Inspiring Patient Confidence to Grow Your Practice

Merely providing quality treatment isn't enough; the true engine for sustained practice growth lies in inspiring patient confidence. Assured patients are more likely to commit to treatment, return for care, and become enthusiastic referrers. Mastering this assurance is the most reliable strategy for turning a satisfactory visit into lifelong loyalty and growth. Keep reading to learn how to make confidence your practice's greatest asset -- and if getting the messaging out there on content patients is something you need help with, just give us a call. We can absolutely assist. 

When I sit in the dentist’s chair, I’m not just a senior executive in the dental space—I’m also a mom who wants the best care for her family. So, it’s no surprise this dual perspective shapes how I view dentistry:  as vital to health and wellbeing as any annual medical appointment.

This sentiment is echoed by 91% of surveyed adults in America, yet for many patients, the uncertainty around costs can overshadow their confidence in care.

Working at the intersection of dental and finance, I often ask myself, “What’s next? How can I go beyond supporting the patient journey at dental practices?” When I think back to my personal experiences in the dentist’s office, costs have always been top of mind.

I think a lot of people can relate to this feeling, and in fact, Synchrony’s Dental Lifetime of Care Study highlights that only 30% of surveyed respondents find understanding dental health expenses easy, that could leave 70% of people sitting in the waiting room feeling uneasy about the payment process, and confused about their dental expenses.

These insights play a large role in why I think prioritizing financial transparency is the first step in addressing gaps in care and reflect a larger need for an industry shift in how we can improve the patient experience. 

Identifying the Gaps and Looking Ahead 

The U.S. dental market is projected to reach $216.33 billion by 2030, driven by advances in technology, patient awareness of the importance of care, cosmetic preferences, and specialized services. Yet, Synchrony’s Dental Lifetime of Care Study highlighted that 92% of surveyed adults would consider holding off on general dental care due to costs.

As patients delay services due to costs it may not be unique to dental, and to me, could reflect the broader picture of how patients are juggling prioritizing care and paying for it. 

I don’t discredit the strides we’ve made within the industry to raise awareness of the link between oral health and overall wellbeing. But if patients delay care due to cost concerns, it’s important for dental providers to recognize that patients may need them to offer financing options. It could even be an opportunity for providers to inspire confidence, build rapport, and empower people to prioritize their oral health. 

When providers partner with patients earlier in the dental care process, patients may feel more confident and well-informed not just about their care, but their financial options as well. 

Clear, Accessible, Consumer Credit Education

One of the most exciting initiatives for me is the launch of the Fair Financing Principles—a resource  easily accessible for providers and consumers who want to learn more about their options to finance care in way that works for their budget. In my opinion, these and resources tools can help redefine how consumers and providers take proactive measures to address cost of care from the start.

This page offers several tips and resources such as: 

• Procedure Calculator: This resource provides the estimated cost of more than 700 health, wellness, and veterinary care procedures based on zip code, represented by the average cost from the top 3 cities within each state across the U.S. This tool helps people plan for care, and how to pay by knowing estimated costs upfront.
• Payment Options: An explanation of options to pay for health and wellness expenses not covered by insurance. From ensuring you’re maximizing your insurance to using a Flexible Spending Account, it’s important for people to know their options.
• Promotional Financing Overview: Easy-to-understand explanations of different promotional financing options available with the CareCredit credit card, as well as an overview of how deferred interest and reduced/fixed APR work.
• Payment Calculator: Estimates a patient’s monthly payments based on the amount financed and the promotional financing option selected, so people can determine if the care they want can fit into their budget.
• A Sample Billing Statement: Offers guidance on how to read and find important information on monthly statements, such as the amount owed if a balance remains at the end of the promotional period. 
• Provider Tips: Health and wellness providers share how they help ensure patients understand their financing options, as well as questions patients should ask their providers about paying for care.

Many of us have had those uneasy moments in the dentist office trying to figure out “How much will this cost?” and “Can I afford it?” As the healthcare, economic, and dental landscape continue to shift, it’s more important than ever for providers to recognize their role in supporting patients’ understanding of financing options. 

Providers’ Role in the Patient Journey

Providers play an essential role in helping patients understand their dental costs. As healthcare spending rises, so could patient uncertainty–but communication, awareness, and information may help reduce this anxiety.

Start by explaining the cost of the recommended care, what is covered by insurance and what is not. For the out-of-pocket-costs not covered by insurance, review their options, potentially including in-house payment plans, health savings accounts (HSA), flexible spending accounts (FSA), third-party financing options and financial assistance (if applicable). The goal is to create an environment where patients feel supported and understand their options. 

As patients consider where to pursue care, Synchrony found that over-half (59%) of surveyed consumers said offering financing options were extremely or very important in where they pursue treatment, yet over 56% of surveyed providers said they do not have the staff or resources to support patients in finding alternative payment methods.

In my experience, one way providers can expand financing options for patients is by collaborating with a third-party financing partner that can seamlessly integrate into current practice management software systems (PMS) and help patients apply for credit for health and wellness needs.

Today, it may seem like there are more financing options than ever before, but not all financing options are created equally. Choosing a financing partner that values increasing patient credit access and recognizes the value of accessible consumer credit education for responsible planning, in my opinion, supports both patients and the future of the dental industry. One of the parts I value most about my work at Synchrony is providing resources that support both people’s health and provider’s businesses.

By helping to promote a standard of transparency through resources like the Fair Financing Principles, dental practices can help empower patients with resources to support well-informed and confident decisions about how they pursue and finance dental care.

Ready to turn patient satisfaction into unstoppable growth? Our team provides dental management solutions and guidance to help dentists build unshakable trust and confidence. Ask about our Everything Package and our success stories. Call us today at 561-777-2439, or find us on Instagram!

Reference: [https://www.dentistrytoday.com/unlock-practice-growth-by-inspiring-patient-confidence/]