Monday, August 5, 2013

Marketing Monday: Discussing the contract and fee (video)


We’re extending our selling series one step further and taking you to what is usually the final step in the consultation process: getting the contract signed (or case accepted or whatever your vernacular may be here).  Here’s your opportunity to sum up the consultation day and dig into the financial part of the contract.  As you go through the video, I’d like to point out a few items of interest:
The financial portion focuses on the monthly payment, NOT the total fee – The total fee is mentioned briefly at the end of the process, but most of the financial portion is focused on the monthly payment amount.  In this case, the $129 monthly payment number is the important issue for the patient.  If that number can be fit into the monthly budget, you are going to get a positive response.  If not, pushback will happen and you need to decide whether or not to lower the payment (as discussed earlier) or stick to your payment.  One other item not shown in the video: in this case, this particular practice charges a $516 “retainer” fee (4 monthly payments) to be paid at the time of debond.  If the patient balked at this number, that payment could have been broken into 4 additional future payments or amortized into the existing monthly payment.  If amortized into the existing monthly payment, the monthly payment would be $146 ($516 retainer fee divided by 30 months quoted in the video plus the normal $129 monthly payment).
Call to action – The records payment is cut in half for signing up that day.  The patient is obviously already interested because he or she is there.  This simple call to action gives that one last nudge to get the deal done.
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The process is short and simple – This whole process takes under 4 minutes.  Now, a patient may want to take some extra minutes to review the verbiage more closely in the documents, but the part where your financial coordinator or office manager has this discussion is generally not overbearing.  The patient has been through the whole process already.  There’s no need to get into heavy additional discussion.
Keep it low key and comfortable – As much as you may want to make a deal, you certainly don’t want to come off as a hard-sell, sleazy used car salesman (no insult intended toward the many quality used car salesmen out there).



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