If you are a Chrysalis partner, you have a powerful resource at your disposal that can make a significant difference to your patients and to your bottom-line. It’s interest-free payment options, and if you are not using them effectively you are missing a golden opportunity. Here are six reasons why you should talk to your patients about interest-free payment plans with Chrysalis Finance:
Three customer service reasons to offer interest-free payment options
1. They fit in with patients’ budget planning – Many people either don’t have the money for a treatment up front or don’t want to dip into their savings to fund it. Allowing them to spread the cost of treatments without charging interest, means they split the cost into monthly payments, safe in the knowledge that they know exactly how much they have to pay each month.
2. They offer your patients a choice – Choice is crucial because it can mean the difference between treatment or no treatment. In partnership with Chrysalis Finance, you can offer patients three alternative ways to pay:
- Pay up front in one payment
- Pay over 6-12 months in interest-free monthly payments
- Pay over a longer time period with interest but lower monthly payments
Within these choices, we can then tailor the payment options to the individual patient’s needs.
3. They cost your patients nothing – This is the crux of it. Your patients can spread the payment for their treatments and it costs NOT A PENNY MORE to do it. In these times of high inflation and high interest rates, the ability to spread the cost of a treatment with no interest charged is a godsend to many people. Consider that the average APR on a credit card is now somewhere around 25% and it quickly becomes apparent that interest-free credit over 6 or 12 months represents a big saving. (See our article on APR for more information on this topic).
Three commercial reasons to offer interest-free payment options
1. You can carry out more treatments – The benefits of interest-free payment options for patients are translated into business benefits for your clinic. Our own research shows that offering payment options (whether interest-free or interest-bearing) results in more treatments and often a higher level of treatment than if a patient pays in full immediately.
2. They give you certainty around payments and cashflow – Partner with Chrysalis and you can allow patients to spread the cost of their treatment, interest-free, without it affecting your own cashflow. In fact, it locks in payment for treatments because the payment agreement is between the patient and Chrysalis. Your payment – in full – comes from Chrysalis. This means you can book more treatments in with the confidence that they will be paid for promptly.
3. They give you a significant competitive advantage – Consumer demand for interest-free credit is growing and if you cannot offer it for higher cost and elective treatments, it’s simple – patients will go to another clinic that can. For many patients, interest-free credit makes complete sense. They can spread the cost of their treatment but don’t incur interest costs to do so. This makes your treatments more accessible and cheaper than competitors who either don’t offer payment terms or only offer interest-bearing payment terms.
How interest-free credit works with Chrysalis Finance
We offer interest-free payment options, repayable over 6 or 12 months in monthly instalments. With our integrated systems, the patient can apply online or even on their smart phone. The approval process is quick and easy and, once approved, the treatment can commence. We pay you the cost of the treatment in full and the patient pays their monthly payments to us. Once you have been paid for the treatment by Chrysalis, you have no exposure; the finance agreement is between the patient and us.
A final reassurance for you and your patients: Chrysalis Finance is authorised and regulated by the FCA and we are the UK’s largest and most experienced patient payment solutions company. This means that you and your patients can have confidence in the integrity and reliability of our service.
Get in touch to find out how we can help you promote interest-free payment options to your patients.
https://chrysalisfinance.co.uk/contact-us/
Tel: 0333 32 32 230
Email enquiries@chrysalis.com
