In today’s dental landscape, offering flexible payment options is becoming essential for practices aiming to improve access to dental treatment and oral health care. Many patients find the upfront cost of treatments a barrier, even when routine care or restorative treatment is needed to maintain healthy teeth.
Introducing monthly payment dentist financing options can help your practice spread the cost of dental care, making treatments more affordable and accessible for patients.
Here’s how to set up these payment plans to help your practice keep patients happy, improve cash flow, and stay compliant with UK regulations.
What are monthly payment financing plans?
Monthly payment financing plans help patients spread the cost of dental treatment over several months instead of paying everything upfront. Patients usually pay a set monthly fee by direct debit from their bank account, making dental costs easier to manage.
While some practices offer their own practice plans, many partner with third-party providers that are not a lender but act as facilitators for finance, enabling repayments subject to credit checks and eligibility.
Why they matter to patients
Dental costs can build up fast, especially for restorative treatments like dentures, dental implants, or laboratory fees for complex work.
When costs are high, many patients find it hard to afford dental care, causing them to delay treatment or miss routine care like hygiene appointments and check-ups.
Monthly payment plans make it easier to access treatment by removing money worries, helping patients take care of their dental health and oral health needs without cutting corners.
The difference between dental finance and dental insurance
Dental finance lets patients spread the cost of treatment over time with monthly payments, usually for specific procedures.
Dental insurance involves paying a regular premium to cover routine care like check-ups and hygiene appointments, but it can come with restrictions, especially for those wanting cosmetic dentistry.
Benefits of offering monthly payment plans
Improving patient accessibility to treatments
Offering payment plans means patients don’t have to worry about paying a large amount of money all at once. This is especially helpful for those who cannot afford to wait for their treatment, but do not have the means to pay upfront.
By spreading the cost, patients can get the treatment they need sooner, even for things beyond routine care like X-rays or restorative work.
Enhancing patient satisfaction and loyalty
Flexible financing helps patients feel more confident in your dental practice, which builds loyalty. They like being able to pay in manageable instalments, making it easier to stick to longer treatment plans and look after their dental health. This helps create better relationships between patients and the practice team, including the dentist and reception team.
Understanding the UK regulatory environment
FCA regulations impacting financing options
It’s important to make sure any financing your practice offers follows Financial Conduct Authority (FCA) rules. Even though your practice is not a lender, the finance provider must be approved and regulated.
This keeps things safe for both the patient and the practice, with clear repayment terms and fair lending.
Data protection and patient confidentiality considerations
Anyone dealing with patient financial information must follow UK data protection laws. It’s important to keep bank account details and repayment records safe. You should also train your practice team to keep patient information private when talking about finance options.
Assessing your practice’s readiness
Evaluating patient demographics and demand
Before implementing monthly payment plans, assess your patient base. Consider who might benefit most from these plans; often, patients requiring extensive restorative treatments or ongoing hygiene appointments find financing valuable.
Understanding patient demand will help you choose the right plan and set elements like the appropriate minimum spend thresholds.
Staff training and resource allocation
Your reception team and dentist should be familiar with the payment options and able to explain them clearly.
Staff training is vital to ensure everyone understands repayment terms, the first payment process, and how to sign up patients quickly, without creating confusion or delays.
Choosing the right financing partner
Key features to look for in financing providers
Choose providers that offer flexible repayment terms, clear fees, and can easily connect with your practice management system. Some providers let patients apply without a hard credit check, making it easier to access finance while still lending responsibly.
Comparing UK-based financing companies
Not all products and providers are the same. Research several UK-based options to find one that suits your practice’s size and patient profile.
Consider customer support, online application ease, and the ability to manage plans for various dental treatments, including both routine care and more complex restorative treatments.
Integrating financing solutions into your practice management system
Technical requirements and compatibility
Ensure that your practice software can accommodate the new payment plans without disrupting appointment booking or billing.
