After investing in strategizing and targeting a steady influx of qualified patients, what do you do when a full mouth implant case turns into someone who cannot afford to pay, due to a subprime credit score?
Do you turn them away? Can you afford to spend time targeting only qualified leads, given the competition?
The answer is to understand and make subprime patient scores work for you (and your patients.) Surprised? Imagine the relief of that turned-away patient only to finally have a go at a life-altering treatment.
Effective Ways To Assist a Subprime Patient
Here are some creative and empathetic ways to help a “double denial” patient, justify your lead spends, and keep your revenues flowing:
1. Confidence Building
Educate your patient on credit score improvement through practical steps, such as not missing payments, avoiding additional credit, and paying back their debts.
Regularly check on them to see how they’re doing. This investment in improving a person’s outlook on life will go a long way and most definitely bring them back to your practice. For an almost $25,000 treatment, these small steps are worth the time investment.
2. Alternate Finance Options
Poor credit scores don’t mean that your patient’s family have it the same way. Encourage them to talk to people who would be willing to help co-sign a loan.
3. Packaged Services
Look at your patient’s borrowing limit and consider offering bundled services. While you might “make less” than what you would on individually priced services, it’s a win-win for both of you. Plus, your patient will continue to come back and improve their credit rating as a result.
Relationship-Based Lending Strategies
In the end, dentistry is about foresight and positive impressions. Yes, you need those qualified needs, but never miss an opportunity to make an impact. You’ll convert a patient for life.