Navigating patient financing: How technology unlocks better access to dental care

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Navigating patient financing: How technology unlocks better access to dental care

Ed O’Donnell, CEO of Versatile Credit. (Photo: Provided by Versatile Credit)
Versatile Credit

Versatile Credit

Fri. 14 July 2023

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Access to dental care is crucial, but many Americans face barriers such as limited funds, insufficient insurance coverage and low credit scores, preventing them from accessing the care they need.

According to LendingTree, 42 percent of Americans have been declined when applying for financing in the past, leading to avoidance because of fear of rejection. To address these challenges and build comprehensive financing programs, dental practices require innovative solutions.

Versatile Credit offers a simple and patient-led application process that addresses many of the issues facing dental practices who wish to make financing available to patients. Patients securely and privately enter their information and are connected with suitable lenders, along with the tools to compare offers, estimate monthly payments and choose the financing program that best fits their needs.

With a network of more than 35 prime, near prime and no-credit-needed providers, Versatile Credit ensures dental practices connect with the financing partners that best fit the needs of most patients.

The platform provides an efficient process for both patients and practice staff, allowing applications to be launched and procedures to be funded through a single, easy-to-use portal.

Genesis Credit is a national leader in second-look, non-prime financing on Versatile Credit's platform and plays a vital role in helping practices expand access to care. Ed Haluska, chief commercial officer at Genesis Credit, emphasized the importance of providing individuals who have experienced life changes or have credit challenges the opportunity to access credit and the care they need.

"At Genesis Credit, we have seen multiple economic cycles over the last 20 years, and we have consistently helped to provide solutions to consumers who may have less-than-perfect credit profiles,” Haluska said.

By collaborating with second look partners like Genesis Credit, dental practices can offer multiple options to address a broader range of credit needs.

Versatile Credit's platform brings together the technology, application channels, integrations and financing partners to help dental practices develop comprehensive and resilient patient financing programs that cater to the needs of all patients, regardless of their credit scores.

“By offering the best financing partners and products, along with deploying a seamless, repeatable and frictionless process, dental practices effectively communicate their commitment to patients' needs while helping to drive access to care," said Ed O'Donnell, CEO of Versatile Credit.

These patient-centric approaches streamline the financing process and provide patients with options tailored to their needs. By embracing these solutions, dental practices can enhance access to care, improve patient outcomes and ensure that all individuals, regardless of their credit scores, can receive the dental care they require.

Editorial note:

To learn more about Versatile Credit and how it might work with your practice, visit www.versatilecredit.com/dental. 

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