Fontainebleau Miami Beach, FL
December 1st & 2nd
The Closing Institute’s Full-Arch Growth Conference
Kelly Michelle: Good afternoon everybody. Happy Wednesday. We’re just trying to go through and admit everyone. I am Kelly Michelle, one of the sales trainers here at Progressive Dental in the closing institute. I know many of you I have the pleasure of working with, and some I haven’t had a chance to meet with yet, but it’s a pleasure to be on the full arch sales critique call today. Alongside, Danny Salazar.
Danny Salazar: What’s up guys? How’s it going? I heard someone in the back already close in to reply financing.
Kelly: Welcome to the call today. We’re on these calls every month with you guys, and then helping overcome objections and talking with everyone of practices. I thought it was great. It would be a good example to choose a video that closes and one that has a great ending to it both for the patient and the practice.
And not only that, it shows a great example of a treatment coordinator that goes kind of over and beyond, identifying solutions to get the patient exactly to his desired clinical outcome, at least the beginning stages of it.
So Christy with Dr. Glenn’s office Live Oak Oral Surgery of Texas. Hi Christy. How are you?
Christy: I’m doing well. How are you?
Kelly: Good, thank you. I just wanted to say thank you for being just so patient with this particular patient that comes in. He is so emotional. You can just tell this is something he’s wanted for many, many years.
Like I said, so many people do, right? They come into our practices. This is something that they’ve wanted. For many, it seems like a lifetime. However, finances always seem to come in the way. So this is a great example where she kind of goes through the 10, 10, 10. Almost perfectly, and then kind of gets to the financing part.
He wants to go forward., she initiates getting him approved forward with financing, but they’re still short. Like they only get approved for a certain amount and they need more. So she thinks outside the box and decides to come up with other ways that they can come up with the rest of the money.
So they also apply with care credit to see what he might be able to get qualify for with that. And then, you know, they offer some in-house financing and it just kind of shows that a lot of times there are extra steps that are needed in the end of the third 10 in order to get the clients to their desired outcome, and to get them as Christy calls in three treatments or three office visits away from I guess their life changing.
Christy, how do you say that?
Christy: That day I was just like, you’re three visits away from your new smile basically.
Kelly: Right. Really, congratulations. You did a great job on it, and this is just a great opportunity where we can kind of show, I’m gonna start, and kind of go through some parts of the video and we can kind of stop and talk about it.
Christy: I am driving at the moment, so if I do have weird audio, that’s the reason. But I’ll try to answer where I can.
Kelly: Okay. No problem. Okay, So I’m gonna get to kind of where the first 10 starts, and we do have transcription now. So if the audio’s a little bad, you can still..
Okay, this is actually now the third 10 where when the patient comes in, they go through again, Christy does an absolutely great example of asking the questions that help identify the patient’s desired clinical outcome.
Unfortunately, we don’t get this all the time, but the patient does a great job of describing exactly what it is that he wants. So she very easily can determine that. And at that point, they go into the second 10, and that isn’t recorded. It goes right into the third 10, so this is the point where they have now determined that he’s a candidate, and she begins to celebrate candidacy.
FeBobby 1: Do you guys chat, Christy?
Christy: No, I don’t.
Well, that’s exciting news.
Bobby: Yeah, he is awesome. Just his aura. I felt him. So sincere.
FeBobby: 2: He’s very sincere. We love him. For sure.
Bobby: I’m a person and I can feel that someone really has been sincere.
Christy: Yeah. Well, he is the perfect person to take care of you in this situation. Well, um, I know this is the part that nobody likes is having to go over all of this stuff.
Bobby: This is the most important part.
Christy: This is the most important part. This is the big investment that we talked about. In his option here for you is he definitely thinks that you would benefit more from the fixed.
But you heard him that if that just can’t work for you, we can make this one happen as well. Okay? Now, if you are able to and you decide to move forward with the treatment, you’re just three visits away of having your teeth.
Bobby: Oh wow.
Christy: That’s amazing, huh? I mean, just three visits away.
Kelly: That’s pretty clever how Christy says that. I think that’s a great example of, of ways that we can, um, get the patients excited about the future and how close they are to actually getting to that point. So we’ll keep going.
Christy: What that entails is your next visit would be for your smile designer, what we call your smile design, you come in and we get impressions to make for your temporary arches. And then we make a surgical guide as well.
And the treatment planning, that goes around all of that. So that would be your next visit.
And then your second visit would app would be your surgery. When you come in and you have your surgery and the [inaudible] placed, and you would have teeth that day. Your temporary you would leave with.
Bobby: Would these come out? All of these come out?
Bobby: Would that be the same day?
Christy: Yes. That would all be the same day, and then your temporaries would be placed. Your temporaries will stay on for three to four months. You’ll return for your third visit to have the final zirconia bridge placed.
Now some people do stay in their temporaries longer than that, so that is an option. And then they’ll do the final bridge at some other point. So there are definitely options with that. Also, this option comes with a 10 year warranty as well, the other one does not. So again, now this is not gonna be your cost.
Christy: So I don’t want you to get sticker shocked here right now. This is what it costs for the entire procedure. Anywhere from 52 to 56,000, plus you have to have another 16 for the final zirconia bridge. So this price includes just the temporaries.
Bobby: Just the temporaries, Okay.
