College & Education: RE: [ACEsthetics] Inhouse financing

I’ve won because the judge is my patient. J When it gets to small claims they generally cave in but some it takes garnishing their wages and that is a pain for the employer but it should be done.

Guy W. Moorman, Jr., D.D.S.

The Swamp

Douglas, GA 31533

912-384-7400

This email message and any attached files are confidential and are intended solely for the use of the addressee(s) named above. This communication may contain material protected by patient rights, work product, or other privileges. If you are not an intended recipient, you have received this communication in error and any review, use, dissemination, forwarding, printing, copying, or other distribution of this email message and any attached files is strictly prohibited. If you have received the confidential message in error, please notify the sender immediately by reply email message and permanently delete the original message.

From: acesthetics@googlegroups.com [mailto:acesthetics@googlegroups.com] On Behalf Of Ashley Goodman
Sent: Wednesday, May 22, 2013 10:08 AM
To: safariandmd@aim.com
Cc: gmoor@windstream.net; tmjcenter@aol.com; agarcia@pearlywhitesdental.com; ACEsthetics@googlegroups.com
Subject: Re: [ACEsthetics] Inhouse financing

For those of you who use SC Court; when you first get up to testify you need to say,"As my testimony today relates to the art and science of dentistry, I'd like that testimony to be accepted as an expert in the field by this court."

Unless the adverse side has brought their expert... you've won right there.

-------

Ash

------------------------------------

Ashley Goodman, DDS

8736 Lake Murray Blvd.#108

San Diego, Ca 92119

Phone:  619-697-6677

Fax:  619-697-6632

Email: agoodman@agoodmandds.com

Web:  www.agoodmandds.com

------------------------------------

On 5/22/2013 1:50 AM, safariandmd@aim.com wrote:

Guy listening to you, Mac and Rick talk about dentistry brings perspective for us younger dentists. Being in business now for 7 years (dentist 12) has taught me many things about people. I still act as a bank for some patients but have learned to be one for a select few. I have not been burned in a couple of years.

I know dentists who have taken patients to small claims. I have not done that yet but I sure have thought about it on a couple of patients.

Shahin Safarian DMD, MBA, LVIF | Irresistible Smiles
Carmel Valley/Del Mar 858.755.8993 | Chula Vista/Eastlake 619.656.6785
WEBSITE | FACEBOOK | LINKEDIN | YOUTUBE | THEBATTLEGUARD

-----Original Message-----
From: Guy Moorman <gmoor@windstream.net>
To: safariandmd <safariandmd@aim.com>; tmjcenter <tmjcenter@aol.com>
Cc: agarcia <agarcia@pearlywhitesdental.com>; ACEsthetics <ACEsthetics@googlegroups.com>
Sent: Fri, May 17, 2013 11:52 PM
Subject: RE: [ACEsthetics] Inhouse financing
Shahin, many years ago I was working on a cash basis only. This was before dental insurance and yes I’m that old as are a couple of other old codgers on here. I read an article in a throw away dental economics magazine stating that if you were collecting 100% then you were losing 30% of possible net. This was also before CareCredit, Springstone, Wells Fargo, etc.. Well the basic premise of the article was that the vast majority of people would pay you given the time. I decided to finance some of the bigger items like six anterior units or three unit bridges and endo. Damned if my net did not jump 35% and I had a 98+% collection rate.

But times have changed. Back then people DID want to pay you. It was a matter of pride. The world has changed dramatically. And these are good people who are not worrying about paying you. The old truism that docs get paid last holds strongly true. I look at my daughter…honest as her mother…but who owns two houses because she refused to listen to Dad and rent on the second move. They are going to rent one and give the other to the bank. I’d have died before I’d have allowed that to happen to me. We have a dentist here who is a bishop in the church but did not pay the IRS 280k in withholding taxes over the past 15 years. Oh, he took it out of their checks. He just didn’t pay it and I see him every week at Rotary with a smile on his face and he’s big in organized dentistry. He still has not paid them. He needs to go to jail. It is a different world. Oh, he is on a COD basis with his lab and all dental supply companies. The world has changed.

