Paying for your dental treatment: Dental financing plans.
Finding dental financing shouldn't be too hard.
It's pretty common that a dentist will offer some type of dental financing or payment plan to their patients that allows them to budget the expense of their dental treatment over time. They do this because they know that the cost of dentistry can be substantial. So much so that it can act as a barrier that prevents many patients from scheduling the treatment that they need, or want.
Dentists have learned that by offering their patients a dental financing, credit or loan program that they can help to lower the financial barrier associated with dental treatment and as a result keep their appointment books full. The specific payment plan that is offered will of course vary. Some will be in-house financing, meaning that it is entirely arranged for and serviced by the individual dentist or dental office. More likely, a dental credit or loan plan will be offered from a third party. There is no shortage of commercial lenders that are eager to participate in the dental financing / credit / loan business.
The subject of dental financing contains some surprises.
As we researched this topic, we soon discovered that the dental financing industry was somewhat different than we first imagined. For example, did you know that those dentists who offer a third-party dental credit program in their office typically end up paying fees when their patients choose to participate in the plan?
We have things like that to share with you on our pages. Of course, it's not just all information about dentists. We have information pertaining to patients too, especially a long the lines of what to watch out for when you are considering financing your dental treatment. Here's a general listing of the topics we discuss:
What are the usual selling points that commercial dental financing and credit programs feature?
Here's a list of those features that you'll likely find bundled in any commercial dental financing program offered to you through your dentist's office.
|
Do these terms look familiar? Possibly they seem similar to the credit plan that you've been offered by the furniture store down the street or big-box home supply store. It's probably pretty close.
Anyway, our next page discusses some of the subjects and points that we think you should keep in mind and possibly watch out for when considering financing your dental treatment costs.
Make sure your dental financing plan is a good deal for you, not just your dentist.
Some patient's decision to enter into a dental financing agreement may be swayed by the fact that it is being offered to them by their trusted dentist. With the exception of some type of budget plan that is offered to you directly from the dentist at little or no interest, you need to keep in mind that any loan or financing plan that you are offered is a business arrangement. Not just a simple act of good will.
The dentist has decided that the financing plan offers advantages for them and that is why it is being offered to you. The financing plan may offer advantages for you too, but keep in mind that it is a straightforward business deal and its terms need to be scrutinized as such.
We would also state that we have seen promotional materials of dental financing companies that claim a relationship (sometimes an endorsement) with various professional associations (including the Academy of General Dentistry, the American Academy of Periodontology, the American Association of Oral & Maxillofacial Surgeons and the American Dental Association).
Don't be unduly influenced by this advertising. We would anticipate these relationships are much more motivated by the financial concerns of the organization or its dentist members as opposed to the financial well being of dental patients.