Christy: But like I said, a lot of people do stay in the temporaries for quite some time before they convert over to the final zirconia. It’s made of great material. I[?] have some patients that will just have the temporaries replaced if needed until they, they’re able to get to their final.
But that won’t change. And this bundle is all inclusive, so it includes everything. You will not get a new bill for something that you’re, you know, everything’s included. So like today’s exam and CT scanned, your next visit would be the diagnostic case planning, and your surgical guide.
And then the visit after that will be your extractions and your surgery. That includes your implants, the abutments that go on top of your implant, your IV sedation, your temporaries in your night guard that will be in there as well. So all of that is included.
Now because we are able to do this in a few visits, and we are able to save our cost, and our overhead with the way he’s able to do this. Plus the lab that we partnered with this, with partners with us, helps us safe as well. So we are able to bring that down to 32.
Christy: Mm-hmm. For the entire procedure. Now that does not include the final zirconia. So for all of it altogether went to have the final, it would be 48.
Christy: So with final 48,000. So that’s all inclusive and no other surprises. A There’s several different ways that you can do this. Like I said, you can stay in the temporaries for a little while until you can do the additional 16.
Some people will do the upper first and the lower, second, but you know, breaking it.
Kelly: I’m gonna take a pause just sort of for a second, but this is also a great example where throughout it, and again, unfortunately we didn’t see the beginning a little further in, but the patient never really gives an exact amount.
Christy asked a couple times throughout, what price bracket are you trying to stay in? Where do you want your monthly payments? And the patient never really gave her an answer. So I think sometimes that could almost hinder you sometimes because you’re waiting for that information, right?
Christy does a great job of assuming the sale and assuming that she can make this happen for the patient. I think we use our intuition, right? We try to get an idea of where this patient is and what he can afford or what’s gonna make this happen.
$48,000 was the total amount that she presented, but as she kind of starts beginning to talk now they, they talk about focusing on the 32,000, right?
Getting him set up with the temporaries and the acrylic, and at least getting him halfway to where he wants to be, Again, earlier on he talked so much about how much he’s wanted this for so long. And you can tell by Christy’s passion and enthusiasm through this, and at times she’s out of breath because she’s really trying to make this happen. So we’ll keep going.
Danny: Let me add a few points.
Kelly: Yeah, of course.
Danny: Hey guys, Jarrett[?] here. So I wanted to add a couple points on this. Some things that I really, really like about this is how she went in, and immediately emphasized with the zirconia coming with a 10 year warranty. I see a lot of phase treatment going on right now. And we highly recommend phase treatment, as we call it, productization.
So having different ways to help the patient say yes, but also differentiating. It didn’t make it sound like that phase solution was a lesser option. It just, in order to build that urgency for the final prosthetic, that’s where the warranty kicks in.
We’re not gonna warranty a temporary prosthetic, or we’re gonna have a very limited warranty with that. To Kelly’s point, one thing that I would say where, although it seems to be going in a good direction, pinpointing as you mentioned, kind of a price that they are within, it seems like we are still going back and forth a little bit on numbers and kind of what I call tap dancing a little bit.
And the more we can sooner determine what that patient’s budget is, the quicker we can pin them down to a budget range, the easier it is going to be to close somebody. Otherwise, it can be open-ended. We’ve all been in sales , or we’ve all been in opportunities where we’re in a negotiation, or we’re talking and everything’s going well. There’s really no objection, and then all of a sudden they’re like, oh, I need to think about it.
If we can get them to agree on a budget that they want to stay within, you’re gonna see your closing ratios dramatically increased. It’s gonna leave less variables, but love the tenure warranty element and keep that in mind when you’re looking at phased options.
Like, sometimes that’s all the budget they have. We want to get them started. We’ll get them into the pipeline, then we’ll move them to the final prosthetic down the road. There’s nothing wrong with that, but differentiating that, I think she did a great job here.
Kelly: Yeah. So we’ll kind of keep it going. And again, this is a great example of how she is, she thinks out of the box, she’s not given up options, she’s gonna keep going until she makes this happen. And It just gonna remind her that sometimes we’re gonna hit roadblocks, but just to keep thinking of other solutions to make it happen.
Christy: Get that way, but we can definitely look into doing something for you if any of this is feasible. Now, whenever you were doing your research and you came up with the $40,000 plus was that for the entire-
Kelly: And I’ll mention too, this gentleman again, I think I mentioned, he’s been wanting this procedure for what seems like a lifetime.
So he’s been to multiple consultations over the years. I think once or twice a year he’s gone to talk to someone, different practices in regards to having this procedure done. So he’s had different proposals given to him, and it’s always come down to price before.
Christy: procedure, was that per arch.
Bobby: I believe it was for the entire with everything that they were pretty much what you guys were doing every time. But I believe it was a little bit more, just 40,000 after he said 40,000. I was like, Oh my god. But I believe it was a little bit more than what you guys had and everything and stuff. Yeah.
Christy: We’re always happy to be able to pass our savings on as much as we can to our patients.
Bobby: Most, most definitely. Most definitely.
Christy: So, have you been able to save money over the years to put towards this, or are you looking into financing?
Bobby: Financing. Can you tell me a bit about it?
Christy: We have a finance company that we go through that’s called Proceed finance. We can definitely run your information through that just to see if you qualify for anything. And it does create a soft hit on your credit, but it’s definitely something we can look into if you haven’t looked into anything previous.
