How to Make Patient Financing and Payment Plans Work for Med Spas
Time to generate more patients for your med spa! In this interview, Melinda Kosareff shares why you NEED patient financing and payment plans and HOW to effectively increase your revenue. You will also learn exactly how to get started, making it easy to add an additional layer of profitability to your med spa!
In this episode you will LEARN:
- How to bridge the gap between financing and med spa treatments.
- How to take advantage of a finance platform with NO credit checks.
- How to offer added value to clients with simple and easy payment options.
- The key benefits of having patient financing and payment plans.
Make Your Treatments Accessible and Affordable with Patient Financing and Payment Plans...
In this episode, I speak with Melinda Kosareff the Vice President of Operations for Denefits Patient Financing — a risk-free Patient Financing and Payment Plan company. They are a unique financing platform that allows healthcare providers across North America make their services more affordable to patients.
Melinda explains that whether a patient has a low credit score, cannot qualify for financing, or needs additional help for a part of your treatment, she can help!
Excited to learn more? Read on!
Poor Credit Acceptable | No Credit Checks
Bridge the gap between your financing and treatments. First of all, credit score is no longer the perfect criterion to assess your clients’ ability to repay a loan. That’s why Denefits does not check credit score before financing, making your services more accessible to your patients!
Get instant approval for your patient finance and payment plans. Often, clients are anxious to schedule treatment, and they do not like to be delayed. You don’t want to keep paying customers waiting! Denefits approves financing instantly, without any delay.
Best of all, there are no hidden fees! It’s a leading solution for patient finance and payment plans for a reason.
Simple Patient Finance and Payment Plans
Give client treatments at YOUR budget. In other words, unlike most financing companies, Denefits does not charge high interest rates. As a result, their patient finance and payment plans are affordable, making it an amazing opportunity for any practice. In short, you will never have to turn anyone away.
Above all, YOU have full control of your accounts. Melinda explains that you get to choose treatment costs, down payment plans, interest rates with duration of financing, AND when you get your payments. That’s a lot of control for the practice!
So, it’s a no brainer… You’re not only offering lower payments to clients, but you’re actually earning more revenue over time through patient finance and payment plans.
Offering affordable #financing to your #MedicalSpa patients makes YOU more competitive. Approve more patients. Higher approval rates #MedSpaMarketing #MedicalSpaBranding @denefits
Offer a Down Payment Plan
Cash flow is the # 1 reason small businesses fail. So here’s a prime tip to help you avoid that obstacle. Have a down-payment plan in place that covers your upfront overhead costs. Then you won’t be so concerned about offering a patient financing and payment plan. Make sure it covers exactly what the cost of that procedure is to you!
Meanwhile, you’re making more money long term and you’re not turning away patients. In addition, if you offer value and easy payment options, patients are going to repeat procedures and come back for additional treatments.
Above all, it’s really about building longterm relationships with your clients and providing a solution for them that makes sense.
Patient Financing: What’s Not to Like?
There are several advantages to offering patient financing and payment plans:
- Increased treatment conversion rates – Patients can move forward quickly with the treatment they need or want. This means more billable services for you and a healthier bottom line for your practice.
- Better cash flow – Many patient financing and payment plans allow you to get paid at the start of treatment. This enhances your cash flow and can reduce your risk of bad debt with uncollectible accounts receivable.
- A great marketing strategy – Financing and payment plans are an often overlooked advantage. Use this as a marketing tool for your practice!
- Reduced administrative costs – Utilizing patient finance and payment plans enables you to shift the burden and the costs of billing and administering patient payments to a third party, allowing you and your staff to focus on patient care rather than patient collections.
Want more insight on Patient Financing and Payment Plans? Contact Melinda at Denefits now!
Full transcript of interview on Patient Financing and Payment Plans for Med Spas...
Guest Expert on Patient Financing and Payment Plans - Learn more about Melinda Kosareff:
Melinda Kosareff is the Vice President of Operations for Denefits Patient Financing, a no credit check finance and profitable practice with guaranteed payments for medical practices.
She is extremely proud to be a part of a company that is genuinely interested in helping both practitioners and patients move forward with their healthcare needs without worrying about treatment costs.
Above all, Melinda is a happy fur mommy to Sophie, her 16 year old terrier mix!
In her spare time, she spends time with her grandpa, making sure he is all taken care of. He is the light of her life!
She has taken on the goal of reaching out to as many practitioners as possible, so they can offer Denefits patient finance and payment plans with risk-free options.