COSTA MESA, CALIF., FEBRUARY, 2010 – The Academy of Dental CPA’s (www.ADCPA.org) recently validated and approved an analysis verifying patients who use CareCredit to pay for dentistry accept 44% more care over the five-year period following their initial transaction than patients without CareCredit as a financial resource.
The 2009 study analyzed more than 1 million households and compared the behavior of patients who chose CareCredit as a financial resource, to those using cash, credit cards or another method of payment. The study found, over the five-year period following their initial CareCredit transaction, patients with CareCredit were more loyal and more likely to accept treatment recommended by their dentist, investing 44% more in their oral health (as measured in dollar value) and visiting the practice 25% more often. This study supports the 2005 ADCPA Report that CareCredit increases practice production an average of 25.3%.
ADCPA 2009 Study Key Findings:
•In the initial year the CareCredit account was opened, patients accepted 282% more recommended dental services and visited the practice 62% more often.
•In the following five years, patients with CareCredit accepted 44% more recommended dental services and visited the practice 25% more often.
“The ADCPA works with dentists on a daily basis and we’ve always hypothesized that CareCredit positively impacts patient behavior,” said Rick Willeford, President of the ADCPA. “This study analyzed a significant sample size – over 1 million patients – and was able to quantify the positive impact over a 5 year period. CareCredit’s revolving line of credit provides an ongoing financial resource for patients that positively affects their behavior in the dental office. They visit the practice more often and accept more dentistry, demonstrating their loyalty to the practice in clear, quantifiable ways.”
“There are many reasons why a patient may not accept their doctor’s treatment recommendations, including their personal financial situation. The ADCPA study verifies that when you give patients a flexible financial resource, it’s easier for the patient to accept care and fit dentistry into their lifestyle and budget,” stated Dave Fasoli, President of CareCredit.
About the ADCPA: The ADCPA is a national association of accounting firms that specialize in meeting the unique needs of the dental practice. For more information on the ADCPA, visit www.adcpa.org.
About CareCredit: For more than 20 years, CareCredit has been making it easy for patients to get the dentistry they need and want. Today, CareCredit is at work in more than 125,000 practices in the nation and has been used by over 8 million patients. CareCredit is exclusively selected for their members by most state and national dental associations, including ADA Business ResourcesSM*, AGD, AAOMS, and AAP, and is also recommended by leading practice management consultants. For more information on CareCredit, call 1-800-300-3046 ext. 4519 or visit www.carecredit.com to view the full study report.