.com
What financing options are available to our patients from Sunbit?
What training or support is available for our staff?
What happens if a patient defaults on their financing payments?
Are there any risks associated with offering patient financing?
Related Features
CareStack's all-in-one platform contains many additional related features, including:
