This article is sponsored content brought to you by Centaur.
Have you ever thought about what your practice loses in all the forgotten or unaccepted treatments? Imagine what it would mean to be able to convert even 50% of these treatment plans.
For a patient getting orthodontic work, whether it be for themselves or their kids can be a costly exercise—but a necessary one in order to gain the smile they’ve always wanted and boost their confidence!
To put it in perspective, the average size Australian dental practice has about $600,000 sitting in incomplete treatments which represents a huge amount of revenue potential and an opportunity to start converting the unaccepted to accepted.
Every patient who enters your practice is presented with a treatment plan which could either be a few simple procedures or a complex surgery. A huge amount of these treatment plans are not completed for a variety of reasons leaving the patient’s oral health to deteriorate and your revenue potentially in decline.
Thankfully, there are many payment solutions you can offer your patients such as National Dental Plan (NDP), in helping them finance these kinds of dental changes so that money issues do not become an obstacle.
Until now, accessing the benefits of a payment plan for patients has been complicated and time-consuming, resulting in fewer patients accepting treatment.
Developed with dentists for dentists, NDP is the first Australian BNPL of its kind in the dental industry allowing patients to borrow up to $12,000 interest free while your practice gets paid upfront.
NDP is a partnership with Australia’s third largest payment plan provider, Humm, and Centaur Software, developer of Dental4Windows. NDP is the only BNPL provider in the world developed by the providers of a dental practice management software thereby assuring a seamless and organic integration of both software systems.
The beauty of NDP is that even though it is directly integrated into Dental4Windows, NDP can be used in conjunction with any practice management system.
The development of this innovative product within the dental industry has resulted in some of the following benefits.
- Access 2.3 Million Customers
- Interest free always
- Get paid upfront: Your practice will get paid for the full treatment upfront
- Increase treatment plan acceptance: NDP has proved to increase treatment plan acceptance by up to 50%
- Increase treatment plan value: The value of a patient’s treatment plan has grown over 50% in the last two years.
- Higher than average approval rate: There is a 94% approval rate for all patients applying for NDP which has significantly increased the number of patients accepting treatment.
- Weekly repayment term and borrowing limit of $1500, National Dental Plan offers patients up to $12,000 to finance their treatment plan and spread it across installments over terms up to 24 months.
- Practice Cashflow Management: Given the expensive nature of dentistry in general, a typical patient cannot afford to pay out of pocket expenses on the day. This leads to outstanding and overdue accounts, which impacts the practice cash flow. Practice resources allocated to debt collection tasks increase this negative impact. NDP solves this challenge in two ways; full payments for the work done and full upfront payments for any treatment plans accepted.
With NDP, orthodontists and dental practitioners are now able to offer their patients a solution specific to the dental industry in treatment plan finance.
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