Bobby: No, I actually haven’t in everything. Well I did go to the bank and was inquiring about possible loan because I kind of figured this situation, and everything and stuff. But with banks, you got to have all of this [crosstalk]
Christy: Yeah. All that extra stuff that you have to provide for them.
Bobby: Yeah I’m like, I’ve been with you guys for over 10, 15 years, and I’ve always paid my bills and you know. So I was denied.
Christy: Well, we can definitely look into the Proceed financing, if that’s something that you wanna look into. And so, would you need to finance the entire amount?
Kelly: I can’t hear you either, Kim. I can’t hear either.
Bobby: Yeah. Possible, the entire.
Christy: The entire?
Bobby: But I can always try to see if there’s something else, but yeah.
Kelly: Are you having trouble hearing the audio? I wasn’t sure if she was talking to us or not.
Danny: Let’s stop there for a second. So one of the things that, financing is a tricky thing. I think a lot of us understand how important financing is. 30 to 40% in most of the practices that we work with are going to need financing on the case.
I mean, that’s really what we’re seeing. Some offices slightly higher than that. Proceed Finance, we just got data across the country, loan approvals and fundings up 44% in the last 30 days. Okay, people are tapping into funding now more than ever. So one of the things that I do, you’ve got to make people comfortable with the financing piece.
I want all of you guys to notate this at that transition, one thing that I always say, you don’t want people to feel awkward, or there’s a lot of emotions that come with financing, not just full arts rehabilitation in and of itself carries a lot of emotions when somebody’s considering this, but when they’re gonna really tap into financing now, financing traditionally has kind of a negative connotation.
Oh my God, I don’t wanna take a loan out. Oh, I don’t want to go into debt. Oh, oh, oh. No. That’s how a lot of folks have been raised. And even though we have one of the most highest consumer debt countries in the world, it’s still kind of taboo, especially for some of our older patients.
So one thing that I always recommend, I encourage all of you to do this, if you’re gonna transition into payment options, one thing I say every time, I’ll tell you what a lot of our patients like to take advantage of. Everybody wants to be part of this herd mentality, people want to know that others are doing this.
Don’t say, well, this is kind of a one off for people that can’t afford it. Because how you say it can can make someone feel that, oh, don’t worry if you can’t afford this. Well, we can get, now we’re triggering in their mind, we’re positioning financing as almost a negative saying that they can’t afford it. The reality is, is they can’t afford it.
Kelly: Yeah. And thankfully, there are options for those that don’t have the cash.
Danny: There are 100% options. So one thing I always say, a little tidbit here for everybody. I’ll tell you what a lot of our patients do to make this super easy. It doesn’t even hit your credit.
Don’t even say, well, we have to allow a soft credit. A lot of people don’t know what that means. It doesn’t even hit your credit. We can take a quick look at this, and see what’s possible for you. A lot of our patients do this, and we can get them into an easy monthly payment that gives them the flexibility they need to get everything they need now.
They don’t have to piecemeal it and it makes it really affordable. But I always use that herd mentality. A lot of our patients take advantage of this. I’ll tell you what most of our patients do, a lot of our patients do this. Say things like that, you’re going to get them more comfortable in taking that next step, which is we need to take an application now.
Now, before that, one of the things Kelly said before, we still haven’t really got a solid budget, just yet. Before we go into financing, we’re gonna see here in a minute what happens, but before we run an application, I never, the last thing I want to do, I can tell you guys the most daunting thing for me. Those of you who have done reporting with me, I’ll run reports with Proceed and I’ll see how many applications have been approved, loans available, and not funded.
The number one culprit to that is not identifying what budget they’re comfortable with before running an application. So ideally, I want to get that budget up front as far as where their head’s at when I start the conversation. But if I haven’t been able, in this case, we weren’t able to pull it out just yet, before I run to financing, I definitely want to pin them down on what type of monthly payment could work for them.
So I have at least some frame of reference. I don’t want to get them what they said they would move forward with, and then have them say, well, I got to think about it. Now I can build urgency. I got you what you said you needed. Let’s move forward with treatment.
Kelly: All right, so throughout Christy uses a great example of tactical empathy, which we talk a lot about.
She is definitely kind of pushing him forward and leading the consultation, but yet at the same time, she definitely is showing empathy, and sharing his passion for wanting this procedure done. So it’s kind of a really good mixture.
Christy: Okay, well let’s take a look at this and see. So are you wanting to look at the $32,000 or the total for the 48?
Kelley: So this is a great example too. So since she hasn’t been able to get an exact budget from him, or an amount, she’s given him two figures, the $48,000 for the full treatment zirconia, and then she’s also given him the amount for the temporaries, and giving him the option of staying in those for a while.
And even mention that many of our other patients have done this, they can split things up over time to make it easier. So she’s using the intuition, and saying, okay, well if we haven’t gotten a budget, I’ll frame it this way, and asking, would you wanna do the 32 and try to finance, or the 48? So, great job, Christy.
Bobby: $32,000. Within the, probably the amount of time that I would be in the first [inaudible] that I would be in the other ones. Not the main ones.
Christy: The temporaries?
Bobby: The temporaries. More than likely I probably could come up with the 16.