Guy W. Moorman, Jr., D.D.S.
The Swamp
Douglas, GA 31533
912-384-7400

This email message and any attached files are confidential and are intended solely for the use of the addressee(s) named above. This communication may contain material protected by patient rights, work product, or other privileges. If you are not an intended recipient, you have received this communication in error and any review, use, dissemination, forwarding, printing, copying, or other distribution of this email message and any attached files is strictly prohibited. If you have received the confidential message in error, please notify the sender immediately by reply email message and permanently delete the original message.

From: acesthetics@googlegroups.com [mailto:acesthetics@googlegroups.com] On Behalf Of safariandmd@aim.com
Sent: Friday, May 17, 2013 9:11 AM
To: tmjcenter@aol.com
Cc: agarcia@pearlywhitesdental.com; ACEsthetics@googlegroups.com
Subject: Re: [ACEsthetics] Inhouse financing

The case you have presented below Is a very rare and not sure you know the entire story. Overall I think it is a mistake to think you want to be a bank because in the long run I don't believe it is good practice.

Now having said that I am sure we have all don't in-house financing before. For me I would say I take that approach about 5-6 times a year and the rest I use the other methods or refuse treatment.

Shahin Safarian DMD, MBA, LVIF | Irresistible Smiles
Carmel Valley/Del Mar 858.755.8993 | Chula Vista/Eastlake 619.656.6785
WEBSITE | FACEBOOK | LINKEDIN | YOUTUBE | THEBATTLEGUARD

-----Original Message-----
From: John Nosti <tmjcenter@aol.com>
To: safariandmd <safariandmd@aim.com>
Cc: agarcia <agarcia@pearlywhitesdental.com>; ACEsthetics <ACEsthetics@googlegroups.com>
Sent: Thu, May 16, 2013 08:42 PM
Subject: Re: [ACEsthetics] Inhouse financing
Shahin,

Sorry- part of me was being sarcastic with the fees some companies charge us to finance cases.
In all reality, the difference between collecting the interest vs paying finance companies will be around 3k (or more depending what interest you charge and the fee you pay)on a 22k case.
When you are keeping 3k per 22k case, if the 8th person you finance defaults, the other 7 have paid for it. It would be the same as if all 8 paid upfront and the full fee.
An even better place to use it is on patients who owe money prior to putting them into collections.

John
Sent from my iPhone

On May 17, 2013, at 12:18 AM, safariandmd@aim.com wrote:
John you make $5K in interest on a $7K loan? what APR are you charging?

Shahin Safarian DMD, MBA, LVIF | Irresistible Smiles
Carmel Valley/Del Mar 858.755.8993 | Chula Vista/Eastlake 619.656.6785
WEBSITE | FACEBOOK | LINKEDIN | YOUTUBE | THEBATTLEGUARD

