Patient financing used to be something a practice only offered after a patient said the cost was too high. Today, leading operators treat it as an integral part of their growth strategy.

‍

Mike Kimbell, SVP of Health & Wellness at ClarityPay, has spent more than two decades in point-of-sale patient financing at top lenders in the industry. Throughout his tenure, he has worked inside a wide range of clinics including med spas, dental practices and veterinary hospitals interfacing with industry KOLs, executives, and office teams.

‍

He now leads ClarityPay’s work with health and wellness partners. We asked him what he has learned, what sets ClarityPay apart, and where patient financing is headed in 2027.

‍

‍

After 20+ years in patient financing and spending time alongside practitioners and their operations teams, what have you learned?

It works best when a practice treats financing as a strategic growth lever, not a reactive affordability tool. Patient financing began as a response to affordability. In the early days, it was something you offered when a patient complained about cost. Once companies understood the economics, it became a growth lever. That is where the opportunity is. DSOs and PE firms have sparked that shift, and now both high-performing organizations and independent practices alike have adopted that mindset.

‍

The operating picture changed too. During COVID, practices began bringing more specialties in-house, like implants, oral surgery and periodontics, to improve growth and margins. That makes flexible financing even more important.

‍

It falls short when financing options are limited, cookie-cutter and inflexible.

‍

Over the last five years, adaptation has been the biggest marker of success, and not only for practices. It applies to lenders and strategic partners too.

‍

‍Which of those lessons did you bring to ClarityPay, and where do they show up?

This is the fun part of my career. There is nothing better than partners who love to strategize and want to challenge their financing partner to help them reach their goals, and I enjoy rising to that challenge. Don't be afraid to test and learn, pilot new lenders, A/B test offers and programs. A good lesson for both practices and partners.

‍

‍ClarityPay was built around “a new class” of patient financing. What does that mean in plain terms?

It means we evolve and create alongside our partners to meet their goals. We stay close with ongoing strategy discussions, and we tailor our solutions to what a practice needs. It is not a set-it-and-forget-it relationship. We also act fast and stay nimble when a practice needs a change. At larger bank lenders, optimizing a program can mean a lot of effort, red tape, and long lead times.

‍

And candidly, our focus is meeting the sale for all types of cases – going far beyond $2K approvals.

‍

‍How does ClarityPay approach covering the full cost of care?

We focus on approval rates for the partner’s average case size. We know what it means to cover the ideal treatment amount, and we want to cover it for as many patients as possible.  

‍

For example, we partner with a very large DSO that is focused on implants. We worked to understand the exact pricing of its implant cases, and we factored into our underwriting the full case amount, not a partial offer. That is a decision we made deliberately. We are meeting the practice’s standard and the patient’s experience, and it can greatly improve case acceptance rates.

‍

That is the difference between a catalog approach and a tailored one. And it doesn’t take much more than a strategic planning call to get started.

‍

‍Why does elevating a patient’s purchasing power matter for bringing them back?

In most healthcare segments, the business is built on repeat visits and treatment add-ons. A patient’s purchasing power with ClarityPay is dedicated to the practice a patient converts with and helps build the lifecycle programs to keep patients coming back. Unlike a network or a general-purpose credit card, it can’t be spent elsewhere.

‍

‍With so many financing options out there, what makes ClarityPay stand out?

Two things. First, our full-spectrum coverage allows us to help generate additional revenue across credit levels.  

‍

Second our focus is on conversion and retention. The goal is to get the most patients into the chair and returning to the practice.

‍

‍What partners are the best fit for ClarityPay in health and wellness?

Anyone who believes there is room to improve. If you want to improve conversion rates, cover more of the cost of treatment, and reduce the upfront down payment, we can help. We can also work with your existing program infrastructure. It doesn’t require replacement.

‍

‍What do your best-fit partners have in common?

They take their financing program seriously as a growth driver. You can’t acquire your way to growth the way you could three years ago. Same-store growth has stayed largely flat, and practice acquisition can no longer carry the strategy, so organizations need to go deeper on growth. Improving the financing program is one of the clearest ways to do that.

‍

‍What ClarityPay innovation are you most excited to share?

We are already live with loyalty integrations in other industries, and we are working to bring that to health and wellness. We want to apply retail and ecommerce best practices to further support repeat purchases and long-term relationships in the health and wellness space.

‍

‍What is your prediction for 2027 in patient financing and buy now, pay later in health and wellness?

Whether it is 2027 or 2028, I expect continued advances in operations technology, with more technical partnerships across AI, SaaS and integrations, to make financing orchestration easier for practices. The goal is personalized solutions at scale, and ClarityPay is primed to be part of that.

‍

‍What is the number one signal that a DSO or practice should reach out about optimizing its program?

Stagnant same-store growth. If you have a growth goal and want another avenue to optimize, whether it is clinical, revenue cycle management or patient financing, let’s talk.

‍

Learn more about ClarityPay for Health & Wellness

‍

* All loan applications are subject to credit approval by DR Bank. Terms may vary.