Increase Case Acceptance. On Your Terms

The ExtendCredit (EC) payment plan module was created to simplify and advance what many dental practices already do, offer payment plans to patients who cannot cover the complete treatment cost through credit, cash-on-hand or insurance. Many practices struggle to do this manually, holding checks and credit cards and all are looking for ways to limit risk while not having the patient walk out the door or opt for partial treatment. EC provides the industry’s most advanced software solution, built on best practices, and proven flexibility while delivering industry-leading results. EC automates the process which enables practices to build their brand, attract and retain patients all while maximizing the ability to collect their fees.

Our exclusive Get Offers feature ensures that from day one, payment plans offered meet the risk criteria set by the practice. This exclusive feature, along with extensive missed payment tools, enables you to make sure staff can only create plans you are comfortable with and are confident will perform. Availability of tools to help keep the patient on track will help you maximize performance.

Follow best practices
Automation for ease of use by staff
Payment worthiness identification
Flexibility and control

Automated risk–based decisioning
Fees to offset risk
Patient communications

How It Works

Setup

Our exclusive “Get Offers” templates make it quick and easy to set up, by procedure type, down payment required, terms, interest rate and credit rating all by patient risk rating. You have complete control and can adjust the configuration as you get comfortable with your program. This allows you to define and ensure only those risk profiles you approved show up during the patient application process. Plus, the EC team is with you at every step to make adjustments as needed.

Application Process

Enrolling a patient is easy. The application is all on one screen. Enter the procedure amount and down payment, then select Get Offers and all offers that are available for that patient will appear based on their risk category. All the forms you need are included. Once the patient signs and you take the down payment, the system goes into action.

Management

Leading cloud-based technology automates monthly billing and payments, depositing them into your account. Reports, expiring credit card alerts and extensive missed payment tools make continued management of your plan portfolio easy. Take the risk out of payment plans and grow your practice.

Easy Application and Approval

During the set up process, we work with you to determine what offers (interest rate, credit risk, term, etc.) you are willing to make to patients, then we define the rules in the system so that only an administrator can override your defaults. Our simple step-by-step process lets you sign up and approve in-house payment plans for patients within minutes using one simple screen.

Documentation

The EC In-House Payment Plan solution includes all necessary payment plan agreements.

Automated Billing and Payment Setup

EC In-House Payment Plans are specifically optimized to minimize workload. Once approved, the system takes over handling every aspect of the payment plan providing significant automation to ensure fast and easy program management. EC automates monthly billing and payment collection along with various reports allowing you to easily monitor your payment plans and their progress.

Patient Communications

EC automates communication with the patient to help maximize repayment and minimize workload on practice staff. Communications include new plan welcome email, payment reminders, missed payment notification and more. EC also provides a branded, cloud-based patient portal allowing the patient to check account status, review statements and payments, update personal information and make payments. Providing self-service tools and solutions for patients is a key part of saving valuable time for you and your staff.

Robust Technology

EC is a cloud-based SaaS platform, so there is no new software or hardware to purchase. Developed using the most robust security features and technology available, EC is accessible from any browser and offers the industry’s highest quality rating. Our core technology is the same one used by leading companies and industries worldwide to process more than 50 billion recurring transactions annually. Our sister companies manage hundreds of thousands of payment plans across multiple industries with an industry leading success rate.

Enterprise and Multi-Location Functionality

If you are a multi-location practice, EC can enable very robust multi-location features including location level control over origination rules, documentation, portal branding, override thresholds, commissions and performance pay and much more. Additionally, enterprise level reporting and control are available to manage activity across all locations, with the ability to drill to each location’s details.

Benefits and Features

Take Control of Patient Financing

One integrated platform
Flexible, use as an integrated solution with membership or stand alone to grow business and recurring revenue
Integrated instant credit/banking/fraud check to help minimize risk
Rules based origination to make sure that your risk tolerance is managed
Fast approvals:
- Enter plan amount and get available offers
- Enter basic patient information and payment method
- Complete the plan

Increase Profits and Wealth

Save 3rd party financing fees
Charge fees with the payment plans to offset risk
Increase case acceptance for both patients approved by 3rd party financing (with gaps) or patients that were rejected
Using a Doing-Business-As (DBA), helps a practice run the program while separating financial conversations from practice conversations.

