Why patients are choosing to spread the cost of their treatments

Why patients are choosing to spread the cost of their treatments– and how this affects your clinic

This might hurt: when planning their spending, most people never consider making provision for dental or other medical procedures. We don’t tend to think emergencies will happen until they do, and if we want an elective treatment, such as cosmetic work, we don’t enjoy waiting months or even years until we have saved up for it. That’s why offering payment options to patients is so important.

Why people prefer monthly payment options

There’s a move by consumers towards paying for higher value purchases in monthly instalments rather than in one lump sum. With dental and healthcare treatments often being unplanned, payment options are a godsend for many patients. It allows them to get their treatment and build the payment into their monthly spend. With the alternatives being either no treatment, a long wait for treatment, or putting the cost on a credit card with eye-wateringly high interest rates, there’s no contest.

While we’re mentioning credit cards, did you know that that the average credit card debt in the UK is over £2,000? At an interest rate of 20% (on the low side for a credit card) that’s £400 in interest over a year. And when you consider that the minimum required repayment every month is just 5%, that shows expensive this form of credit can be as the interest mounts up.

The beauty of monthly payment plans for your patients is that they are interest free or low APR, spread into equal payments so you patient knows they will be paying the same amount every month, and they have a clear end date if payments are made in accordance with the agreement. The benefit for your clinic is that all the hard work – and crucially, the financial agreement – sits with the lender, rather than you. You simply offer payment options and then do what you do best: treat your patients.

At the heart of borrowing is trust in the lender

Payment options where payment is spread over several months is a form of borrowing. And if you borrow money, you need to be able to put your trust in the lender. That’s why thousands of clinics partner with Chrysalis as their payment options provider. We are the leading finance provider for dental and healthcare businesses and have specialised in this sector for many years. We are committed to providing ethical finance solutions and we are the only organisation in the UK able to provide a specialised comprehensive, fully compliant, consumer credit processing service. We make it easy for you to provide payment options and we make it simple for patients to apply and manage their payments thereafter. We offer a controlled and reliable way of paying for necessary or important treatments that might otherwise be delayed.

Why choose Chrysalis as your payment options provider?

We know you want to concentrate on looking after your patients, and having to deal with finance options can feel like too much of a distraction. That’s why we have developed an intuitive application process that interfaces seamlessly with your systems. All you need to do is tell your patients its available and point them in the right direction. They apply online through a straightforward process and, once their application is approved and the treatment begins, we transfer payment. It’s over to you then to carry out the treatment, knowing it’s paid for. With Chrysalis, they are in safe hands and, as our Patient Charter demonstrates, we put them at the heart of our business and look after them with care.

Payment options offer a bright future

Spreading the cost of bigger value purchases is becoming the norm. The healthcare and dental sectors are no exception. Interest-free finance with equal monthly payments and a clear end date offer your patients the freedom to manage their finances and build the cost of treatments into their monthly spend, rather than taking a one-off hit. They allow you to treat more payments and carry out more higher value treatments. With Chrysalis Finance, they are easy to set up and they offer a bright future for you and your patients.

If you’re already partnered with us but not making the most of your payment options, or if you would like to talk about becoming a partner, get in touch today and let’s make that brighter future happen for you and your patients.