February 2009
Volume 5, Issue 2

ChaseHealthAdvance

Barry Trexler, Senior Vice President, Sales and Marketing

Question No. 1

Inside Dentistry (ID): What is ChaseHealthAdvance?

Barry Trexler (BT): ChaseHealthAdvance is a patient-financing product that is part of Chase. ChaseHealthAdvance provides attractive payment options that healthcare providers can offer to their patients to finance orthodontia and dental treatments. We give providers practice-building strategies and technology to increase treatment acceptance and grow revenue.

Question No. 2

ID: What exactly differentiates ChaseHealthAdvance from other lenders’ offerings?

BT: What really attracts patients are no-interest payment plans. With no-interest programs of 3, 6, 12, 18, and even 24 months, ChaseHealthAdvance offers the most comprehensive range of this very popular financing product.

Essential to this business is the approvals process. We know that even if we have great payment plans and low service fees, if applications are not approved, that doesn’t work for anyone—the practice, the patient, or us. We have implemented custom scorecards that allow us to maximize our approval rates so we can approve applications that other lenders may decline. We also issue all approved patients a minimum credit line of $5,000, so they can accept a provider’s prescribed treatment plan.

Technology is another critical area where we believe we are clearly the leader in this business. Our provider Web site, www.HealthAdvance-Online.com, allows providers to submit and track patient applications, submit fundings, and view reports. HealthAdvance-Online also offers a wide range of free marketing tools and services.

Last, but certainly not least, ChaseHealthAdvance believes in the highest standard of customer service. Every provider is assigned a knowledgeable practice consultant who trains the doctors and staff regarding financing options. Our practice consultants are always just a phone call away. When you call us, you don’t get an automated phone system with a punch-the-numbers menu, you speak directly to a person.

Question No. 3

ID: The dental industry and the oral healthcare arena have been changing rapidly within the past 5 to 10 years. What do you see as the most significant of those changes?

BT: We continue to see tremendous innovation in all areas of dentistry, especially in the areas of esthetic dentistry. Innovation in the field of dentistry has allowed dentists to be even more of an advocate for their patients because they are able to diagnose and present comprehensive treatment. For example, cone beam technology is an example of recent technology that allows the dentist to enhance diagnosis and treatment planning and allows for predictable outcomes for the treatment. Aligner trays and advances in veneer applications make it easy for the patient to say yes to comprehensive treatment. Also, I would say that there has been a change in the way dentists and manufacturers market their services. There have been advances in marketing tactics as dentists become more sophisticated in the marketing of their practice and services they provide. In addition, several manufacturers have embarked on direct-to-consumer campaigns, which have provided value to the dentist as these campaigns bring new patients to their practice.

Question No. 4

ID: In what ways—both internally and in dealing with the broader oral healthcare marketplace—has your company responded to these changes?

BT: ChaseHealthAdvance has been a leader in providing innovative financing for patients. For example, we are one of the first-to-market with a 24-month, no-interest program. This program allows the patient to receive their comprehensive treatment with an affordable payment plan without incurring interest. ChaseHealthAdvance has the most extensive presentation and financing reporting tools for dental practices available in today’s market. As the oral healthcare industry has seen tremendous advances in technology, ChaseHealthAdvance has provided advanced products and tools that aid in the presentation and acceptance of affordable financing. We also provide innovative ways for the dentist to introduce financing. We have dynamic links to our patient Web site that the dentist can place on their own Web site, so that the patient can apply directly for a ChaseHealthAdvance account. For treatment consultation, we provide the practice with an online payment options worksheet that can be customized by the practice to eloquently present their full range of payment options to the patient. Another thing to point out is that we do not approach the dental industry with a broad brush. Our financing products are specifically tuned to each area of dentistry. For example, we have specific plans for general, orthodontia, and implant dentistry.

Question No. 5

ID: What do you see as your biggest responsibility to the marketplace, and why does your choice rank as your #1 priority?

BT: At ChaseHealthAdvance, we need to continue to do two things: first, be an advocate for the patient and the dental practice and, second, continue to be the leader in innovation. We will continue to be both in 2009 and beyond. In our mind, advocacy and innovation go hand-in-hand. Providing dentists with new innovative financing and marketing tools demonstrates advocacy for their practice and their patients. We are already an advocate for the dentist. As mentioned earlier, we are one of the first-to-market with a 24-month, no-interest product, we are easy to do business with, we assign a practice financing consultant to each dental practice, and the practice can contact their practice consultant easily, without navigating through phone system menu items. We will continue to go to our providers and ask them what they need from us to better provide financing options to their patients. I am very proud of our team as they have all demonstrated a passion for discovering what we need to provide to dentists and their patients.

About the Author

Barry Trexler
Senior Vice President, Sales & Marketing
Chase Health Advance
Carol Stream, Illinois

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