Recurring Revenue Stream

Easy, monthly auto debits, with patient specified optimal debit date
Advanced missed payment management to get patients back on track if they miss a payment
Various A/R reports including cash flow forecast

Stay Legal and Compliant

Built-in, legally compliant, customizable agreements
Secure management of all confidential information
PCI compliant

Minimize Impact on Staff

Automatic recurring billing, with ability to customize day of month billing per patient
Direct debit from patient’s account
Automatic notification to patient on missed payments
Auto re-attempt to rectify missed payments
Email notifications
- Prior to upcoming debits
- After missed payments
Missed payment management tool for ease-of-use and flexibility in getting patients back on track
Advanced reporting to reconcile billing and payments
Various tools for managing adjustments to the payment plan
Patient portal allows patients to self-serve and answer most, if not all of their questions
Training on backend administration

Frequently Asked Questions

Many dentists use in-house payment plans as a part of their overall strategy for getting patients the care they need. In-house payment plans allow the practice to take a second look after third party denials, or address gaps in available credit from third party financing. Many are finding that the increase in case acceptance, savings in 3rd party financing fees and additional interest charged on the note can make a significant difference in the financial performance of their practice.

Can I determine the terms and fees of the In-House Payment Plan?

Yes, you are in control of everything when you set up the in-house payment plan. In the upfront set up process, we work with you to determine your acceptable level of risk and then build the rules into the system. From there, for a particular patient, your staff only sees what offers are available for a given patient. The system supports an “admin” level override for special circumstances.

How much staff time is required to manage in-House Payment Plans

We understand that you are busier than ever before. That is why we designed our in-house payment management software with an emphasis on ease-of-use and automation. Generally, all you need to do is process new patient applications, which can be done within minutes using just one online form housed on a single screen. The system handles the rest for you – from billing and tracking to payment collection and deposits to your account.

How is the money collected from the patient?

In EC, you set up monthly automatic debits by simply obtaining the patient’s payment information during the application process and selecting the optimal day of the month on which to debit the patient’s account

Do my patients receive a statement or invoice?

An email is automatically sent to patients three days before their payment is scheduled for processing notifying that there is a statement available on the patient portal.

How does my practice receive payments?

Payments collected from your patients are automatically deposited into your account, as funds are available. If using ACH, funds are deposited weekly as they are cleared.

What about special requests, such as moving a payment date, or the need to postpone a payment?

You are in control. EC includes the flexibility and tools to meet the unique needs of your practice. Various tools are provided to deal with virtually all cases where flexibility is required to work with the patient to keep them on track. EC manages the behind the scenes work to ensure that fees and principal balance are properly calculated, based on the tool used. This is very important for a practice to ensure that legal compliance is met.

What if a patient misses a payment?

The software automatically retries failed payments, which clears up many problems. If a payment is still in default following the retry process, the issue is placed on our Payment Issues report and our team reaches out on your behalf.

What are the start-up costs? Is there hardware and software to purchase?

ExtendCredit is a leading cloud-based SaaS solution, allowing easy and secure access from any computer with an internet connection using any standard browser. There is no software to download and no equipment to purchase.

How do I know if I should offer extended credit to an individual?

EC provides a robust platform for getting the right offer to the right patient. You can control fees and repayment terms, by risk category, patient risk profile, plan amount and state. During your initial system training, we review this process with you and configure the rules to meet your needs.

What if I need to deny credit?

If credit is denied, EC provides you with a written Denial of Credit letter that is compliant with the Equal Credit Opportunity Act. In turn, you provide that letter to the applicant to explain the reason(s) their application was denied and what their rights are under these circumstances. Any questions are answered by EC, making it easy for your staff.

Is my patient data protected?

Yes, absolutely. Your patient and business data are always secure. At EC our top priority is keeping your data secure and protected. Our data center is certified for the highest level of security and all data is encrypted using the latest security technology.

Who is ExtendCredit?

ExtendCredit (EC) is a privately held corporation based in Irvine, California. Our proven financial services platform is based on more than 25 years of billing and payment software expertise for the most demanding applications.