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CrossCheck Blog

Check Processing & Payments Information

Electronic Payment Services for the Dental Industry

Posted by Brandon Weaver | Mon, Apr 23, 2012 @ 10:00 AM

Maintaining good oral health is important to all of us. It improves self-esteem, ensures comfortable eating, and boosts overall health.  It's no secret, even if it is a phobia, the dental industry greatly enhances quality of life.  

With a variety of dental services available including: Braces, retainers, fillings, whitening, removal, implants and crowns; the cost is expensive for consumers.  Recent statistics tell us that:

  • The “American dental-service economy generates roughly $60 billion per year in patient fees and practice activity.” 
  • Regarding dental implants and prosthetics specifically, MarketsandMarkets.com indicate the “global market was valued at $6,781.7 million in 2011 and is expected to reach $10,562.2 million by 2016.” With dental implants and prosthetics covering such a broad segment of the industry, it's no wonder the total value is consistently growing and profitable:

dental implants, dental industry

With the continued popularity of dental implant surgery and an aging society, looking at just one age-based market segment, an electronic payment service is more important than ever. Older generations are also losing more teeth due to decay and gingivitis, increasing their odds of needing dental implants, which are often not covered by insurance.  This means out-of-pocket expenses and your customers need payment options, including payment by check. 

Furthermore, as www.dentaleconomics.com shows below, “the number of people ages 60 to 79 is projected to grow from 36.4 million in 2000 to more than 68 million in 2025, an increase of 87 percent.”  

dental industry, baby boomers

Dentists, orthodontists, and other specialized oral surgeons benefit from electronic check payment services because they don't receive many cash payments.  To help dental practices increase their cash flow and guarantee payments by check, CrossCheck offers a suite of services that save time and money, decrease risk, all the while increasing customer satisfaction. They are:

  • Remote Deposit Capture (RDC) – desktop conversion using a PC and check imager, instantly guaranteeing a patient’s check
  • Conversion Plus – reduces bank fees, online reporting available 24/7/365
  • Multiple Check – allows multiple checks to be written for a single purchase, and are guaranteed up to an approved maximum dollar amount

All three services guarantee payments instantly at the point of sale, which improves cash flow and reduces risk.  With these services in place you have peace of mind, allowing you to focus on what matters most, patient health. 

For more information, fill out a proposal request or download our RDC White Paper and a representative will contact you as soon as possible.

                                       

remote deposit capture
            

Topics: Dentists, Electronic Check Processing

Written by Brandon Weaver