Kelly: So he’s finally beginning to talk and give her some information. And I think sometimes too, when we’re silent, they have an opportunity to talk. So instead of keep going, and kind of keep talking, because he is not answering the questions, she’s silent, which allows him to just start giving her the information that she needs.
Bobby: Within the amount of time, within [inaudible]
Christy: Within a year or two?
Christy: That would be perfect. All right. Bobby, what is your phone number?
Kelly: I can fast forward through his information. So she kind of just goes through and asks questions, and getting him pre-approved.
Danny: Let me add a point here. When running an application, one thing that I always do, I run applications for doctors that I work with all the time. And one thing that I always do, ask the easiest questions on the application first, okay?
I go through everything. Name, address, approximate household income. Give me an idea of what your household income is. Do you have a mortgage payment? When I’m running through a Proceed application, I’m going through all of that first. Remember as well, proceed will look at all household income, okay?
Do you have a spouse that works? And the reason they do that, so you guys know, is because typically a mortgage will report on the husband and the wife’s credit profile, so they don’t want it to count twice. So if there’s any additional income, any investment income, I’m gonna pull all that in. The last thing I ask, the last question is, what is your social security number?
And you have to be very light about it. You don’t want to make it invasive feeling. You want to make an application process really light and easy. I think she did a nice job with it, but I always ask the social security number last if I get any objection at that point, don’t worry, it’s just a soft credit hit.
We’re not gonna do a full hit until we’re ready to move forward. If at that point you get any objections. So always ask for the social security number last. It’s about midway in the application. I go through everything else and then I ask that last.
Christy: turn this around and see. Congratulations, you have pre-qualified for a lending point loan for up to $25,000.
Bobby: Up to $25,000.
Christy: Mm-hmm. . So, um-
Kelly: So again, remember %48,000 and $32,000 are the numbers that they’re trying to work for here. These are the goals.
Christy: There are some options here that I think we can do. We we can obviously utilize this if it moving forward for the 25-
Kelly: And she still doesn’t know if he has any money to work with. And that’s kind of the hindrance in this where Christy is kind of overcoming some obstacles there, but she continues to try to come up with solutions.
Christy: Thousand and the remaining, if you’re able to pay the remaining, or we can look into something. I can go talk to my manager and see if we can do something for in-house financing as well.
Bobby: Okay. Definitely interesting.
Kelly: And so this kind of goes on for a few minutes where they’re trying to look at, and decide on the loan term that is being offered. And even at one point he asked Christy, what do you suggest? What should I choose? Because I think great job too on trying to get him to decide on one product
and kind of as an avenue to get where they’re trying to go.
But at the same time, we still have obstacles to overcome, coming up with the difference, but one thing here, again, trying to decide on loan term, he even asked her, well, what should I go with? The 60 month or the 30 months? If there’s no prepayment penalty, I mean, obviously I would recommend going with the lowest payment amount possible.
You can always pay more towards the interest as long as there’s not a prepayment penalty. But Christy, that was the only thing I might recommend that you would have maybe answered. He was again, trying to kind of get over that. But overall, I mean, again, good job on that.
Danny: May add a little something here?
Danny: Because finance, this comes up a lot, guys. You’ve done a phenomenal job getting to this point, Christy, and you’ve worked with him,
you’re spending a lot of time with him. Now, we’re kind of on the final stretch to get it done. And I’ve seen scenarios where this goes really well, I’ve seen scenarios where this can fall apart. Where we literally had a patient that had the bulk of the money up front, and the case didn’t moved forward for whatever reason.
Once again, going back to right before we ran the application, we asked 32 or 48. I would go further with that to say, and you know, what type of monthly payment do you think? We have different ways to break this out? Do you have an idea of what monthly payment, how long you’d like to break that out?
Try and get an idea because they have something in their mind. I was like, well if I could pay 500 a month or 300 a month, or five to 600 a month, they have something in their mind, or at least something to use as a baseline. So always try and get that again, not just the big number. And when I run an application, I’m gonna try and get the big number approved.
So even when I’m running that app, I’m gonna look at $48,000, because if I can get the whole thing approved, is it better to get all the money now or phase it? I would much rather have all the income now to the business, and now I’ve got that patient committed to the entire process and they’re gonna move forward with it.
I don’t know what I’m gonna get back on an application. Most of these applications, if they get disqualified for large amounts, we’re gonna be able to still see if they can get a lower amount, they’ll still present an offer. So even though that was good, we pinpointed it, I still would’ve gone for the higher dollar amount, but I would’ve rather pinpointed, once I’m going into financing is what monthly payment amount are you looking to stay within?
And I’m gonna work to maximize this for you.
Now when I’m going in to Kelly’s point, when I’m going into selecting one of those payment options, well now I can use that as a guide where to advise. But you also have to be careful about, I want really to write this down, interest rate sensitivity.
Interest rates can burn a deal, especially if you don’t know how to handle questions or rebuttals around interest rates. We talk about this all the time, and a lot of my private consults that I do. And this is a big thing. And I see it when I run a report for a client, and they’ve got a hundred thousand dollars or a million dollars approved in loan funds from Proceed, but they’ve only closed a hundred thousand, and we got $900,000 sitting out there and they’re telling us, well, the patients don’t have money.
