Townie® Poll

Patient Financing

Poll conducted from 3/7/2008 To 5/2/2008

Are you currently requiring auto-drafts from patients choosing your in-office payment plan?
48 total votes
46%
a. Yes
54%
b. No
Do you ever extend payment plans beyond treatment time?
113 total votes
5%
a. Often
63%
b. Sometimes
32%
c. Never
Do you pull a credit report to determine risk before offering a payment plan?
114 total votes
18%
a. Often
10%
b. Sometimes
72%
c. Never
Do you offer third-party financing?
113 total votes
81%
a. Yes
19%
b. No
What percentage of your patients choose third-party financing?
114 total votes
75%
a. 1-25 percent
5%
b. 26-50 percent
1%
c. 51-75 percent
0%
d. 76-100 percent
18%
e. We do not offer third-party financing
Have you noticed an increase in the number of declines from third-party finance companies?
107 total votes
25%
a. Yes
75%
b. No
What is your biggest challenge in managing your office payment plans?
111 total votes
40%
a. Managing a divorce situation
20%
b. Explaining how insurance and/or flex plans work
4%
c. Declined auto payments then patients "no show" for appointments
5%
d. Having custodial parents sign financial arrangements - not "step-parents"
0%
e. Managing accounts when bankruptcy has been filed in court
32%
f. All of the above
How do you deal with an account when bankruptcy has been filed?
109 total votes
15%
a. Remove the braces and dismiss the patient
24%
b. Complete treatment and accept what has been paid on the account
61%
c. Write-off the existing balance and re-negotiate
Do you consider a "dismissed bankruptcy" on a credit report a high risk for your practice?
106 total votes
72%
a. Yes
28%
b. No
Do you have online payments available for your patients?
113 total votes
30%
a. Yes
70%
b. No
What amount is the down payment you currently request?
113 total votes
8%
a. None
3%
b. One to four percent
6%
c. Five to seven percent
83%
d. Eight percent or more
Have your patients ever delayed the start of treatment because they couldn’t immediately pay cash for the down payment?
112 total votes
88%
a. Yes
12%
b. No
How long are you willing to extend in-house financing to your patients?
113 total votes
8%
a. Up to 6 months
4%
b. Up to12 months
23%
c. Up to 18 months
42%
d. Up to 24 months
23%
e. More than 24 months
How would you describe your practice’s case starts for January to March 2008 compared with January to March 2007?
114 total votes
22%
a. Significantly fewer starts in 2008 (off by more than 10 percent)
26%
b. Slightly fewer starts in 2008 (off by 10 percent or less)
33%
c. More starts in 2008
18%
d. Same
In the next 12 months, how do you see your use of third-party patient financing?
113 total votes
26%
a. Increasing
6%
b. Decreasing
68%
c. Staying the same

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