Most of those on this email newsletter list are clients but this particular email is intended primarily for those who have asked to be on our email list but who are not yet one of our clients. I know there are a number of non-client doctors who are not interested in following what we teach with respect to credit granting and who are not, therefore, identifying the risk of their new patients. However, I also know that you have a great deal to gain by learning the credit risk of your prospective patient or responsible party even though you may choose not to follow the financial arrangement “rules” that we ask our clients to follow.
For instance if you know a patient is rock solid and has never missed a payment to anyone in his history, does it really make sense to lose the case because you require a down payment or a restrictive payment plan length? Do you realize that many, and possibly most, of the patients who do not start in your office, those who tell you they found less expensive treatment elsewhere, actually started elsewhere for a price similar to yours but they were offered better down payment and monthly payment terms?
On the other hand, if you know for certain that your prospective patient or responsible party is a complete credit criminal and has never properly paid a bill, does it really make sense to allow that person into your practice with a token down payment or with a long-term payment plan? Make up your own down payment and contract length rules if you wish but at least take the time to learn who you are dealing with.
Using modern technology (a web based application), even an untrained employee can, in 45 seconds or less and for a cost of roughly $6 per grade, obtain a 100% accurate credit grade on your patients. What’s more, that credit inquiry does not impact the patient/responsible party’s credit score or rating in any way and the inquiry does not show up on the person’s credit report as an inquiry for the patient’s creditors. Is it worth $6 and 45 seconds of a staff person’s time to know, for certain, the risk a patient presents?
What’s the loss to the practice when a great “A” patient goes elsewhere because your financial arrangement was not flexible enough? Yes, you have lost a case fee but what about the loss of other family members and patient referrals from that patient who did not start? Now consider the true cost to a practice that allows a high risk patient into the practice with a token or $0 down payment and a long-term payment plan. That patient will get delinquent and will cause the great majority of the clinical and other patient related problems (failed appointments, poor clinical cooperation, etc.) caused by such patients? Do you know that the great majority of malpractice lawsuits come from these high risk patients/parents? It’s worth $6 to know who your patients are!
Please go to www.getzacc.com. That site will allow you to see how the application works, what it does and how fast it is. I designed every part of the ZACC product and it delivers exactly as promised. ZACC is administered by OrthoBanc and you can sign up for ZACC while you are on the ZACC site or you can call OrthoBanc directly. ZACC is a stand-alone product and does not require that you use other OrthoBanc products. If you have any questions at all about the ZACC product, how it works, etc., please call me or my staff at (503) 723-0200.
— Paul Zuelke
