As a doctor, you know how important it is to attract new business. As he builds his patient base, his earning potential increases. While attracting new business is important, keeping your existing patients is just as important. Patient loyalty will earn you money over time and will also save you money on your monthly marketing initiative. There are several different ways that physicians can increase customer loyalty. You can start by being compassionate and understanding and move on to offering financing plans for your patients who need surgeries not covered by their insurance. If you’ve been debating whether or not you should offer in-house financing for surgery, review the benefits and make the right choice for your practice’s success.
Help those without insurance or with high deductibles
Studies show that more than 40 percent of the nation’s population needs assistance paying the high costs of health care. This includes people who are uninsured and people who have a high-deductible individual health insurance plan. The large out-of-pocket costs associated with surgeries for patients without insurance can be very intimidating and financially damaging to the family. When you offer special in-house financing for surgeries, you can appeal to all the people who can’t find financing elsewhere. Financing through your office is more convenient for the patient and will give you access to the care you need without breaking the bank.
Increase your income and increase your profits
As you accept new patients, you will see your income grow. Your office is most likely open during business hours. One of the primary goals in a medical office is to complete the schedule so that every hour counts. Every hour you’re in the office, you want to have a patient scheduled. When you offer surgery financing, you’ll see your new patient list expand rapidly. Patients would rather have options to pay for their surgery on a monthly basis than pay for their surgery out of pocket in one lump sum. As you attract these budget-conscious patients, you can keep their days busy and increase your income accordingly.
Get more loyalty and more referrals
In addition to seeing more patients, you’ll see more of the same patients over time. Clients appreciate the option to finance their healthcare without having to apply for financing through an outside company. This appreciation will shine through when they recommend you to their friends and family. With client retention and more referrals, you’ll see even more patients without needing to expand your marketing effort.
If you are performing surgery on your own, cosmetic or elective, consider the benefits of offering your own in-house financing for surgeries at your office. Not only will you generate new business, you will also learn to keep the patients who have been with you for years.