Integration should allow your practice team to easily offer finance at the point of treatment planning and generate clear treatment plans that include payment plan details.
Streamlining appointment booking with financing options
Patients should be able to discuss and sign up for payment plans during initial consultations or hygiene appointments.
Making this process simple helps avoid delays and gets more patients to use it, so they’re more likely to go ahead with treatments they might have put off because of the cost.
Training your team for seamless implementation
Educating reception and finance staff
Reception and finance staff are often the first point of contact for patients interested in dental plans or financing.
Provide thorough training to ensure they can explain the benefits, eligibility criteria, and how to sign patients up quickly, while answering questions about credit, repayments, and eligibility.
Handling patient queries and objections
Some patients may be hesitant about entering repayment plans or concerned about credit implications.
Equip your team with responses that clarify that your practice is not a lender and that finance providers handle credit assessments discreetly and fairly.
Communicating financing options to patients
Effective marketing strategies within the practice
Use posters, leaflets, and your practice website to promote available monthly payment options.
Highlight key benefits such as spreading the cost, manageable monthly fees, and no surprise charges like laboratory fees or hidden costs.
Creating clear and compliant patient information materials
The information you give to patients should be clear and follow UK advertising rules, without any misleading claims. Make sure patients get all the details about repayment terms, if a minimum spend applies, and any credit checks before they sign.
Managing payments and monitoring performance
Tracking repayments and accounting best practices
Keep clear records of patient repayments and ensure your practice’s accounting reflects these monthly fees accurately.
Good bookkeeping helps with cash flow management and identifies any potential issues early.
Using feedback to improve financing offerings
Collect patient feedback regularly on their experience with the payment plans. This can help you adjust terms or switch providers if necessary, ensuring that your financing options continue to meet patient needs and benefit your practice.
Addressing common challenges and concerns
Handling late payments and defaults
Have clear policies in place for managing late or missed payments. Most financing providers will take responsibility for collections, but your practice should be prepared to support patients through repayment difficulties with sensitivity.
Responding to patient concerns
Reassure patients that eligibility is assessed fairly. Transparency about the process helps build trust and encourages more patients to take advantage of payment plans.
Help your patients cover the cost of their dental treatment with Medicred
At Medicred, we know that many patients put off important dental treatment because of upfront costs. By working with us, your practice can offer flexible monthly payment options that help patients spread the cost, whether it’s for routine check-ups, hygiene appointments, or more complex treatments.
Our process is quick and easy for both patients and your practice team, with no hidden fees and fast access to finance. Signing up your clinic on our website is free and only takes a few minutes. Once you’re approved, you can offer interest-free and interest-bearing plans that suit your patients’ needs.
Join Medicred today and help more of your patients afford the dental care they need!
FAQs
How do I decide who is eligible for dental financing?
Deciding who is eligible for dental financing starts with looking at the patient’s treatment needs and ability to manage monthly payments. Most practices consider patients who require treatments above a minimum spend, such as restorative treatment, dentures, or laboratory work. Routine care like hygiene appointments or check-ups can also be included if the plan allows. Some finance providers may require a simple credit check, but your practice itself is not a lender.
It is also important to ensure patients understand the repayment terms, monthly fee, and how direct debit works. Clear communication helps patients make an informed decision and commit confidently to the plan.
Which treatments should be financing be offered for?
Dental financing can be offered for a wide range of treatments, from routine care to more complex procedures. Most practices include restorative treatment such as fillings, dentures, crowns, and laboratory fees. Hygiene appointments, check-ups, and X-rays can also be included, especially if a practice plan or minimum spend applies.
The key is to offer financing for treatments that patients might otherwise delay due to cost. Plans should cover both essential dental care and treatments that help maintain healthy teeth and overall dental health. Clear communication about what is included ensures patients understand their options and can commit to treatment.
Will I need to perform credit checks on patients?
Whether a credit check is needed depends on the finance provider you use. Many providers will carry out a simple credit check to confirm a patient’s eligibility for monthly payment plans. Your dental practice itself is not a lender, so you do not need to perform the check.