-----Original Message-----
From: tmjcenter@aol.com
To: agarcia
Cc: ACEsthetics
Sent: Thu, May 16, 2013 5:01 pm
Subject: Re: [ACEsthetics] Inhouse financing
I personably have been looking for patients to do in house finance with.   I had a patient who makes 200k per year, no debt, 780 credit score, and didn't qualify for financing because he owns several properties.     He paid 15k down on a 22k treatment.   Now I am collecting the Interest.   I have a half dozen patients on in house financing with zero defaults.  My overhead is less than 40% so I know what up front payment I need and what I can gamble with.      On a 22k case I will make over 27k when the patient is done paying vs well under 22k when going through outside financing. Set up the right parameters and it is a no brainer.  John Sent from my iPhoneOn May 16, 2013, at 11:25 PM, "Arturo R. Garcia  D.M.D." <agarcia@pearlywhitesdental.co
m> wrote:> "And then in return did shit for small business."> > Absolutely agree!  And did shit for the economy as well.> > Arturo> > Arturo R. García D.M.D.> Austin Cosmetic Dentistry> 2700 Barton Creek Blvd.> Ste. 130> Austin, TX 78735> 512-382-5888> www.AustinCosmeticDentistry.com> > > On Thu, May 16, 2013 22:19, Walter Kostrzewski, DMD wrote:>> First off Bruce and CDF will be at our ACE Annual session in Vegas>> 10/3-5!!>> >> >> BE THERE!>> >> >> "Credit professionals">> That's funny>> >> >> >> You mean the ones that bankrupt all of the banks in NYC">> >> >> BUT got bailed out by our government!?>> >> >> And then in return did shit for small business.>> >> >> Those credit professionals?>>
 >> >> Their are plenty of people who are not "credit worthy" by our banking>> morons That happily pay for treatment on a reasonable payment plan in an>> acceptable time frame.>> >> Care credit etc.... Have a less than 30% acceptance rate. No matter what>> they like to market.>> >> And on their "creditworthy" people they take a hefty cut!!???>> >> >> So why outside finance the "credit worthy"???>> >> >> Walter Kostrzewski, DMD>> Sent from my iPhone>> >> >> On May 16, 2013, at 6:36 PM, John Highsmith <johnhighsmith@mac.com>>> wrote:>> >> >>> Wait a minute. Credit professionals are telling you that this person is>>> not credit worthy, so you want to fund them in-office? What am I missing>>> here?>>> >>> John Highsmith>>> >>>
; >>> >>> >>> >>> >>> On May 16, 2013, at 2:23 PM, bigdrtim@hotmail.com wrote:>>> >>> >>>> My understanding is to use it only when springstone or carecredit>>>> won't fund them.....>>>> >>>> >>>> >>>> ----- Reply message ----->>>> From: "Ken siegel" <kensiegel@onlymyemail.com>>>>> To: "tadmorgan@gmail.com" <tadmorgan@gmail.com>, "barnettpr21@aol.com">>>> <barnettpr21@aol.com>>>>> Cc: "ace" <acesthetics@googlegroups.com>>>>> Subject: [ACEsthetics] Inhouse financing>>>> Date: Thu, May 16, 2013 10:51 am>>>> >>>> >>>> >>>> I signed up for it and have been paying for it for a year and have>>>> still never used it.  I always wind up going through Carecredit or>>>> Springstone so I can get the $$ now.>>>> Kenneth Siegel, D.M.D.>>>> Dental Excellence of Blue Bell>>>> 706 Dekalb Pike>>>> Blue Bell, Pa 19422>>>> 610-272-0828>>>> 610-272-4319 fax>>>> 215-498-5991 mobile>>>> www.dentalexcellenceofbluebell.com Www.SleepPhilly.com>>>> >&g
t;>> >>>> From: Tad Morgan DDS <tadmorgan@gmail.com>>>>> Reply-To: "tadmorgan@gmail.com" <tadmorgan@gmail..com>>>>> Date: Thursday, May 16, 2013 1:17 PM>>>> To: "barnettpr21@aol.com" <barnettpr21@aol.com>>>>> Cc: gnr <ACEsthetics@googlegroups.com>>>>> Subject: Re: [ACEsthetics] Inhouse financing>>>> >>>> >>>> Comprehensive dental finance with PDA and Bruce Baird might be an>>>> option.   The website is comprehensivefinance.com.  I have been>>>> looking at it and it looks like something I might want to do.>>>> >>>> Tad>>>> >>>> >>>> >>>> On Thu, May 16, 2013 at 12:13 PM, barnettpr21 <barnettpr21@aol.com>>>>> wrote:>>>> >>>>> I remember a discussion about an entity that helped set up dental>>>>> practices for their own financing but can't find it.  Can someone>>>>> help direct me?  Anyone have any personal experience with it that>>>>> they can share en masse or privately? TIA.>>>>> >>>>> Peter Barnett DMD>>>>> Plano, TX>>>>> >>>>> >>>>> -->>>>> You received this message because y
