CareCredit offers two new resources for dentists
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Posted Jan. 26, 2009 |
CareCredit, the only patient payment program endorsed by ADA Business Resources, has launched two new features to help ADA members manage financial matters in their practices.
The first feature helps a dental office create its own financial policy, customized to its payment preferences. CareCredit recently consulted with a comprehensive network of practice management speakers and compiled their best advice and techniques on how to develop a written financial policy—one which clarifies and explains the practice's guiding principles with regard to patient payments. This resource is a complimentary value-added tool for practices that offer CareCredit.
"It's important that a dental practice has a clear, defined financial policy so patients feel comfortable with their treatment and the financial arrangements they make to pay for their dentistry," said Dr. James Willey, director of the ADA Council on Dental Practice.
When dental teams communicate the patient's financial responsibilities and all payment options upfront, patients can quickly determine which financial arrangement works for their situation and can get the dentistry they want because the uncertainty and "fear of cost" issue has been addressed.
A written financial policy can benefit both practices and their patients. Having a written document that details when the practice expects payment and what types of payment options are accepted can minimize confusion and increase patient satisfaction. Of course, dentists are advised to consult with their own advisors to ensure their payment policies comply with all state laws.
To create their own customized financial policy, practices that offer CareCredit can go online to www.carecredit.com/FinancialPolicy  to answer a short questionnaire that includes how insurance benefits are handled, which payment options are available and when payment is expected.
Practices can then download and print their personalized financial policy document. When the patient has determined his or her payment preference, a patient payment agreement form can be printed that details the financial arrangements. A template with options is provided online so that each practice can modify its financial policy to include only the options the practice wants to offer.
CareCredit has also introduced a new computer desktop tool that gives practices instant access to the company's powerful online practice building resources—including the financial policy tool—right from their desktops. With just a few clicks, practices can access key management reports, submit applications and process transactions easier and faster than ever before. Plus, the desktop tool instantly connects dental teams to the popular online payment calculator, which is useful during the treatment and fee presentations to show patients just how easy it is to fit dentistry into their financial situation.
Practices that currently offer CareCredit can visit www.carecredit.com to create their free financial policy or download the new desktop tool. ADA members who have yet to add CareCredit can call the company at 1-800-800-5110 for more information.
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