Well, I’ve got a million dollars sitting right there. $900,000 that we weren’t able to close on. So you have to be very strategic here, because you’ll get people approved and they’ll walk out the door. Your likelihood of closing them once they’ve walked out the door after approval, dropped dramatically.
The number one way to curtail that is to ask them ahead of time what type of payment they wanna stay within.
Now I can close to that payment. Okay, I can build value around that payment. The interest rate isn’t as important. Now, when I get something thrown back from Lending Point, what does that tell me? Less than perfect credit. He even mentioned earlier on that he’d been disqualified for things like this.
So for him to even get approved is like, he’s surprised. It’s like a hallelujah. He’s surprised he even got approved. And some of us have maybe been through that we’re, whoa, I got approved. And it’s a great feeling, so I’m gonna get, oh my goodness, we got you approved. Congratulations. I loved how she did that. Congratulations. We got you approved.
Now, if I had a dollar amount, I could pinpoint into that. So now I need to, before I go into selection of this, I try and keep the interest rate to the side. What type of payment do you wanna stay within? Now the natural move is gonna be to go to the lowest payment.
But the lowest payment, as we all know, is gonna give us the highest interest rate that can kill a deal. A high interest rate can kill a deal. They’re already starting off at Lending Point, so the interest rates are gonna be a little bit higher. Patient doesn’t have great credit. Okay, but we got him %25,000.
He’s like, whoa, this is great. Another thing that Kelly mentioned, we still didn’t ask before we started going into different options. A very simple question, if somebody only gets $25,000, well, how much did you plan to put that on? Most people when they buy a car, most people when they buy a home, expect to a bit put some type of down payment down.
He may have some credit cards he can pull a little bit from. He may have a little bit here and there that he can pull from. He may have a few thousand in savings. You don’t know his situation. He may have cash in his mattress. I’ve seen some of these old folks, I’ve seen patients on Medicaid guys come in with bags with $50,000 in cash that they had in their mattress.
Okay. So I never prejudge someone’s ability to put cash down. Before I start, I would rather them put a down payment down than have like three different loans going. Care credit, lending Club or Lending Point over here, and then an in-house loan. I’d rather see if they can put something down, I would go through that option first. Okay.
Kelly: One thing I was gonna add too with what you mentioned, when we mentioned the $32,000 or the $48,000, leading the questions, right? Saying most of our patients will try to qualify for the higher amount, right?
And then we’ll see from that point what they do qualify for. So instead of asking necessarily, which they’d like to start with, you can lead those questions that way. And again, by framing those different ways, most patients do.
Danny: Yeah. And that’s something ultimately we don’t even really have to ask for. What I’d really try and see differently as well as this was done, and it’s a successful case, we were able to get something going here. But if I were to modify anything, I would ask what type of payment they wanna stay within. Hey, I’m gonna go to bat for you to see if we can get you in there.
I don’t care if it’s $40,000, $50,000, but ideally, what’s best for the business. What’s best for the business and the patient is if we can get the full committal. Now we don’t have to go back and resell the other 16,000. It’s always best to get the whole thing paid up front. We call that full pay. If we can get them up front, it’s always better for the patient and the practice.
Christy: There’s the details there for your principal at 22 378 [crosstalk] percentage, his interest rate there at 36 months, and then you’re 48 is 747, and you are 16 months would be 650 at 1829 percent.
Kelly: [crosstalk] This takes a minute because he, again,
Bobby: Oh okay. So it comes down to a choice?
Christy: Yes. It comes down to a choice now. Investing in your [crosstalk] In your new life, right?
Bobby: [crosstalk] Yes, definitely. Yes, definitely. Definitely, definitely. Okay. We’re gonna go with, let’s try the 60.
Bobby: [inaudible] One more time. At 36 months at three years, 820.
Kelly: who really struggles here?
Bobby: What would you do? It’s kind of overwhelming.
Christy: I know. It is very overwhelming. But just thank your three visits.
Bobby: I’m looking at everything. Three visits away. And that is awesome.
That would be just awesome. It’s like a pay off in let’s say three years. Three visits. Let’s try.
Christy: And let me take a moment here, and go speak with my office manager too, and just see what your options are for the remaining as well.
Bobby: Okay. Okay.
Danny: So once again, if I knew what he wanted to stay within, he asked for advice. Shoot was a little reluctant to give it right out of the gate. We’re giving them a little bit of time to marinate. There are a few sequents things that we could have changed up here a little bit that I think could have closed it faster. He wants it. What I really love is she keeps going back to visualizing, in three visits, in three visits. That’s become one of her anchors.
In three visits. In three visits, in three visits. Like he’s mentally there. Now it’s just a question of where’s he gonna end up budget wise. And once again, now she’s going to see what else they can do for the remaining balance, and how they can get creative. If we knew an overall budget, It’s gonna be easier to guide in the situation.
Kelly: Yeah. And that’s where I commend her though, for continuously, even without that information, she keeps going.
Danny: Oh, absolutely.
Kelly: And it’s interesting, those of you that have visual Christy like kind of pauses that it cuts out for a second and she comes back like out of a storage closet. Christy, where did you go? Are you still there with us?
Christy: I am. I actually walked out to talk to my manager just to give him space and time to think without me, feeling like I was pressuring in any way. So I just wanted to kind of feel comfortable. He was taking a while trying to figure out really what he was comfortable with doing within the payment plan at that time.
