There are a lot of reasons to offer payment options that include monthly auto-debits as opposed to just offering a discount for a full prepay:
- We want to offer a Frictionless payment experience.
- It's easier for patients to sign up because they can more easily afford monthly/weekly/or biweekly payments.
- Patients don't feel pressured when given payment options.
- Patients more easily transition to long-term practice members when paying monthly/weekly/or biweekly auto-debits.
- The money you collect on a prepay is not yours until you render the services and is subject to a refund.
- When your collections are based on auto-debits, your monthly collections do not go up/down too easily.
- When options are given, patients that do elect to prepay tend to stay in your practice much longer.
- Patients (and you) are used to making payments.
- Payments are a better fit for creating practice members. Memberships are typically paid with monthly payments, whereas a one-time purchase (like a prepay) is typically used for a one-time purchase.