How to Increase Treatment Acceptance with a Non-Prime, Second-Look Finance Program

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Genesis credit

Competition is fierce in today’s economy, making it critical for DSOs and service providers to find more ways of attracting and retaining patients. Yet many offices lose valuable opportunities every day to treat patients by overlooking a huge population segment: individuals new to credit or with challenged credit. Many are eager to accept treatment plans on the spot, but can’t without access to quality financing.

It is estimated that 30% of the US population are non-prime credit consumers, and cost is the most common barrier to obtaining dental care1.  Dental practices face a particular challenge to provide appropriate treatment while maintaining a financially feasible business strategy2.  But, a patient’s inability to afford treatment does not need to be an obstacle.

Non-prime, second-look financing programs can step in, buying deeper than the constrained primary lender. Only Genesis Credit can offer a revolving line of credit instead of the more limited straight credit product. Therefore, only Genesis Credit can provide a truly prime-like experience, delivering the highest quality second-look products and services in the nation. And the difference is powerful. It means approved patients not only can accept treatment immediately, but return for ongoing follow-up and preventive care that would be impossible with other second-look credit products.  It means that Genesis Credit partners can increase treatment acceptance by 20%, while building vital practice loyalty because of the quality treatment and finance support you can provide all your patients.

Genesis credit second look market thin file, non prime, prime and super

Adding patients from the near-prime market can boost revenue dramatically.
Traditional credit scores are often the deciding factor in credit decisions, but over-reliance on FICO scores can underestimate credit worthiness, resulting in staggering results—and sub-optimal dental treatment. Those who have fallen behind on payments because of a lost job or suffered financial losses during the recession may still experience a low FICO rating, but may be considered by Genesis Credit as strong candidates for a second chance. And given that half the non-prime population are millennials, it is important to consider that one-third of them cannot be scored by traditional credit tools because they are not purchasing the homes and cars that render them “visible” to traditional methods (in credit-speak, this is called the “Thin File”). Yet a decision to avoid taking on loans greater than can be adequately handled should not be a sole indicator of unworthiness. It can be viewed as a thoughtful decision, supported with a respectful second-look program like Genesis Credit.

Second Look Provider ChecklistWith Genesis Credit’s customized decision model, we consider multiple factors outside the traditional credit score that focuses on a patient’s unique attributes and extensive consumer data and analytics. This allows the forgiveness of credit-history one-offs and approve more patients for practitioners, boosting revenue dramatically.  No wonder Genesis Credit is the nation’s leading non-prime, second-look provider, having built a reputation for helping provide optimal treatment, affordably.

Build practice retention.
Savvy offices and clinics know that patient engagement with staff is key to creating loyal patients. Unlike the many installment loan products on the market today, the revolving line of credit provided by Genesis Credit allows the patient to use their established line of credit for preventative maintenance, immediate treatment, and follow-up care, allowing you to enjoy a significant average increase in repeat purchase rates of 18%.  Partnering with Genesis Credit allows providers to create direct relationships with satisfied patients—in effect, becoming their provider of choice for all their dental needs.

Why should DSOs make non-prime, second-look patients a priority?
Second-look consumers are highly motivated patients, just like any other consumer. They want the freedom to purchase quality services—both immediately and down the road. Without access to financing, these prospective patients are more likely to leave a physical office or website without making an appointment for treatment.  Even worse, they may be able to finance treatment through a competing DSO.

By contrast, DSOs with a quality non-prime, second-look program like Genesis Credit receive the first opportunity to provide patients with a financing solution and treatment.  The end results are incremental revenue via increased treatment acceptance, and improved market share, patient retention and engagement.

Your financing can reflect the same quality as your service.
Working relentlessly at the intersection of business and service, helping DSOs achieve their financial goals while helping patients receive the treatment they need and deserve, Genesis Credit provides lasting benefits for all.

Give your patients the credit they deserve. Non-prime, second-look financing programs like Genesis Credit help attract patients, build loyal relationships with them, and will drive your DSO to new heights.

At Genesis Credit, you and your patients
are more than just a number.
Believe in second chances.
Partner with us:  888-975-2082


1  “Oral health: A window to your overall health.” © 1998-2020 Mayo Foundation for Medical Education (MFMER).

2   Niodita Gupta, MD, MPH, PhD; Marko Vujicic, PhD: “Main Barriers to Getting Needed Dental Care All Relate to Affordability,” Health Policy Institute ADA American Dental Association Research Brief, © 2019 ADA,  November 2019 (Revised)

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