Question: Should I accept installment payments from patients?
ANSWER: The first thing that I was taught getting into the dental industry early on was to always remember that we are a dental office and not a bank. You should not accept installment payments from patients in office and only work with a third-party finance company if the patient does not want to or cannot pay in full.[mepr-show if=”loggedout”][/mepr-show] [mepr-active memberships=”629,630,37388,37393,37672,37676,37670,37668,37674,37676,44674″ ifallowed=”show” unauth=”message” unauth_message=”Answer hidden, please login or purchase a membership to view.”]There is so much risk in doing dentistry on a patient that has not paid in full and plans to make installment payments. Also, there is a lot of administrative time wasted by managing the installment agreement and most of the time, having to track the patient down to get the agreed upon payment.[/mepr-active]
To learn more about patient accounts and accepting payments in your dental practice, watch these training videos!
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