Patient financing in Denver, CO helps local practices of all sizes maintain a healthy cash flow. However, practices and healthcare centers that use patient financing in Denver, CO also have access to powerful tools to increase their bottom line, while also benefiting their patients.
An Overview Of Patient Financing In Denver, CO
Before we look at the more advanced tools available, we need to cover the basics of how patient financing in Denver, CO works. Patient financing allows medical practices in Denver, CO to get revenue on invoices, while simultaneously spreading out the cost to patients over manageable monthly installments. When patients apply for financing, they fill out a simple application and an administrator at the practice places a phone call to the financing provider. The provider then runs a quick credit check on the patient to determine the amount of financing available, as well as the cost of each installment. The entire process takes just a few minutes. Since most patient financing agreements offer non-recourse options, the practice gets their payments. On the patients’ end, once they are enrolled, the total amount due is broken up over smaller installments, which they can pay over the phone, online, in person, or via mail. Patient financing in Denver, CO offers benefits to everyone involved.
Beyond Cash Flow Solutions
Patient financing in Denver, CO offers much more than a mutually beneficial solution to practices and patients. Healthcare providers can leverage patient financing to market their services to a larger audience, thereby increasing their bottom line. Patient financing offers credit card options, giving patients a tangible item emblazoned with your practice’s logo, which acts as a passive marketing tool. Going beyond plastic, healthcare providers can also offer special incentives to people who enroll in patient financing programs. Offering enrollment incentives, such as no money down for the first three months, first six months same as cash, encourages people to sign up for patient financing, instead of having to pay the total cost of their medical bills all at once. Lastly, offering patient financing builds a great reputation. Patients talk to their friends and family members. Being known for providing payment options goes a long way toward building your client base and increasing revenue.
The Most Comprehensive Patient Financing In Denver, CO
WN Financial Solutions works with practices of all sizes and specialties throughout the Denver area. Contact our offices today to learn more about how patient financing can give your practice a big advantage.