Dental Implants with Low Monthly Payments
Dental implants have quickly become the gold standard when replacing a natural tooth. The surgically placed titanium post acts like a natural root providing stability and security. An average dental implant can cost between $1,500 and $3,000 and often dental insurance plans do not cover their placement or only a portion. There are financing options available, simply ask your dental office. A successful dental implant involves not only technology, a caring and trained dentist, but also creativity. Creativity not only with proper logistics with the implant but also creativity with financing for some patients.
The Benefits of a Dental Implant
There are quite a few advantages to having a dental implant placed. Here are just a few.
* A dental implant looks totally natural.
* You can eat what you wish and speak naturally.
* An implant is the most comfortable restoration available.
* The dental implant will improve your smile and increase your self-confidence and self-esteem.
* It will improve your oral health.
* It will prevent jawbone atrophy.
* The dental implant has long life expectancy and is durable.
The Dental Implant Process
If you have lost a tooth from gum disease, decay, or an unfortunate injury, the best treatment today for a restorative replacement is the dental implant. The process can be somewhat extended to achieve unparalleled success. The very first step is to undergo an evaluation. At this time your dentist, with the help of x-rays, will determine if your jawbone is strong enough to accept and support the implant. If not, a bone grafting procedure can give you the mass and density you need. Done often this added step will add a few months to the process.
To begin the actual implant, after the administration of a local anesthetic to numb the immediate area, the jawbone is accessed with a small incision. A small hole is made in the jawbone and the titanium post is inserted into the hole and the incision is sutured closed.
It will take three to six months for the jawbone and the post to fuse or grow together. Through this time, one needs to be patient. This bonding together is what makes the post act as an artificial root. Once it is decided that the post is secure, an extension or abutment is added to reach the gumline surface.
Finally, an artificial crown custom created in a dental lab to match your natural teeth will be placed on top of the extension. You now have the best tooth restoration available. In fact, you might have a difficult time knowing the difference from your natural teeth.
This artificial root does more than support the crown. It delivers biting and chewing pressures to the jawbone. This stimulation prevents further atrophy. It will also deliver hot and cold sensations, again acting as a natural root.
Dental Implant Financing Options
Several financing options will require a good credit score to qualify. There are common options available if you have a lower credit score, here are a few that can cover the cost of your dental implant.
* Sub-Prime Lender Financing- Historically the first option for patients that do not qualify for a standard credit-based medical loan through a primary lender like CareCredit or GreenSky is to then apply for subprime lender financing. Usually, standard lenders require a minimum score of 640 for approval, but subprime lenders take a deeper look at a patient’s history going beyond their credit score. Income, employment history, and other information available through alternative sources are reviewed to understand the risk associated with lending to the patient with the substandard credit rating.
There are quite often a few downsides to subprime lender financing plans. They usually come with higher interest rates and origination fees for the patient. They can put further financial strain on the patient, and they do not benefit the dental office. The terms of the loan are set by a third-party lender and not your dentist, which can reflect poorly on your dentist in the eyes of patients if they appear to be unfair.
* Personal Loans- A second option for patients with sub-par credit is to apply for a secured or unsecured personal loan. Secured loans will require a form of collateral from the patient, such as a car or real estate. The collateral improves the chances of approval and will increase the loan amount. If the patient defaults or the account becomes delinquent, the lender may repossess the collateral.
On the other hand, the other option, unsecured personal loans, do not require any collateral from the patient. Delinquent unsecured loans will be sent to an outside collection agency that follows up with the patient. These loans are more difficult to qualify for with poor credit since the lender takes on more risk without collateral. It could be difficult for a patient that does not qualify for a credit-based repayment plan to be approved for an unsecured personal loan.
* Flexible Pay-Over-Time Plans- Pay-over-time lenders like Healthcare Finance Direct are a third option that will work for all patients, even those that have been shut out from traditional financing options due to a low credit score. Lenders like Healthcare Finance Direct help dental offices treat more patients encouraging a winning health outcome.
Healthcare Finance Direct uses a unique data-driven underwriting process that considers more than just a simple credit report and credit score to determine the risk of loaning to a patient. The lender uses the data to determine the specific terms of an installment loan agreement that includes a down payment. They also use the information collected to set interest rates that mitigate the dental office’s risk. The dental office now keeps the interest on the payments, not Healthcare Finance Direct. With direct debit payments from the patient’s account, the dental office does not have to spend resources tracking down payments.
Not only is it easier for your dentist to approve and treat more patients and generate income using a pay-over-time lender like HFD, but it is also more convenient for the patients. They offer a payment portal where the dental office and patients can access payment information and receive customer service support.