As a physician or business owner, you know that large expenses can be a significant concern for your patients and customers. Offering financing options can be an effective way to help ease the burden of a major expense or large purchase and make your services more accessible to a wider range of people.
When presenting your products and services, make sure to include information about financing options prominently. Display financing information on your website, in-store or in-office, and on marketing materials. This can help customers understand the financing options available and make a more informed decision about their purchase.
It’s important to ensure that your staff is knowledgeable about financing options and trained to discuss them with patients/customers. This can include providing training on the various financing options available, as well as how to discuss them in a compassionate and respectful manner. Staff members should also be able to answer any questions patients/customers may have about financing options.
When presenting financing options, it’s important to be transparent about interest rates and repayment terms. Make sure patients/customers understand how much they will be paying in interest and over what period of time. Also, be clear about any fees or penalties associated with late payments or early repayment. Providing this information upfront can help patients/customers make an informed decision about their financing options.
When discussing financing options with patients/customers, it’s important to be mindful of their financial situation. Some may be uncomfortable discussing their financial struggles, so try to create a comfortable and safe space for them to ask questions or express concerns. Also, be aware that some patients/customers may not be able to qualify for certain financing options due to their credit score or income level. In these cases, consider offering alternative payment arrangements or referring them to other organizations that may be able to provide financial assistance.
Partnering with a financing company can offer several benefits. These companies can help simplify the financing process, allowing patients/customers to apply for financing directly through them. They may also offer promotional financing options, such as interest-free periods, which can make financing more attractive to patients/customers. Additionally, working with a financing company can help alleviate the administrative burden of managing payment plans in-house.
Offering financing options can be an effective way to make your services more accessible to a wider range of patients/customers. However, it’s important to present these options in a way that is helpful and respectful. By providing clear information, being sensitive to patients/customers’ financial situations, and partnering with a financing company, you can help ease the financial burden for your patients/customers and improve their overall experience.
United Credit partners with thousands of merchants to help them grow their business through financing options. We have relationships with multiple lenders, which means we have a variety of financing options to serve a wide variety of your customers. Our team is here to support you and your business every step of the way so you can focus on what matters most: your customers. Ready to get started? Begin your enrollment now.
United Credit strives to keep the content shared on this blog accurate and up to date. You are urged to consult with business, financial, legal, tax and/or other advisors and/or medical providers with respect to any information presented. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial or medical institution. This content is intended for informational purposes only.
As Chief Sales and Marketing Officer, Nate expertly drives revenue growth for United Credit by leading sales and marketing strategies across all channels. With over 20 years of experience working with global brands in various industries, Nate has a proven track record of boosting sales, expanding market share, and building strong relationships. His unique ‘right-brain + left-brain’ approach combines business acumen and strategic thinking with striking creative execution, ensuring United Credit’s sales and marketing efforts consistently deliver results for continued success.
Matthew is the President and Founder of United Credit. Matt founded fintech company United Medical Credit in 2011 to connect consumers and businesses with an array of experienced, innovative financing solutions. In 2022, the company grew and became United Credit, fueling an expansion into retail markets while retaining its expertise in specialty healthcare.
Since its founding, Matt has provided leadership for all aspects of the Company, emphasizing long-term growth while ensuring United Credit delivers value to its consumers, merchants, and business partners. The Company has risen in the fintech space as a preferred consumer financing partner under his tenure.
Matt is also an active member of YPO (Young Presidents’ Organization), the world’s largest leadership community of company chief executives.