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The Financials


  • It’s essential to provide your guests with absolute clarity around financials

  • Insurance doesn’t always benefit the guest

  • Collect payment before treatment to reduce cancellations and collections

One of the most important parts of providing a great customer experience is ensuring the financials are crystal clear to your guests. Several things can go wrong with the financials, but it’s best to avoid errors as much as possible. From financial presentations to insurance estimates, much goes into providing financial information to your guests.

The financial presentation

When you complete a treatment plan for a guest, the next step is to run them through a financial presentation. If possible, it’s a great idea to have a dedicated team member responsible for financial presentations. This team member will look at the guest's treatment plan, then check their insurance coverage if they are using insurance. If a guest doesn’t have insurance, then it might be best to provide them with the recommended treatment plan and possible alternatives that are less expensive if money is a concern.

If a guest relies solely on insurance coverage and won’t be paying out of pocket, you’ll need to adjust their treatment plan if it isn’t covered fully by insurance.

Once you have the financial presentation finalized, then you can relay it to your guest and have them sign it. They must read everything thoroughly and understand their treatment plan and the cost—you want to avoid any miscommunication or misunderstanding. Transparency and clarity are essential.

Financing before treatment

If possible, you should train your team to collect payment for treatment before the guests come in for said treatment. Now, we know this can be awkward for some team members. Asking people to hand over money before they’ve received something isn’t always easy. However, requiring payment before treatment has a few benefits. Firstly, guests who have already paid for treatment are likely going to follow through with it, which will decrease your cancellation rates. Secondly, collecting payment before treatment will also reduce your collections.

The downside of insurance

Many people get treatment based on what their insurance covers rather than what they might need. In some cases, people need extensive treatment that costs more than their insurance covers, but they choose not to. This is one of the downsides of dental insurance. As oral care providers, we always want to encourage guests to invest in their oral health and get the treatment they need.

Honestly and clarity are best

When it comes down to it, honesty and clarity are the best policies when it comes to providing financial information to guests. You always want to provide them with accurate information. Providing great customer service and providing an experience above the rest is the goal, so be sure to do that during each step of the guest's journey.

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