Dentaltown November 2019 - 90

"How much do you
make?" "Did you get a raise
this year? How much?" "Nice
car ... how much did you pay
for it?" "You went to Europe
for three weeks. That sounds
expensive. What did it cost
you?" "Your new home sure
is nice. How much did you
pay for it?"
If a colleague asked you any of these
questions, you probably wouldn't answer,
and you'd leave the conversation feeling
more than a bit uncomfortable. There's
a social taboo that surrounds asking and
talking about money, yet the exchange of
money is what drives our economy and our
lives. A recent survey found that 44% of
Americans surveyed see personal finance as
the most challenging topic to discuss with
others, more so than subjects like politics
and religion.1
When the right communication happens, talking about money in the dental
practice doesn't have to be uncomfortable
for you, your team or your patients. The
practice deserves to be paid appropriately
and promptly for the services it provides,
and patients deserve to receive care for their
financial investment. It truly is a win-win,
and financial conversations should reflect
that dynamic.
Here are a few ways to make it more
comfortable and effective to discuss cost,
insurance benefits, the gap between benefits
and the cost of care, and payment options
with patients.

90

NOVEMBER 2019 // dentaltown.com

Be transparent from the start
In almost every type of environment
there's an exchange of money for goods or
services occurs, the cost, payment responsibilities and payment options are transparent
from the start. When you walk into a grocery,
department or furniture store, the cost of
the products is clearly visible on the price
tags. And, there's a sign at the front of the
store that lists the payment options available
beyond cash. When the cost varies by
situation, like at an auto repair shop, and
we don't get concrete information, it causes
uncertainty. Uncertainty leads to stress and
distrust, especially if the person quoting the
cost seems to be uncertain and tentative.
In a dental practice, the team must believe
that the value of care they provide is greater
than the cost, meaning the patient is getting
more than they are paying for.
In dentistry, the fear of cost is one of
the primary barriers to patients seeking and
committing to dental care. Because the cost
of care is a direct reflection of the patient's
specific oral health needs and wants, you
can't provide the treatment fee prior to the
examination and treatment planning. But,
you can recognize patients' concerns and
be upfront and transparent with payment
options on your website and on the phone.
"Good morning. I think I have something wrong with my tooth. A friend said I
probably need a cap or a filling. How much
does that cost?"
"Thank you for calling. We're here to
help. It sounds like you are concerned with
cost. Many patients are concerned with
cost. Because the cost of fi xing your tooth
depends on what is wrong with it, I can't
provide you with a specific cost before you
see the doctor. But I can tell you the cost
for the examination is $XXX. After the
examination, we will share with you the cost
of care and we will work hard to maximize
any insurance benefits you may have. We
do have several payment options available,
including special financing, which many
of our patients prefer. Together, we'll find
something that works for your dental care
needs and family budget. How does that
sound to you?"
http://www.dentaltown.com
Dentaltown November 2019

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