I just felt like he needed a little bit of space, so that’s when I kind of decided I’m just gonna step out of room, and give him time to think about it while I’m out looking at these other options. So it doesn’t go even than it already has. I have that in my back pocket. Kind of look forward to if we have those options available.
Danny: It’s a great tool. It’s an advanced tool to walk out like that and kind of let them marinate, and let them get comfortable. But I think that was a really nice move on your part.
Kelly: Yeah. Okay, we’ll keep going.
Bobby: And the remaining would be, let’s see the whole total of this, 48,025.
Christy: So I, yeah, I put in for 32. You got approved for 25. But we can do the remaining for the 48.
Christy: And that would put you at 23,000 for everything.
Bobby: For everything.
Christy: Yes. So let me go. [crosstalk] Yes. It is.
Bobby: [crosstalk]Definitely an investment. Definitely. Nothing that I definitely want. 16 for the file[?].
Kelly: So this is where she reemerges. I love that she takes the camera with her for us.
Christy: I honestly forgot that I still had the camera on that time.
Christy: Alright. I’m sorry about that Mr. Porter. Okay. So we have a couple of things that we can try for you. We can definitely look into what’s called Care Credit as well. I don’t know if you’ve ever heard about them. So what I’m gonna have you do is we’re gonna go through carecredit.com, and just try to see if you can get approved for anything extra there.
Kelly: One thing I was gonna add here, she doesn’t ask him, do you want to try to get approved with Care Credit? She leads him to getting this next approval. Good job.
Christy: And the last option we would have would be to try to do some type of in-house financing, but there’s a cap on that that we can do. So let’s move forward with trying the care credit and see what we can do from there.
Christy: Okay. Let’s see here. And also, you know, if you have anything saved that can go towards it, that’s definitely something that we could talk about as well. All right. I’m going to move this over here because this is gonna ask you information.
Kelly: For his approval. One other thing I was gonna mention that I taught, when I talked to quite a few of the treatment coordinators all the time. When you’re working with the financing often, in order to finalize the loan amount, an email goes to the patient.
Oftentimes the treatment coordinators, you’re letting them leave without finalizing that last piece of like having them pull up that email on their phone, or iPad, or whatever they may have, and having them kind of complete that process.
But she does that in here, and I think that can make a world of difference too. That’s one way to get them more secure with the close, and finalize. Versus that piece not being done and you letting them leave. I think from talking with many of the practices that it has a higher mortality rate in a sense of the case is not closing, when they’re not finalized there in the office.
Bobby: Click there to the right[?]
Christy: Technology today. Huh?
Bobby: I know, I know.
Christy: I know. And we’re in a really weird area here in the hospital.
Booby: It’s loading now. Yeah. Here, because I was trying to check on my card, my deal inside.
Christy: So do we wanna do for the remaining 7,000 for the 32, or do you want try for the remaining 23? I would suggest probably getting started as trying for the seven, and just kind of moving from there.
Bobby: Yeah. Uh-huh I was thinking that too.
Kelly: I kind of think at that point, whatever she would’ve suggested, he would’ve gone with. And I think that can happen a lot of times too in these application.
Christy: Okay. And then what is your phone number?
Rebecca: I have a question.
Danny: What’s the question?
Rebecca: Okay, so there’s a question. Are we able to use two different financing programs for the same treatment? I was told that was not allowed. Maybe it’s a state of regulation. I’m in New York.
Danny: Yeah, so when it comes to that, it’s usually more of a lender’s rules. And really what they’re trying to prevent is someone taking out a bunch of loans at once.
In some states are a little bit stricter on that. I would check in New York. I’ve had plenty of clients in New York do that without any problem. But it may be a state regulation in New York. None that have been brought to my attention.
I think the one thing you just always have to be careful with at any time when you’re doing loans with older patients, and things of that nature is just fully make sure that they un understand and are aware of everything.
But from my experience, my original backgrounds in lending, I have not heard of that scenario. I could definitely talk with our partners at Proceed Finance and find out more if there’s any specific laws that would prohibit that. But we have not run into that yet.
I think at the end of the day, from a lender’s perspective, the one that would have the biggest risk would be like, let’s say a proceed finance, or lending point who’s offering that 25,000, and then now they’re getting five other loans, it could throw off their calculated debt to income ratio.
So there could be some heightened risk for them. So that is something we can dig a little bit deeper on. We’ve not had an issue with it yet. It’s very common for people to use care credit, like a credit card, another credit card, tap into this over here, borrow against the house, get something over here.
It’s very common. We’ve yet to hear any issues.
Kelly: It’s more additional financing, and that’s kind of what Christy was offering was like the care credit where it’s gonna be smaller amounts. It’s not the other, another 25,000.
Danny: Exactly. Great question. Well, we’ll find out more on that.
Christy: 1000, yeah. 11. So..
Kelly: We’ve got 1,100 through care credit.
Christy: So that would be a remaining, 5,900. 900. And then the most we could do in-house would be, 2000. So that would be about another 160 a month.
Christy: So 5,900 away [crosstalk] from your new life. So like we would need to get you put on the schedule to get your next part of the phase started. And we can definitely get that started with the 25 for sure. And then we can include the, the 1100 from Care Credit.
And then the remaining 5,900 would be due on the day of your procedure, but we can get through the first two phases, and you can come back in on the day of your procedure. However far out we need to put that part. But at least we can get you on the schedule and get it started.
