Dental Credit Cards Not Having An Impact on Dental Practice Bottom Line

Thousands of dentists across the US offer their patients dental credit cards to cover dental work that needs to be done. Only one third of dentists report that dental credit cards have helped increase dental practice income.

Dental credit cards are popular, but some dentists believe the dental credit cards are too expensive for their patients, according to our recent survey.

37% of dental practices get more money from CareCredit and other cards, while 24% get less money from credit cards now than five years ago. Only 14% don’t use dental credit cards at all.

The slight majority (37%) think dental credit cards improve their bottom line, while 14% think the dental credit cards aren’t worth it.

Here are some dentist comments:

  • “They’re bad news. They set up your patients for financial failure. Many of my colleagues say,
    ‘Well, it’s THEIR problem, not mine, how they take care of their dental financing.’ I disagree — if we set our patients up for financial failure, we are complicit in their problems.”
    (California dentist)
  • “Too expensive!” (General dentist)
  • “CareCredit charges very high interest rates for longer term ‘loans.’ We learned the hard way that the 18 month
    ‘interest-free’ option is not affordable–for us.”
    (Michigan dentist)
  • “Patients are less willing to pay the high interest rate even with my paying 6 months of it.” (Texas dentist)
  • “Many people are reluctant to apply for MORE credit these days. I don’t blame them. Who wants another credit card? I heard that the average American has nearly $20,000 in credit card debt! Ouch.” (Ohio dentist)
  • “We love the outside financing companies because we no longer have to mail out as many statements and our collections rate has increased tremendously!” (Alabama dentist)
  • “Care Credit is the only dental credit program we offer.” (Illinois dentist)

Read more: Dental Credit Cards Not Having An Impact

About Jim Du Molin

+Jim Du Molin is a leading Internet marketing expert for dentists in North America. He has helped hundreds of doctors make more money in their practices using his proven Internet marketing techniques.

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