How Dental Patient Financing Has Changed the World for the Better

Getting dental procedures done is no-longer expensive. With the introduction of patient financing, affording even expensive treatments has become easy. Whether it’s for dental procedures or any other medical treatment, patient financing has brought a revolution in the healthcare industry. 

What exactly is patient financing?

Patient financing has a plethora of benefits. It covers you from any mishappening and helps in fighting against diseases and health risks. Also, it is beneficial for federal income tax. It covers your medical bills, day-care surgeries, hospital bills, ambulance coverage, and cosmetic surgeries. The list is endless. As our lifestyle changes, due to the tectonic shift, it would be unwise not to have your health covered and financed.

How does Denefits patient financing help in retaining patients?

Denefits patient financing plan can actually help your practice to retain as well as expand the patient base. Once you offer Denefits patient financing plan to your patients, 

They can pay for the treatments, conveniently: Denefits offers the patients to pay medical bills in installments, monthly or even yearly. Hence, patients don’t have to think about unexpected medical expenses.

They feel privileged: Denefits patient financing plan makes patients feel privileged. They get instant approval that too without any credit checks. They get an option to choose the best practice in town.

They trust your practice: When you confer them with the best financing plan, you gain your patient’s trust. You and your patient then start to work on a long term and fruitful relationship.  

They might not have to think about out-of-pocket medical bills: Ailments are indeed unexpected and might weigh on your patient’s pocket. With Denefits patient financing services, they don’t have to worry about these sudden expenses. 

They will recommend you to their acquaintances: You give the best service, we bet, your patients will definitely promote your practice. This is all about give- and-take policy. You provide extraordinary service to them, your patients will stay loyal to your practice. 

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Top ways to finance an expensive dental procedure

Dental procedures are really expensive. And this is one of the biggest reasons that people avoid going to the dentist.

According to a report by the Federal Agency for Healthcare Research and Quality, from 1996 to 2015, there was a 23% increase in the cost of dental care per person.

Having said that, putting your health at risk because of expensive dental procedures is not wise. Oral health is related to overall health and risking it, can lead to serious health issues, like heart problems.

Dental insurance plans are often sold separately as most medical plans do not cover it. Also, it should be noted that even if you have a dental insurance plan, it does not guarantee to cover the cost of an expensive procedure.

However, there are ways that can help you pay for your expensive medical procedure. For instance,

Insurance for Dental procedures

When you opt for medical insurance for dental work, it may offer coverage for the procedures it considers ‘medically important’. Also, these procedures may differ from provider to provider. As mentioned, dental health can potentially impact the rest of the body. And, there can be a slight difference between what’s considered a dental procedure and medical procedure. Hence, all dental procedures aren’t covered the dental insurance. So, if you opt for insurance for dental work, do not forget to ask the insurance company the procedures it will cover.

Payment plans offered by your dentist

Considering the fact that dental procedures aren’t cheap and people find it difficult to afford them, dental offices have introduced patient payment plans option. It allows patients to pay for dental work in convenient monthly installments. Hence, paying monthly becomes easier for the patients rather than paying an upfront lump sum amount. Some companies who offer payment plans consider checking their credit scores. However, there are companies such as Denefits, who instantly approves the customers as there is no credit score. This way you can afford any dental work and you are just required to pay a monthly amount.

A health savings account

A Health Savings Account or HSA is another option to finance your dental work. It gives you the ability to put pre-tax money each month and then use it to pay for medical expenses, which also include dental work. HSA also helps to lower your overall health care costs as it pre-taxed money.

Dental Loan

You can also consider taking a personal loan. A personal loan can be used for anything and because of its flexibility, people use it to pay out-of-pocket medical expenses.  But it should be noted that personal loans have a higher rate of interest. So, paying back the amount may become challenging for people who are on fixed incomes.

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