Bobby: [crosstalk] So close. Okay.
I can kind of see my other options out there also, and try to see what I can do.
Christy: In the meantime? Yeah, absolutely. And your bank may go ahead and approve you for the full 5,900 at that point.
Bobby: Yeah, that would be awesome. if bank of America, I’ve been with them for ages. I don’t quite understand, but..
Christy: So I’m not proceeding with this part yet. Until unless that’s something you’re wanting to do is to go forward with that 25,000 with lending point.
Christy: You do? Okay. So there are some steps involved with that. It’s gonna be sent to your email, and then in that email, there will be some steps you have to take in order for all of that to go through.
So it’s not completely approved until you go through the next step. So an email will be sent to you with a link to complete an application with our partner lending point. Are you able to do that from there?
Bobby: Yes. Uh-huh?
Christy: After the borrower completes the application and signs the loan documents, you will receive an email, and approve the funding of the loan by clicking the link in the email, and approve the loan in the platform. So..
Bobby: I’m just checking to see if they sent it. Oh, here it is. Right here. Okay.
Christy: That’s your Care Credit one here. Obviously you’ll have to create a account. I don’t even carry checks-
Danny: The one thing here, while we’re getting to the end of this, this is just guiding the patient. I’ve seen offices send the patient home, look at the paperwork. She’s done a really nice job just guiding the patient through the process. Do not let the patient leave.
This guy’s ready to go. But I could tell you right now, he still has $5,900 out there. We’ve resolved $2000 of that. So $3,900 can keep this case from moving forward. Just remember that $3,900 can keep this case from moving forward. You make one mistake on something like this, let him go home to complete the application.
Let him do this. You always want to guide them and I think she did a phenomenal job, job keeping them on the hook, guiding them through the end, no matter how long it takes. She spent a lot of time with him. But she knows she’s got a serious patient that wants to move forward. We’ve got money on the table, we’ve got real money on the table.
I’ve seen offices where they’ve got 25 and they’ll let it walk out the door. You know, she got creative. She figured out what she needed to do to draw it through, and let’s go to the end.
Kelly: Yeah. And I’ve had many patients or practices ask me like, what if they don’t have a phone? Or what if they’re not able to access their email from their phone?
And I went to a doctor visit recently and at the primary care, and you had to get your phone out to register, like right there in their office if you hadn’t done it before you got there. So it’s just standard these days to have to do so much online. So these people, most of the time, I would say 95% of the time, they’re gonna have a phone.
Danny: Have an iPad, have a computer as a backup. Something big, easy for them to use. Do not lose a deal over that.
If they need to be able to log into their email securely, have something where they can do that. If they need time, if they need privacy, the last thing we want them to do is go home when they’re committed to the process like this, and we’ve got them roofer funding.
Rebecca: Many times they won’t even look at the email when they get home.
Christy: I can’t imagine. And I’m so so sorry that you lost.
Kelly: Well, he’s just signing the final document.
Christy: Is this not the most exciting. I’m so happy for you.
Bobby: You just don’t know. A burden is lifting.
Bobby: It’s definitely lifting. It’s just how many years that I have went through this.
Christy: Yeah. I can’t imagine. And I’m so, so, so sorry that you’ve lost a lot of your life because of this. But you know what, you’re about to get that back.
Bobby: I’m praying. I am definitely praying.
Christy: All right. Oh my goodness. I think you’re done. I just have to do the rest on my end here and we can get you scheduled. I’m gonna take you up to the front and we’re gonna get the care credit applied.
And then once we get the care credit applied, we can get you scheduled before that anyway. I’m gonna have you sign this treatment plan that we went over together today. This is just again, recapping that it’s the 32 without the final when you decided to do the final zirconia, it’s the total of 48.
So the additional $16,000 for the total of 48. Okay. But right now what you’re going with is the temporaries until you’re able to come up with that. Okay, and you’ll have a remaining 5,900 on the day of the procedure, and then you can just let us know.
Bobby: Dated [inaudible]
Christy: Yeah, I dated it. That’s why. There you go. All right, Mr. Porter, I am so, so grateful that we were able to help with you today.
Bobby: You just don’t know how happy I am.
Christy: And I’m glad you got to meet Dr. Gliden.
Bobby: Yes. I love him. I just [inaudible] his is great on that.
Christy: It really is.
Kelly: All right.
Danny: Phenomenal. Great job, guys.
Kelly: Yeah. Good job, Christy.
Danny: We love this. And seeing this happen here. The biggest takeaway for me, great closed. You got to look at this, and it wasn’t an easy case. I’ve seen a lot of offices, they’ll let this deal walk out the door. They’ll let this deal walk out the door because if, oh, he’s got 25,000, we can’t do it.
Okay? But we got creative. We guided them through the process. She really used that whole tactical empathy element. She, she hooked onto that. And how much he had been suffering, and she’s in such empathetic rapport here with them where she really wants this to happen for him, and she truly believes this is gonna change his life.
And he feels that, and that’s why it’s like the money, he’s gonna figure that piece out. But you heard him say, I love Dr. Glidem. You want him saying that. They got to love you, they got to love the practice, they got to love the service if they’re gonna move forward with treatment. You got to get them loving on you.
