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ExtendCredit.com Blog
Close the Gap in Your Customer Financing Picture
Businesses across the United States are looking for alternatives for customer financing. Conventional financing programs are not meeting the need. Approval rates are at an all time low as only the most credit-worthy customers qualify for conventional financing. Fewer and fewer services even qualify for conventional financing. All too often, when conventional financing is available, you hear stories about customer complaints that it is really expensive. These are signs of the times. The economic crisis is still with us and the situation will not change any time soon. The harsh reality for businesses that use conventional customer financing is that business and revenues are significantly lower than in the past. So how do you close this gap and build your business and revenues back up in these challenging economic times?
Extend your own credit in the form of payment plans to your customers as a complement to conventional financing. This approach provides choices for you and your customers. If conventional financing programs are only approving 15% of customers that apply for financing, then offering your own payment plans can close that gap and increase approvals to more normal levels. If conventional financing programs will not cover certain procedures or types of transactions, then offering your own payment plans can generate sales that would otherwise be lost.
As a business owner, you see the benefit of offering your own payment plans, but you do not have the infrastructure, resources or experience to manage them. You may have even tried offering your own payment plans in the past and struggled with juggling spreadsheets and the time consuming and error-prone manual processes involved with this approach. This is where ExtendCredit.com comes into the picture.
ExtendCredit.com provides businesses with a comprehensive, easy-to-use online service that enables them to offer their own flexible, extended payment terms to qualified customers as well as easily manage those payment plans. ExtendCredit.com provides everything needed to initiate, manage, and collect on those payment plans. The fees are extremely affordable for the business and there are no long term contracts required to participate.
ExtendCredit.com is helping businesses across the United States in a variety of industries, including Healthcare practices such as Orthodontics, Cosmetic Dentistry, Cosmetic Surgery, Weight Loss, Eye Surgery, Denturists, Vein Care, Hair Restoration, Fertility and others, Veterinary Practices, Service businesses such as Automotive Repair, Home Improvement, Family Law, and other small businesses that see the value offering payment plans hold for growing their businesses in these challenging economic times.
Extend your own credit in the form of payment plans to your customers as a complement to conventional financing. This approach provides choices for you and your customers. If conventional financing programs are only approving 15% of customers that apply for financing, then offering your own payment plans can close that gap and increase approvals to more normal levels. If conventional financing programs will not cover certain procedures or types of transactions, then offering your own payment plans can generate sales that would otherwise be lost.
As a business owner, you see the benefit of offering your own payment plans, but you do not have the infrastructure, resources or experience to manage them. You may have even tried offering your own payment plans in the past and struggled with juggling spreadsheets and the time consuming and error-prone manual processes involved with this approach. This is where ExtendCredit.com comes into the picture.
ExtendCredit.com provides businesses with a comprehensive, easy-to-use online service that enables them to offer their own flexible, extended payment terms to qualified customers as well as easily manage those payment plans. ExtendCredit.com provides everything needed to initiate, manage, and collect on those payment plans. The fees are extremely affordable for the business and there are no long term contracts required to participate.
ExtendCredit.com is helping businesses across the United States in a variety of industries, including Healthcare practices such as Orthodontics, Cosmetic Dentistry, Cosmetic Surgery, Weight Loss, Eye Surgery, Denturists, Vein Care, Hair Restoration, Fertility and others, Veterinary Practices, Service businesses such as Automotive Repair, Home Improvement, Family Law, and other small businesses that see the value offering payment plans hold for growing their businesses in these challenging economic times.
Who knew! Dentists want to offer payment plans
We recently exhibited at the Pacific Northwest Dental Conference in Seattle. While we were a little last minute in deciding to exhibit, the show was a great success for ExtendCredit.com. Throughout the show, we had more booth traffic than our hard working team could handle. A lot of follow up appointments with dentists, medical billers, and potential resellers will keep our local sales team in the Seattle area hopping for some time to come.
Using payment plans for managing accounts receivable was the hot topic. In today's credit challenged economy, more and more patients are struggling to pay their bills. All too often, medical bills get pushed to the bottom of the pile. Accounts receivable balances at dental practices are getting larger and aging longer.
Offering payment plan options to many of these patients with outstanding balances is good business. With ExtendCredit.com, the dental practice decides which accounts qualify for payment plans and how the payment plans should work. The dental practice controls whether credit checks are performed, and what interest rate and payment term to set.
ExtendCredit works with the dental practice to design a "best practices" approach to communicate the offer to the patients and get them signed up. Once signed up, ExtendCredit's automated system takes over for collecting payments from the patients and handling any missed payment situations. The dental practice has real-time access to patient payment activity to stay on top of weekly cash flow from the payment plans. Using ExtendCredit.com, offering payment plans as a cash flow strategy for existing accounts receivable is simple, highly automated, and effective.
To learn more about how ExtendCredit.com can help you manage your accounts receivable better call us today at 888-364-2808, or email us at sales@extendcredit.com. You'll be glad you did!
Using payment plans for managing accounts receivable was the hot topic. In today's credit challenged economy, more and more patients are struggling to pay their bills. All too often, medical bills get pushed to the bottom of the pile. Accounts receivable balances at dental practices are getting larger and aging longer.
Offering payment plan options to many of these patients with outstanding balances is good business. With ExtendCredit.com, the dental practice decides which accounts qualify for payment plans and how the payment plans should work. The dental practice controls whether credit checks are performed, and what interest rate and payment term to set.
ExtendCredit works with the dental practice to design a "best practices" approach to communicate the offer to the patients and get them signed up. Once signed up, ExtendCredit's automated system takes over for collecting payments from the patients and handling any missed payment situations. The dental practice has real-time access to patient payment activity to stay on top of weekly cash flow from the payment plans. Using ExtendCredit.com, offering payment plans as a cash flow strategy for existing accounts receivable is simple, highly automated, and effective.
To learn more about how ExtendCredit.com can help you manage your accounts receivable better call us today at 888-364-2808, or email us at sales@extendcredit.com. You'll be glad you did!
We are exhibiting at the Pacific Northwest Dental Conference June 17-18th - Booth 215
If you are planning on attending PNDC in Seattle this week, make sure to stop by our booth (# 215) to say hi and learn more about the great services ExtendCredit.com offers Dentists and Medical Billers.
Sponsored by the Washington State Dental Association (WSDA), the Pacific Northwest Dental Conference (PNDC) offers two days of continuing dental education with over 50 nationally-renowned speakers and a dental trade show of more than 350 exhibits. With almost 9,000 attendees, the PNDC is the largest gathering of dental professionals in Washington.
Contact sales@extendcredit.com to arrange a time to meet while at the show or to learn more about ExtendCredit.com.
Sponsored by the Washington State Dental Association (WSDA), the Pacific Northwest Dental Conference (PNDC) offers two days of continuing dental education with over 50 nationally-renowned speakers and a dental trade show of more than 350 exhibits. With almost 9,000 attendees, the PNDC is the largest gathering of dental professionals in Washington.
Contact sales@extendcredit.com to arrange a time to meet while at the show or to learn more about ExtendCredit.com.