3 Solutions for Payment Processing at Your Dental Practice

By TransNational Payments

Between scheduling appointments, filing paperwork and coordinating staff, operating a dental practice can be stressful. Add to that the responsibility of selecting the right treatment and procedures for your patients, and the last thing you want to worry about is how you and your colleagues will get paid.

Fortunately, there are effective solutions for payment processing at your dental practice that can give everyone something to smile about.

Credit Card Terminal
A credit card terminal is a stand-alone device that enables your patients to pay with their credit or debit cards. It’s a very common option in dental practices today — in fact, you may have one at your reception area right now. But, do you know if it’s EMV-compatible?

EMV (Europay, Mastercard and Visa), a standard behind chip cards, is a must for all businesses that want to enjoy secure payment processing and avoid liability for fraudulent transactions. When it comes to your dental practice, security is key, especially considering all the confidential patient information you handle daily. This one-time upgrade is simple and can protect your payments for years to come.

Mobile Payments
It’s 2018, so why should you or your staff be stuck at the front desk when processing your patients’ co-pays? It’s time to give your staff and your clients the flexibility of mobile payments! Here are just some of the many benefits you can experience:

  • faster payments — complete transactions in just a few seconds
  • shorter lines — reduce the wait and increase customer satisfaction
  • stronger security — keep the cardholder information safe and sound
  • diverse features — enjoy real-time reporting and paperless receipts
  • reasonable price — get modern payment processing without breaking the bank

Getting started with mobile payments is just as simple as using them. All you need is a mobile device, such as a smartphone or a tablet, a card reader and a mobile app that lets you perform, save and manage transactions at the palm of your hand.

Recurring Billing
Payment processing isn’t hard, as long as you approach it in a smart way. If you have patients visiting the office on a regular basis, there’s no need to request their credit or debit cards each time a payment is due. Instead, ask them if they want to enroll in recurring billing. If they agree, you can use your payment gateway to select the transaction amount and the frequency of withdrawals. This is a great way to give your patients an excellent visit experience and help your practice achieve a steadier cash flow.

Recurring billing also is something worth looking into for your personal payments. It’s no secret that dental school debt is sky-high right now, averaging $287,331 as of last year. Some of the best advice for loan repayment includes consistent and timely installments. With recurring billing you can achieve just that, all while avoiding late fees and penalties.

Don’t let your existing payment processing make a dent in your dental practice. At TransNational Payments you can enjoy the transparent interchange plus pricing structure and work with dedicated account managers committed to helping you lead your dental practice to success. Experience payment processing made simple today!

Upgrade Your Dental Office Payment Options

By Brian Eggert, IC System

Here’s something you may not realize about Americans: We’re still pretty attached to paper checks, and your dental practice is probably no exception, even if credit card payments are still accepted at the front desk. Still, it’s pretty clear the paper check is on its way out. In one decade, the trusty check has gone from the most common form of non-cash payment to being eclipsed by debit cards, credit cards and electronic funds transfers, according to the Federal Reserve. Take steps to upgrade your dental office payment options. Reducing check payments also reduces the time and labor to process payments, allowing you to receive payment more quickly. This makes payment processing more efficient and decreases time and money spent on collections.

Start Accepting Electronic Insurance Payments
Dental practices have an opportunity to recapture time and money by making the switch to electronic funds transfers when processing insurance payments. According to the National Association of Dental Plans, only 11 percent of dental plans are not equipped to issue electronic payments. Yet in 2015, 92 percent of dental practices still accepted payment from health plans and providers by paper check, while the remaining 8 percent were considered fully electronic (ACH/EFT), according to the 2016 CAQH Index.

What’s interesting about this report is a majority of dental practices are already submitting claims (74 percent) and verifying eligibility and benefits (58 percent) through fully electronic means. Upgrading the system to one that accepts electronic payment from payers is the next logical step. When comparing the time spent and costs for every transaction, the savings benefits are clear:

  • Providers spend anywhere from 5-17 minutes on each paper check, versus 1-4 minutes on electronic payments.
  • Processing each check costs providers $2.89, compared to $0.69 per EFT.

Add Payment Features
In real life, patients are customers — people who have a lot of other bills to pay, and chances are, they’re using debit and credit cards. Along with that, it’s important to remember that in the span of a decade, customers now have an array of safe, easy and convenient ways to pay by credit card online and with their mobile devices. They value having control over when and where they pay. They also want to be sure it’s safe.

A secure online payment portal lets your patients pay on their terms. Even better, if the widget lets them set up automatic, recurring payments to pay down higher-cost procedures, that ensures on-time payments to you.

Adding mobile pay services at the front desk and online also is a simple and secure way to streamline the payment process for patients in and out of the office. These add another layer of security in the transaction, but allow customers to settle up without having to dig out their credit or debit cards.

Need collection help? Call us at 800.279.3511 to REQUEST PRICING!