And that comes to showing that you care. That comes to showing them that you care, she was patient with him, she didn’t rush him. Phenomenal on all levels.
Kelly: And even stepped out for a minute [crosstalk]
Danny: [crosstalk] stepped out, gave him some breathing room. My only critique on this that I think we can all learn from. Okay, couple takeaways from my end. Whenever you’re dealing with a lot of different money, and money’s gonna come up a lot, that’s one of the biggest objections that anyone’s gonna have. Okay.
I’ve seen this same case go sideways, and outside of all the positive things that were done. And I think she just had such a strong connection with him that she was gonna overcome anything that was thrown back at her because he felt comfortable with her and the doctor.
Get the budget up front. Ask them if you know money’s an issue, we talk about this all the time in the 10, 10, 10. Ask them where they want to be. It’s really that simple guys. It’s not a tough question, and sometimes you got to prompt them. Do you wanna be around five, $600, $1000 a month?
What could you afford a month? We’re looking at $48,000 all in, it’s about a $65,000 treatment plan. We’ve got it down to $48,000 all in. If money’s an issue, we have different ways to customize this and phase this, but if money’s an issue and it’s a halt, well, where do you think you want to be on a monthly basis? Because we’re gonna work with you.
We’re gonna figure out a way to make this happen. You need to really try and get them to give you a number. If they tell you 50 bucks, well we’re gonna have some challenges. But a lot of them, if they see a $65,000 treatment that you’ve now been able to get it down to 48, And you have ways to phase it and get creative. They’ll tell you, a thousand a month.
He had a number in his head. He had a number in his head where he was thinking, if I can stay within this range, I can make it work. He had the numberm we just didn’t get it. That was the one thing that I would say we want to try and identify ultimately as we get going here.
Get the number with the financing, financing is going to become more necessary as time goes on, is as you treat more patients. You got to make the financing so easy where it’s like, Hey, this is what a lot of our patients do,
most of our patients do this. It’s the easiest way.
You got to already understand that most of your market does not have a lot of money. Three quarters of population is paycheck to paycheck. Most people are looking for that payment plan. And that’s why guys, there’s 60 million patients who need this. There’s 150 to 180,000 fixed arches done a year.
What’s happening to the other 58? One 58 million, 150,000 and growing? They’re not getting it done. And that’s because their treatment coordinators are not becoming masters at talking about the elephant in the room, which is the money. So be upfront about it. Hey, you know, I’m here to help you. Why? What got you to this point? That tactile empathy did a phenomenal job with it.
But he had a number, and that would be my only caution is if we don’t have that number, what if he doesn’t go and get that? What if he can’t get that $3,900? What if he can’t get that other $3,900? I’d hate to lose that case, or have a refund to the lender. He’s submitting for a refund to the lender.
Now, I never want to hope for that, but the more I can get up front, the better. And the one thing that I would like to see more of in a case like this is understanding. Ask him up front, well, did you have any money that you were gonna able be able to put down? Up front.
If we’re talking budget, we only get them approved for $25,000. Before I go to Care Credit, I’m gonna ask them, do you have anything that you, that you’d be able to put down? Do you have any that you’d be able to put on a credit card? I’m gonna exhaust those first before I look at bringing in another lender, before I look at in-house financing.
So a couple small technical updates here, but overall, phenomenal job. Give her a round of applause. That’s a great close. One of many. Like I said, guys, record month this last month. Loan funding’s just from our clients alone, up 44%. Okay? Loan volume, treatments accepted, cases done last month up over 44%.
So they’re talking all this stuff about recessions and all this stuff. I don’t know, I think our patients still want care and want to get things done. And one thing I’ll tell you guys, I talk on it a lot. These times create, there’s still tens of millions of patients that want this, and they’re willing to invest in their health now more than ever.
So keep up the great work you guys. Thank you, Kelly, thank you Rebecca, thank you everybody who joined in today. Keep submitting these calls, they did a phenomenal job critiquing this, and for those of you that don’t know, I mean, they do a full analysis of these calls, and they do a great job at it.
So if you guys aren’t submitting recordings, they’ll do an analysis for you, you need to get on the line, you want to go through it, you want some insights from myself, from anyone here at the team, do as many of these as possible. One of our top dogs out in Oregon, he says, what do we need to do to be successful?
I said, you need to do at least two of these a month. He goes, I don’t wanna do the minimum. I said, well do one every week. Okay. His number shot up last month. You guys do this stuff as much as you can get into the habit of it, because even on that case, it was a phenomenal case. Case closed. There’s always little tweaks. There’s always little slide adjustments that now all of a sudden your numbers will start perpetuating.
Kelly: There’s always room for growth.
Danny: There’s always room for growth. I got a call today from a lady who said, I got to call out later today, lady said, well, we don’t need any help training, or we don’t need any help with closing.
I said, I need help with closing. Bart needs help with closing. Kelly needs help with closing. You guys, younever stop learning. Just like our doctors never stop with CE, you never stop learning. So I commend everybody for getting on today. Hopefully you learned a few little tweaks to keep doing it and keep submitting.
We wanna see your recordings, guys. And I like showing the closed cases. We only show the non closed one when we close it and then the doctor comes in and messes it up. So, hey thanks everybody.
Kelly: Thank you.
Danny: Have a great day.
Kelly: Have a good day.
Kelly: Thanks, Christy.