How to Offer Financing to Patients
Offering patient financing can help reduce upfront cost barriers, give patients more ways to pay for treatment, and create additional opportunities for your practice.
This guide explains how to implement patient financing in a medical or dental practice—from selecting a financing solution and enrolling your practice to training your team and introducing payment options to patients.
Trusted financing providers • Simple implementation • Ongoing support
When patients can afford care, everyone wins.
Give Patients More Ways to Pay for Treatment
Even when patients understand the value of treatment, they may hesitate because they cannot pay the entire cost upfront. Financing gives qualified patients another way to manage eligible medical and dental expenses.
Increase Treatment Acceptance
Help reduce affordability barriers so more patients can move forward with recommended or elective treatment plans.
Reduce Financial Objections
Give your team a practical solution when patients express concerns about treatment costs or ask about payment options.
Improve the Patient Experience
Make cost conversations easier by allowing patients to explore financing privately and review available terms before deciding.
Grow Practice Revenue
More accepted treatment plans may lead to more completed procedures and additional revenue opportunities for your practice.
Results vary. Offering financing does not guarantee patient approval, treatment acceptance or increased revenue.
How to Offer Patient Financing in 6 Steps
Follow these steps to introduce patient financing successfully and responsibly.
1. Understand Your Patients’ Needs
Start by reviewing the financial concerns your patients most often face.
Consider:
- Your average treatment cost
- Which procedures generate the most cost objections
- How frequently patients ask about monthly payments
- How often treatment is delayed because of cost
- Whether your services are commonly excluded from insurance
- The credit profiles and financial needs of your patient base
This information can help you evaluate which financing options may be most useful.
2. Choose a Patient-Financing Solution
Compare financing providers based on your practice’s and patients’ needs.
Important factors may include:
- Types of practices supported
- Eligible treatments and procedures
- Available financing amounts
- Range of applicant qualifications considered
- Application experience
- Funding process
- Practice fees
- Patient rates and repayment terms
- Staff training and support
- Reporting and tracking capabilities
Do not select a provider based only on advertised rates. Review the complete program requirements, costs, and responsibilities.
3. Enroll Your Practice
Once you have identified an appropriate solution, complete the practice enrollment process.
You may be asked to provide:
- Legal business name
- Practice address
- Tax identification information
- Ownership details
- Medical or dental specialty
- Practice website
- Typical treatment amounts
- Banking information for funding
- Professional or business documentation
Requirements vary by provider and program.
4. Train Your Team
Your staff should understand how the financing process works before presenting it to patients.
Training should cover:
- When to introduce financing
- How patients access the application
- Which treatments may be eligible
- Who makes financing decisions
- How funding generally works
- How to answer common questions
- Which questions must be directed to the provider
- What staff members should never promise
Your team should present financing clearly without providing financial advice or guaranteeing approval.
5. Introduce Financing Early
Don’t wait until a patient rejects treatment to mention financing.
Present available payment options when discussing the treatment plan and estimated cost. Introducing financing early makes it feel like a standard payment option, not a last-minute attempt to save the treatment.
6. Track Results and Improve
Monitor how consistently you present financing and how patients respond.
Useful measurements may include:
- Number of patients offered financing
- Number of applications started
- Completed applications
- Approved applications
- Accepted financing offers
- Treatments scheduled
- Treatments completed
- Treatment acceptance rate
- Average financed amount
- Staff and patient feedback
Use this information to improve staff training and identify missed opportunities.
When to Discuss Financing With Patients
Timing matters. Introduce financing naturally as part of the treatment and payment conversation.
During Treatment Planning
Discuss financing when reviewing the recommended treatment, expected benefits and estimated cost.
For Elective or Out-of-Pocket Services
Financing can be especially relevant when a procedure is not covered by insurance or requires a substantial patient payment.
When a Patient Expresses Cost Concerns
Have information ready when a patient says the treatment is too expensive, asks to wait or requests a less complete treatment plan.
Before the Patient Leaves
Give interested patients an opportunity to apply while the treatment plan and benefits are still clear.
As a Standard Payment Option
Consider mentioning financing to every eligible patient rather than trying to predict who may need it. Financial circumstances are personal and are not always obvious.
What Your Team Should Say
Financing should be presented simply, accurately and without pressure.
Your staff might say:
“If paying the entire treatment cost today is a concern, financing options may be available through a third-party provider. The application will show you any options for which you qualify, including the applicable payment, rate, fees and repayment period. You can review those terms before deciding whether to proceed.”
Helpful Tips for Staff:
- Be clear and confident
- Introduce financing as an option, not a recommendation
- Use consistent language with every patient
- Explain that approval is not guaranteed
- Direct detailed financial questions to the provider
- Keep approved materials available
- Give patients time to review the terms
- Avoid making assumptions about a patient’s finances
Start Offering Patient Financing in 3 Simple Steps
Enroll Your Practice
Share a few details about your business and goals.
Let Patients Apply
Patients complete a simple application to explore available financing options.
Help More Patients Move Forward
Approved patients can select an available financing option and proceed with treatment.
Don’t Let the Cost of Treatment Become the Reason a Patient Says No
Your patients may want the treatment you recommend but simply can’t afford to pay the entire amount today.
Patient financing can turn a large upfront expense into more manageable payments—helping you overcome one of the biggest barriers to treatment acceptance.
WITHOUT FINANCING
Treatment Cost
$10,000
Patient needs to determine how to pay the entire treatment cost.
WITH FINANCING
Treatment Cost
$10,000
Patient may be able to finance the treatment and make manageable monthly payments.*
Financing is subject to lender approval, terms, conditions, and eligibility.
Patient Financing for Medical Practices
Financing can help practices across a wide range of medical and elective treatment specialties.
Dentists
Help patients finance implants, cosmetic dentistry, orthodontics and other treatments.
Plastic Surgeons
Provide financing options for cosmetic and elective procedures.
Medical Spas
Make higher-value aesthetic treatments easier for patients to afford.
Dermatologists
Offer payment options for cosmetic and other eligible procedures.
Fertility Clinics
Help patients explore financing for fertility treatments and related services.
Weight Loss Practices
Provide financing options for eligible weight-loss treatments and procedures.
Vision Practices
Help patients finance LASIK and other eligible vision procedures.
Hearing Practices
Give patients another way to pay for hearing aids and related treatment.
Third-Party Patient Financing vs. In-House Payment Plans
Both options can help patients manage treatment expenses, but they operate differently.
| Feature | Third-Party Patient Financing | In-House Payment Plans |
|---|---|---|
| Credit decision | Made by the financing provider | Determined by the practice |
| Patient payments | Generally made to the provider | Made directly to the practice |
| Funding | Subject to the provider’s process | Collected gradually over time |
| Collection responsibility | Generally handled by the provider | Managed by the practice |
| Administrative burden | Typically lower for the practice | Typically higher |
| Financial risk | Depends on provider agreement | Practice may assume nonpayment risk |
| Available terms | Established by the provider | Established by the practice |
| Best suited for | Practices seeking an outside financing solution | Practices prepared to manage payments internally |
Specific arrangements vary. Review all provider agreements before enrolling.
Ready to Offer Financing to Your Patients
Give your patients more ways to pay for treatment while creating more opportunities for your practice to grow.
No obligation to learn more.