The FinMkt Blog

Multi-Lender Financing for Dental Practices

Multi-Lender Financing for Dental Practices

For Americans without dental benefits or gaps in their coverage, necessary dental healthcare can be expensive if not entirely cost prohibitive. According to the American Dental Association, 33.6% of adults ages 19-64 do not have any dental benefits. Of the 59% of adults with dental benefits, many procedures are often not 100% covered. Cosmetic dentistry, including dental work that improves the appearance of teeth, gums and/or bite, may not be covered at all. Flexible and convenient patient financing options improve access to traditional and cosmetic dentistry treatments, creating a better experience for dentists and their patients. 

By providing patients with access to affordable financing options, dental practices can elevate their patient experience and allow for full treatment acceptance without delay. This is better for the patient’s overall health and can save them money in the long run. There are a number of patient financing options for traditional and cosmetic dental practices. When choosing a patient financing solution, dental practices should consider a number of factors for the best experience for the patient and the practice.

  1. High Approval Rates

Single lender patient financing solutions only provide financing to patients within a narrow range on the credit spectrum. This often results in approvals only for those with the best credit, leaving a many patients without financing options for their dental work. 

Multi-lender solutions like FinFi Dental Financing provide financing options to patients across the credit spectrum for much higher approval rates than single lender solutions. FinFi Dental Financing has multiple lenders who provide financing to patients with sub-prime, near-prime and prime credit profiles. Higher approval rates allow dental practices to offer financing options to more patients.

  1. Approval for Full Amount

Offering patient financing is a great way to make procedures more affordable for more patients. However, it’s only effective if the financing options cover all or most of the treatment costs. If a financing option only covers a fraction of the total cost, it is not helpful for patients. 

  1. Easy to Use

Finding a dental financing solution that is fast and secure for patients and simple to manage for staff is critical. FinFi Dental Financing allows patients to complete a simple financing application securely from their own device, review prequalified offers in realtime and complete necessary financing documents, all within a few minutes. Patients can then schedule their treatment with confidence, knowing the financing needed to pay for services is in place.

  1. Customer Service

Dental practitioners are in the business of healthcare and patient service. Learning financing and new technologies can be daunting for office staff. Choosing a patient financing platform with live training is key when incorporating a new financing platform and live daily support is critical when patients are in the office and ready to accept a treatment plan. FinFi Dental Financing offers both. 

Like all healthcare providers, traditional dentists and cosmetic dentists provide a holistic approach to patient care which includes providing affordable payment options. Expensive treatments and procedures are made more affordable by allowing patients to pay over time with monthly payments and allow for full treatment acceptance to provide the best care possible.

About the FinFi Dental Financing Platform:

Product Features:

• Terms from 24-60 Months

• APRs from 7.99%

• Financing up to $40,000

Platform Features:

• Easy to use

• Providers funded directly

• Live support 7 days a week

Contact to learn more!

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