When it comes to payment changes in the dental industry, patients are leading the way. Consumers are setting the pace, adopting new technologies and processes with remarkable ease. Smart dental practices want to keep up.
Decades ago, cash and checks made up most payments at dental offices. Next, credit cards began to make inroads, eventually becoming dominant on the payment landscape. Then cell phones arrived and the payment process shifted again. Now mobile payments are becoming a more significant proportion of monies received every quarter.
Mobile payments give you the option to send your patients an invoice by text or email. Patients click the link, and pay by completing three brief fields. It’s simple, fast, and very effective. Text messages have a remarkably high click-through rate: 95% of texts are read and responded to within three minutes.
“You never want a patient to say ‘Why is it so hard to pay my dentist?’”, says Teresa Duncan, dental insurance expert and educator. “The goal is to make it as easy as possible for your patients to pay their balances, to offer them as many payment choices as you can. Mobile payments are an incredibly effective option.”
Mobile payments were gradually gaining ground until 2020, when the global pandemic suddenly made them an immediate necessity. As consumers grew used to the new technological options, need gave way to convenience. Growth of mobile payments exploded: in 2022 alone, the global mobile payment market is expected to reach $4.23 trillion.
Teresa encourages practices to adopt the technology. “Integrating mobile payments is not as difficult as you might think. Your patients will make it easy for you – and in return you’ll make it easy for them.”
Schedule your consultation with our solutions experts today to learn how your practice can start getting paid faster.
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