Improving consultation conversions with patient financing

Improving consultation conversions with patient financing

Cost is one of the biggest barriers preventing patients from moving forward with aesthetic treatments. In this episode of True to Form, host Tim Sawyer chats with Andy Cahoy, VP of Sales for Cherry Patient Financing, about how offering financing options can reduce barriers to entry, increase consultation conversions, and improve the overall patient experience.

Removing the Cost Barrier

Cahoy's central message is that financing helps patients say yes by making treatments more accessible. Many patients are interested in treatments but hesitate because of the upfront cost. By offering financing, practices remove a major obstacle, allowing more patients to proceed with the care they want. Financing turns a daunting lump sum into manageable payments.

Boosting Consultation Conversions

A core focus is how financing improves the rate at which consultations convert into booked treatments. When cost is no longer a barrier, more patients move forward.

• Fewer lost opportunities. Patients who would otherwise decline due to cost can proceed.
• Higher conversion rates. Removing the financial barrier increases the percentage of consultations that convert.
• Larger treatment plans. Financing can enable patients to pursue more comprehensive care.
• Reduced sticker shock. Monthly payments feel more manageable than large upfront costs.

Improving the Patient Experience

Beyond conversions, Cahoy emphasizes that financing improves the patient experience. Offering flexible payment options shows patients that the practice wants to help them achieve their goals, reducing the stress and pressure around cost. A smooth, supportive financing process makes patients feel cared for and respected.

Financing as a Growth Tool

Cahoy frames patient financing not just as a convenience but as a genuine growth tool. By enabling more patients to proceed and to pursue more comprehensive treatment plans, financing can meaningfully increase a practice's revenue. It expands the pool of patients who can access treatments, growing the business while serving more people.

Implementing Financing Effectively

To realize these benefits, financing must be offered thoughtfully. Cahoy discusses the importance of integrating financing smoothly into the consultation and patient journey, ensuring that staff are comfortable presenting it and that the process is easy for patients. When implemented well, financing becomes a natural part of helping patients move forward.

Key Takeaways for Practice Owners

• Remove the cost barrier. Financing makes treatments accessible to more patients.
• Boost conversions. Removing financial obstacles increases consultation conversion rates.
• Improve the experience. Flexible payment options reduce stress and show patients you care.
• Treat financing as a growth tool. It expands access and can meaningfully increase revenue.

Cahoy's insights make a compelling case that offering patient financing is a practical, high-impact way to convert more consultations, serve more patients, and grow a practice while improving the patient experience.