PATIENT FINANCING
Why to Offer It and Which Providers Fit Your Practice
Patient financing is one of the simplest ways to raise case acceptance, and the lender you choose affects your margins, approvals, and reviews. With dental insurance only covering a small percentage of larger procedures like crowns and implants, many patients look for financing options to make up the difference.
Why Offer Financing
Higher case acceptance. In case acceptance research, practices that added financing options saw case acceptance increases of 20%.
Paid up front, no collections risk. The lender pays you in full (minus a merchant fee) within 1 to 3 business days and absorbs any patient default.
Lower A/R. With the patient portion being paid via financing, practices with financing options see lower A/R totals and less billing for the front office to handle.
Bigger treatment plans. Patients approved for the full amount accept comprehensive care instead of phasing treatment until they can afford it.
Trade-offs to Manage
Merchant fees. Fees range from 1.9% up to 14.9% depending on the amount and time period financed.
Deferred-interest backlash. Patients hit with back-interest after the “0% Promo” ends often blame the practice that recommended the financing option.
Approval rates. A lender that declines a third of applicants leaves those cases unscheduled.
Unpublished fee schedules. "As low as" rates depend on your volume and plan mix, so it is critical to get a written rate sheet to determine your actual rate.
How the Five Providers Compare
What your patients experience
Every lender advertises 0%, but deferred-interest cards charge the interest back to day one if the balance isn't paid in time.
That issues shows up in reviews: the true 0% plans score 4.7 to 4.8, the deferred-interest cards 1.1 to 1.8.
Quick Summary of Patient Financing Providers
Cherry: Offers true 0% for qualified patients and boasts a strong 4.8 out of 5 Trustpilot rating.
Sunbit: Delivers high approval rates, charges no patient late fees, and provides no-interest plans without adding extra practice fees.
Proceed Finance: Acts as the big-case specialist, lending up to $75,000 with terms extended over 12 years. Note that they do not offer a 0% interest option.
CareCredit: Features strong patient brand recognition, making it worth keeping as an option, but it should not be your primary recommendation.
Alphaeon Credit: Operates similarly to CareCredit but provides less fee transparency, making it difficult to recommend.
Steps to Successful Patient Financing
Lead with Cherry or Sunbit: Select one of these platforms to serve as your primary patient financing option.
Add Proceed Finance for major cases: Incorporate Proceed Finance if your practice specializes in implants or extensive full-arch restorations.
Keep CareCredit as a fallback option: Retain CareCredit solely as a secondary alternative for those patient with CareCredit accounts.
Audit your financial terms regularly: Secure every fee schedule in writing and review your practice's blended rate every six months.
Present options proactively: Offer financing to every single patient before discussing out-of-pocket costs, and consistently track your case acceptance rates.