Financing FAQ's

For Clinic Owners

Q: Do I need to offer all three financing options? A: No, but offering multiple options increases approval rates and gives patients choices. Start with one, add more as you get comfortable. Most successful clinics use all three tiers.

Q: What does it cost to offer financing? A: PatientFi and Cherry: Small percentage of the transaction (varies by agreement). Stripe BNPL: Standard payment processing fees (check your Stripe rates). You get paid in full upfront, they handle the risk.

Q: Will this actually increase my revenue? A: Yes. Industry data shows 20-40% higher average transaction values when financing is offered. Even if only 25% of patients use it, those patients buy larger packages.

Q: What if patients don’t pay back their financing? A: That’s not your problem. The financing company assumes all credit risk. You get paid in full upfront regardless of whether the patient pays them back.

Q: How long does setup take? A: PatientFi/Cherry: 1-2 days for account approval. Stripe BNPL: Instant if you already use Stripe. Full implementation (staff training, materials): 2 weeks.

For Staff

Q: What if the patient gets denied? A: “Let’s try our other financing partner, they sometimes approve when the first one doesn’t.” Or offer Stripe 4-pay for smaller amounts, or suggest a smaller package they can afford.

Q: Do I have to mention financing to every single patient? A: Yes. You don’t know who needs it. Some patients who could pay cash actually prefer financing. Make it standard practice, not a judgment call.

Q: What if they ask me which financing option is best? A: “It depends on the purchase amount. For smaller treatments under $1,500, the 4-payment option is quickest. For larger packages, let me show you both Cherry and PatientFi so you can see which gives you better terms.”

Q: How do I bring up financing without sounding like a salesperson? A: Use the “and/or” method: “This is $2,000 today or $120/month.” It’s just stating facts, not selling. You’re giving them information to make their decision.

Q: What if I forget to mention it? A: Mention it at checkout as a last chance: “Just to confirm, did you want to pay in full today or set up monthly payments?” Better late than never.

For Patients (Anticipated Questions)

Q: Will this hurt my credit score? A: Cherry and PatientFi use soft credit checks that don’t impact your score. Stripe options (Afterpay, Affirm, Klarna) have no credit check for the 4-pay options.

Q: What’s the interest rate? A: It varies by financing option, term length, and your credit profile. The 4-pay options are typically interest-free. Longer-term financing through Cherry/PatientFi may have interest. We can show you exact rates when you apply.

Q: Can I pay it off early? A: Yes! All three options allow early payoff with no penalties.

Q: What if I miss a payment? A: Late fees may apply depending on the platform. All platforms send reminders before payments are due. It’s important to stay current, but if you’re having trouble, contact the financing company directly to discuss options.

Q: How long does approval take? A: Stripe options: Instant. Cherry/PatientFi: 60 seconds or less.