The 2009 study analyzed more than 1 million households and compared the behavior of patients who chose CareCredit as a financial resource, to those using cash, credit cards or another method of payment. The study found, over the five-year period following their initial CareCredit transaction, patients with CareCredit were more loyal and more likely to accept treatment recommended by their dentist, investing 44% more in their oral health (as measured in dollar value) and visiting the practice 25% more often. This study supports the 2005 ADCPA Report that CareCredit increases practice production an average of 25.3%.

ADCPA 2009 Study Key Findings:

• In the initial year the CareCredit account was opened, patients accepted 282% more recommended dental services and visited the practice 62% more often.
• In the following five years, patients with CareCredit accepted 44% more recommended dental services and visited the practice 25% more often.

“The ADCPA works with dentists on a daily basis and we’ve always hypothesized that CareCredit positively impacts patient behavior,” said Rick Willeford, President of the ADCPA. “This study analyzed a significant sample size – over 1 million patients – and was able to quantify the positive impact over a 5 year period. CareCredit’s revolving line of credit provides an ongoing financial resource for patients that positively affects their behavior in the dental office. They visit the practice more often and accept more dentistry, demonstrating their loyalty to the practice in clear, quantifiable ways.”

“There are many reasons why a patient may not accept their doctor’s treatment recommendations, including their personal financial situation. The ADCPA study verifies that when you give patients a flexible financial resource, it’s easier for the patient to accept care and fit dentistry into their lifestyle and budget,” stated Dave Fasoli, President of CareCredit.

About the ADCPA: The ADCPA is a national association of accounting firms that specialize in meeting the unique needs of the dental practice. For more information on the ADCPA, visit www.adcpa.org.

About CareCredit: For more than 20 years, CareCredit has been making it easy for patients to get the dentistry they need and want. Today, CareCredit is at work in more than 125,000 practices in the nation and has been used by over 8 million patients. CareCredit is exclusively selected for their members by most state and national dental associations, including ADA Business ResourcesSM*, AGD, AAOMS, and AAP, and is also recommended by leading practice management consultants. For more information on CareCredit, call 1-800-300-3046 ext. 4519 or visit www.carecredit.com to view the full study report.

*ADA is a registered trademark of the American Dental Association. ADA Business Resources is a service mark of the American Dental Association. ADA Business Resources is a program brought to you by ADA Business Enterprises, Inc., a wholly owned subsidiary of the American Dental Association.

Dr. Savage recommends that the doctor get and stay involved in the accounting of his or her office. The dentist should manage the practice effectively and know which employee to speak with about any patient or issue. This management structure, according to Dr. Savage, will reduce stress and promote professionalism and accountability.

Another important issue is your financial guidelines. Dr. Savage points out topics and ideas you may not have yet considered in regards to developing or revising your current financial policy. Patients should understand your policy, as should employees, and the doctor/manager should not make exceptions that overrule an employee’s effort to carry out the set guidelines.

In this economy, you should offer financial options – pay by credit card, third party financing, or set up a phased treatment plan. Dr Savage suggests you consider your policies regarding lab work fees, insurance copays, and cash courtesy discount.

Read the full article at www.dentaltown.com. Dr. Savage’s bio is available here.

Aug 22, 2009 — Orange County, CA – American Benefit Credit, Inc., a US based finance company, today announced that it has launched it’s Select Rewards Visa® program for medical providers. Their out of the box approach with this financing solution has made them an overnight success in the medical community.

“This product was needed in today’s financial crunch for medical providers and patients alike,” said Philip McClendon, American Benefit’s Vice President of Operations, “Hearing the need from our current medical relations, we offered the initial program without any fees attached as a pilot, which grew to be an overwhelming success in the comunity. This ultimately made our decision easy as a company and thus launched the product earlier than anticipated. Without a fee structure you would see as other lending solutions, this product has become more of a success than we could have ever anticipated. It now provides us with a very competitive solution to increase our capacities and extend our reach as a national medical lender.”

About American Benefit

American Benefit Credit, Inc. a California based Corporation, which works with hospitals and medical providers to build and deploy financial solutions for their patients. For more information please go to www.abfcredit.com or call 1-888-224-2429.