IC System is an FDA Services (FDAS) Crown Savings Merchant. FDAS has researched and vetted business solutions so FDA members can take advantage of exclusive deals and discounts offered through the Crown Savings program. Members who participate will save time, money and hassle, putting the focus back on patient care. Crown Savings benefits members and the association as the program produces revenue for the FDA through use of the association’s trade dress and mailing list. Greater participation means more revenue for the association to add value to the FDA membership. For more information, go to fdaservices.com/ic-system.

Know What’s Driving Your Dental Practice’s Inbound Calls

By Allison Doyle, Demandforce

Whether your dental office is staffed by two or 20, in order to maintain growth and profitability, you need to keep your chairs full with a steady stream of new and returning patients. Yet according to a Health Policy Institute study released by the American Dental Association, the projected growth rate of dentists per capita between 2015 and 2035 is 7.9 percent. This means that your practice will soon be (if it isn’t already) immersed in a competitive marketplace.

The modern Florida dental practice knows its patients and markets to them.
With more options for your patients to choose from when it comes to their dental health, it’s now more important than ever to know who your patients are, and what drives them to book an appointment. You not only have to attract new patients to your practice, but you also have to nurture relationships with your current patients to keep them coming back — and to keep referring you to their friends and family.

You may already be sending email marketing to your patients like recall promotions or referral rewards. You could even be actively posting on your Facebook page and running ads. These are all great ways to get your dental practice to stand out among the crowd, but how do you know which are the most effective, and which you could do without?

Call Tracking removes the mystery from your marketing campaigns.
Call Tracking is the ability to assign unique, trackable phone numbers to specific marketing campaigns, so you know exactly what’s driving your inbound calls. In some Call Tracking portals, you can even see helpful data such as call duration, caller name and a recording of the call itself.

Having this data not only helps you gain valuable patient insights, but also allows you to identify your most effective campaigns and make data-driven marketing decisions. For example, if you see that a certain email promotion has had success in bringing in new patients, you might try sending it to your inactive patient base as a recall campaign.

 

If you’re looking for a way to track campaign performance, or learn more about Call Tracking and other marketing tools designed specifically for Florida dentists, visit demandforce.com. Call Tracking is available to all Demandforce customers, and Florida Dental Association members receive special pricing on the Demandforce platform. For more information, or to set up a live demo, visit demandforce.com/FDA.

The Value of Your Current Patients

By Jackie Ulasewich, Founder, My Dental Agency

There are a lot of reasons to want to bring in new patients. Maybe you want to expand your practice enough to hire an associate, maybe you want to open a second location or maybe you want to make sure your practice is established enough for you to have a healthy retirement when the time comes. Whatever the reason, you need to remember the people who have already helped you grow your practice: your current patients. Bringing new patients through the front door is useless if your current patients are sneaking out through the back.

Why They’re Valuable
If you’re lucky, your patients are loyal to you. With patient loyalty comes regular visits, more involved treatments and those sought-after referrals. If you are not loyal in return, then what’s to stop them from switching to another practice?

How to Create Loyalty
Your patients have tons of dentists from which to choose. Some of those dentists may offer discounted treatments, some may be closer to home or work or some may have a stronger marketing game. What makes your practice unique is YOU, but you have to be willing to remind your patients that you’re there for them beyond their semi-annual appointments and you have to let them see who you are when they’re not in your chair. The following ideas will get you started.

  • Use Facebook multiple times a week. Only 20 percent of your posts should “sell” a service or product; the other 80 percent should be fun posts that show the personalities of both you and your practice.
  • Use targeted emails. Have you spoken with clients about a treatment such as implants or adult orthodontics who haven’t followed through? Reach out to those people via email to remind them of your discussion and encourage them to seek treatment.
  • Use email regularly. Once a month, reach out to your current patients via email. The content can be educational, but keep it fun; you’re trying to keep your patients informed and make them feel connected to the practice, not overwhelmed by information.
  • Use customized content. Nothing says “I’m just phoning it in” like mass-produced marketing content. Using customized content on your site, social networking platforms and emails is another way to set yourself apart from the other practices and let your patients know who you are.

There is nothing wrong with wanting to grow your practice. In fact, the same tricks that help your current patients feel connected to you also help potential patients know why your practice is unique. But instead of putting all of your efforts towards bringing in new patients, remember that you have current patients who need a reason to stay loyal.

 

With over a decade of experience in corporate dental laboratory marketing and brand development, Jackie Ulasewich decided to take her passion for the dental business and marketing to the next level by founding My Dental Agency. Since starting her company, she and her team have helped a wide variety of practices all over the nation focus their message, reach their target patients, and grow their practice through effective marketing campaigns. When she isn’t helping dental practices reach their full potential, she can be found at the beach with her three dogs or immersed in everything food-related with her large Italian family. For more information, call (800) 689-6434.

 This article originally appeared on DentistryToday.com