Some providers offer plans that do not require a hard credit check, making it easier for patients to access finance. It is important to explain to patients that eligibility is subject to the provider’s criteria. Clear communication helps patients understand the process and feel confident about signing up for a plan.
How do I track finance uptake and repayment performance?
Tracking finance uptake and repayment performance starts with keeping clear records of which patients have signed up for payment plans. Most financial providers offer online dashboards that let you view active plans, monthly fees, first payments, and repayment schedules.
You should regularly review these records to monitor how many patients are using the plans and whether payments are being made on time. Sharing this information with your practice team helps identify any issues early. Monitoring uptake also shows which treatments are most popular under the plans, helping you adjust offerings to better suit patient needs and maintain healthy dental care.
Can monthly plans help improve patient retention?
Yes, monthly payment plans can help improve patient retention by making dental treatment more affordable and accessible. When patients can spread the cost of treatments, including routine care, hygiene appointments, and restorative work, they are more likely to continue returning to your practice.
Offering flexible finance shows patients that your practice cares about their dental and oral health needs. It helps build trust and loyalty, as patients feel supported in managing dental costs. Over time, this can lead to long-term relationships, with patients staying for ongoing check-ups, treatments, and maintenance of healthy teeth.
Should I use a third-party finance provider or handle all dental payment plans in-house?
Using a third-party finance provider can make offering dental payment plans easier and more secure. These providers handle credit checks, repayment tracking, and direct debit collection, so your practice does not act as a lender. This reduces risk and ensures compliance with UK regulations.
Handling plans in-house gives you more control over fees and repayment terms, but it requires extra administration and careful management of patient bank details. Most practices find third-party providers simpler, especially for larger or more complex treatments. The right choice depends on your practice size, resources, and the level of support you want for your patients.
How do I handle patients who miss payments?
If a patient misses a payment, start by checking the finance provider’s records. Most third-party providers handle late payments and will contact the patient directly, so your practice does not need to act as a lender.
It is important to communicate clearly with the patient about their plan and any missed payments. Remind them of the repayment terms, monthly fee, and first payment details. Where possible, offer support or adjust the plan if allowed by the provider. Keeping the process professional and transparent helps maintain trust while ensuring the patient can continue with their dental treatment.
Can patients get approved for dental finance quickly so they can start their treatment?
Yes, many patients can get approved for dental finance quickly, often within a few minutes online or during their appointment. Finance providers usually carry out a simple eligibility check, which confirms whether the patient can spread the cost of their treatment.
Once approved, patients can sign the agreement and start their dental treatment without delay. This applies to both routine care, such as check-ups and hygiene appointments, and more complex treatments like fillings or restorative work. Quick approval helps patients access the care they need while keeping the process smooth and convenient for your practice team.
Do I need to be FCA authorised or approved to offer dental payment plans?
If your practice offers finance directly to patients, you may need to be FCA authorised. This is because providing credit yourself counts as lending, and FCA approval ensures you follow the rules for responsible lending, repayments, and credit checks.
If you work with a third-party finance provider, your practice does not need FCA authorisation. The provider, who is the lender, must be FCA authorised and regulated. They handle credit checks, repayments, and terms, while your practice focuses on treatment. Either way, clear communication with patients about repayment terms, monthly fees, and whether any minimum spend applies is essential.
What are the best ways to market to patients that we offer monthly payment plans for treatment?
The best ways to market monthly payment plans start with clear communication within your practice. Display information in the reception area, use leaflets, and talk to patients during check-ups, hygiene appointments, or treatment plan discussions. Your practice team should be able to explain how the plans work, including monthly fees, repayment terms, and any minimum spend requirements.
You can also use your website and social media to reach patients before they visit. Highlight the benefits of spreading the cost, making treatments like fillings, dentures, or restorative treatment more affordable. Clear and simple messaging helps patients feel confident to sign up.