• • Double the number of approvals on average for patients that want payment options.
• • Simplify the patient experience applying for financing so it’s easier to say “yes” to treatment.
• • Get more large case treatment on the schedule by about double for those wanting payment plans.
• • Save your staff’s time by taking financing off their plate and saving them from awkward questions.
• • Amp up your marketing effectiveness by 40% on average with proven payment plan language.

About double the approvals and about double the treatment plan acceptance is what is seen on average, but of course that will vary significantly by practice.

Virtually all the time they spend on financing. On average, practices say that dealing with financing takes about 30 minutes, but it can often take far longer. They get back most of their time since all they ask the patient is, “Would you have any interest in checking out our amazing payment options?” When they say yes (90% of the time), the team just says, “Scan this QR code, have a seat, and take a couple of minutes to fill out the simplified single-page application on your phone. Our payment plan concierge will call you right after you hit submit, to review your best options.” The rest is handled by the concierge, then treatment is scheduled.

Those wanting payment options report that it’s the simplest application process they’ve seen! They also love the personal touch of having the concierge answer all their questions, get them the best option, and make the approval process simple. In no time, everything is done and they’re scheduling their life-changing treatment!

Typically, building a waterfall financing technology program is expensive—often over $100,000. We’ve absorbed that, so besides the typical financing program costs you’re used to, the system is virtually free with only a one-time setup fee of $1000 per practice, which could be cut in half if you were introduced by one of our affiliate partners. Plus, up to $500 of your setup fee is returned to you as you use it.

Once a practice contracts $50k of financing in a month, $250 is credited to their co-op marketing account. When they hit $100k, another $250 is credited. That can allow for the entire initial setup cost to be reimbursed, resulting in $0.00 net setup cost to the practice and no monthly subscription costs!

It's paid the same way your staff and their tools are—through a small portion of revenue from the payment plan or loan contract (averages less than ½%). This covers the tech and concierge services so your patients have the most comfortable and convenient way to get care.

Staff members love the time they get back since the payment plan concierge relieves that burden, saving time, increasing treatment acceptance, and taking care of questions with patients that can sometimes be awkward. The result: patients have an even smoother process getting approved more often for the amount they need, the team’s time is freed up, and more large case treatment ends up on the schedule.

Currently, there are about half a dozen lenders that each specialize in different aspects of the credit range from prime credit, mid range, and subprime, instead of the current lenders available that are all competing for those with pretty good to great credit. Periodically, additional lenders are added that can benefit the program. As new lenders are brought on, we use our volume to negotiate lower MDR rates for practices and interest rates for patients.

The same as you are used to. Just like with the lenders you’ve worked with in the past, they vary based on the level of risk the lender is taking on. Costs for patients and practices range from around 5% to rates comparable to credit cards (20%+).

When you work with FormPiper to set up paperwork with the different lenders, you can customize the options shown to patients—such as only showing programs under a certain interest rate or MDR threshold.

It’s a huge perk you get! Kind of like the frequent flyer miles you earn when using a credit card. As financing occurs through the program, 50 basis points, or ½% of the loan amount drops into your Co-Op Marketing Account! Those are free dollars you get to use with UpSwell to promote your practice with their direct mail or digital services. You have no obligation, just like free miles, and can take advantage of it or not, but as free dollars build up in your account, we hope you’ll take advantage of adding more new patients to your practice.

• 1. We ask you some questions over the phone
• 2. You complete the simple electronic application and upload the needed documents
• 3. We put together the application packets for each lender, and get the approvals
• 4. We introduce you to your payment plan concierges (PSG)
• 5. Once we have all the approvals back, we will email you over a single signature document to electronically sign each of them at one time.

Keep in mind that since you are now gaining access to specialized mid and subprime lenders, since they experience more fraud, they require more documentation to confirm the legitimacy of your business. They ask for quite a few more documents than most lenders handling prime to average credit. Some need as many as about 15 documents. It takes a bit to gather them together, but it’s well worth it to have the flexibility of providing solutions for your patients.