Why Payment In Advance Makes Great Business Sense

One of the great anomalies in dentistry is that for some strange reason the profession is scared to be charging and billing and receiving payment in advance for its time.

I have no idea why the profession is so afraid of this concept.

Last Thursday, August 1, 2013, while in transit at Singapore Airport, I purchased online, four tickets for my family to see Michael Bublè in concert.

In May next year!! Saturday night before Mothers’ Day!!

Next Year!!

Saturday May 10, 2014!!

Two hundred and seventy three days in advance!!

Think about it? Concerts? We pay in advance!

We do it with airlines. We book our flights and pay in advance!!

Holidays? Movie tickets? We fork out our folding in advance.

Hotels? Happy to hand over our credit card numbers as security. No problem!!

So why not in dentistry? Why not indeed!!

Dentists and dental services are provided by university trained and board certified operators who have spent years, yes years, just learning their trade.

Yet the profession as a whole allows patients and customers to reserve time with our doctors, sometimes for months in advance, unsecured. That time is reserved.

Unlike airlines and hotels, dental offices don’t overbook. Patients make a time? We keep that time for the patient. Unsecured, usually.

We never double book and see who turns up first, do we?

Like the airlines? Like the hotels? No way!!

Then last minute, or even worse via SMS the night before, the patient cancels.

At no cost to the canceller. None! Zip! Zero!!

Despite having had that time reserved for them for weeks, or maybe months!!

What a hide?? And we let them!!

I believe it’s time for the profession to stand up for what it is!

A profession!! Not a commodity!!

Stand up for your values, and value what you do!!

Occasionally, my Dental Office will refer a patient to a Sydney Cosmetic Plastic Surgeon [“to the stars” mind you], for lip repositioning surgery.

This Doc demands and receives payment in advance for his consultation appointments at the time of booking!!

So if he can, why can’t you??

I know some of my colleagues offer incentives, like five or ten percent courtesy to patients who prepay their dental treatment in advance. Which is a good start. It’s an incentive to reduce last minute appointment changes. And it sure works.

So think about it? Will it work for you?

A non-dental business colleague of mine says he’d rather have ninety to ninety five percent of the money in advance sitting in *HIS* bank, than one hundred percent of the money sitting out there in hope.

That sure makes good business sense.

Dentists, the call is yours….

 

The Ultimate Patient Experience is a simple easy to implement system I developed that allowed me to build an extraordinary dental office in an ordinary Sydney suburb.  If you’d like to know more, ask me about my free special report.

Email me: david@theUPE.com

Did you like this blog article? If you did then hit the share buttons below and share it with your friends and colleagues. Share it via email, Facebook and twitter!!