What Matters to Your Visitor

When it comes to the issue of what to charge for orthodontic services, many doctors that I interact with are reluctant to raise their fees for fear of alienating potential patients. What many don’t realize is that the difference in cost for services is rarely the reason for a prospective patient choosing one practice over another; in fact, unless the patient is choosing to pay-in-full for treatment up front, the fee difference isn’t a significant factor. The real issue – the one that costs you cases – is another matter entirely. It is the amount of your monthly payments – or, more specifically, how much pain your proposed payment schedule will inflict upon the family’s monthly finances.

To illustrate, let’s assume that a prospective patient visits your practice and another practice in your area. Both practices estimate treatment time to be 18 months; you quote $5400 for treatment. Practice B is a little higher than you; their fee is $5600.  Both of you offer a financing option that includes a small down payment – in this case, $700 – with the remainder to be financed. Keep in mind that Practice B has a higher fee than you do.

You insist that the $4700 balance be paid off in 18 equal installments, given that this is when treatment time is expected to be completed. This results in 18 payments for the family of about $260.00. Practice B, knowing that most families who choose the low-down-payment option do so because they are more budget-sensitive , offers an extended payment option – this perhaps being a fourth, in addition to the three I cover in my training program – with payments on its $4900 fee out to 26 months, resulting in 26 installments of approximately $188.00. (Yes, heaven forbid, this means that Practice B will be financing treatment after the bands come off).