ou are subscribed to the Google>>>>> Groups "ACEsthetics" group.>>>>> To unsubscribe from this group and stop receiving emails from it,>>>>> send an email to acesthetics+unsubscribe@googlegroups.com. To post>>>>> to this group, send email to acesthetics@googlegroups.com. Visit>>>>> this group at http://groups.google.com/group/acesthetics?hl=en. For>>>>> more options, visit https://groups.google.com/groups/opt_out.>>>> >>>> >>>> -->>>> You received this message because you are subscribed to the Google&
gt;>>> Groups "ACEsthetics" group.>>>> To unsubscribe from this group and stop receiving emails from it, send>>>> an email to acesthetics+unsubscribe@googlegroups.com. To post to this>>>> group, send email to acesthetics@googlegroups.com. Visit this group at>>>> http://groups.google.com/group/acesthetics?hl=en.>>>> For more options, visit https://groups.google.com/groups/opt_out.>>>> >>>> >>>> >>>> >>>> -->>>> You received this message because you are subscribed to the Google>>>> Groups
 "ACEsthetics" group.>>>> To unsubscribe from this group and stop receiving emails from it, send>>>> an email to acesthetics+unsubscribe@googlegroups.com. To post to this>>>> group, send email to acesthetics@googlegroups.com. Visit this group at>>>> http://groups.google.com/group/acesthetics?hl=en.>>>> For more options, visit https://groups.google.com/groups/opt_out.>>>> >>>> >>>> >>>> >>>> -->>>> You received this message because you are subscribed to the Google>>>> Groups "ACEsthetics" group.&
gt;>>> To unsubscribe from this group and stop receiving emails from it, send>>>> an email to acesthetics+unsubscribe@googlegroups.com. To post to this>>>> group, send email to acesthetics@googlegroups.com. Visit this group at>>>> http://groups.google.com/group/acesthetics?hl=en.>>>> For more options, visit https://groups.google.com/groups/opt_out.>>> >>> -->>> You received this message because you are subscribed to the Google>>> Groups "ACEsthetics" group.>>> To unsubscribe from this group and stop receiving emails from it, send>>
;> an email to acesthetics+unsubscribe@googlegroups.com. To post to this>>> group, send email to acesthetics@googlegroups.com. Visit this group at>>> http://groups.google.com/group/acesthetics?hl=en.>>> For more options, visit https://groups.google.com/groups/opt_out.>> >> -->> You received this message because you are subscribed to the Google Groups>> "ACEsthetics" group.>> To unsubscribe from this group and stop receiving emails from it, send an>> email to acesthetics+unsubscribe@googlegrou
ps.com. To post to this group,>> send email to acesthetics@googlegroups.com. Visit this group at>> http://groups.google.com/group/acesthetics?hl=en.>> For more options, visit https://groups.google.com/groups/opt_out.> > -- > You received this message because you are subscribed to the Google Groups "ACEsthetics" group.> To unsubscribe from this group and stop receiving emails from it, send an email to acesthetics+unsubscribe@googlegroups.com.> To post to this group, send email to acesthetics@googlegroups.com.> Visit this group
 at http://groups.google.com/group/acesthetics?hl=en.> For more options, visit https://groups.google.com/groups/opt_out.> > -- You received this message because you are subscribed to the Google Groups "ACEsthetics" group.To unsubscribe from this group and stop receiving emails from it, send an email to acesthetics+unsubscribe@googlegroups.com.To post to this group, send email to acesthetics@googlegroups.com.Visit this group at http://groups.google.com/group/acesthetics?hl=en.For more options, visit https://groups.google.com/groups/opt_out.
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RE: [ACEsthetics] Inhouse financing

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