Example - DENTIST

Overview:
New patients will travel further to you because you accept their trade credit in payment for your work and expertise. When they use trade credit instead of cash, they're saving money (see your example scenario below).

Some assumptions:
1) You are the business owner.
2) Your office is open, the lights are on and your staff are on duty.
3) Your overhead expenses are consistent whether you're working or not.
4) You're seeking new patients and you have some uncommitted time in your schedule.
5) You don't know how you will use your trade credit.

The scenario:
A patient has dental work done to a total price of $1,000.00. They pay 1,000.00 in trade credit.
You then buy NHL Hockey tickets for you and your staff and pay $1,000.00 in trade credit for them. That $1,000.00 purchase cost you only $120.00 (a discount of 88% saving you $880.00).

Here's how we got there:
Your uncommitted time cost you nothing to utilize, and the trade exchange charged you $120.00 when you spent the 1,000.00 in trade credit (a 12% transaction fee).

Summary:
You acquired a new patient just by being a member of Island TradeLink, and you treated yourself and your staff to an NHL Hockey game. This was a successful trade of unsold time for staff bonuses.

In this example we described a purchase almost immediately after you sold your services - but you don't have to spend your trade credit right away, you can save it like cash. And we described a purchase of NHL Hockey tickets - but you can buy whatever you want or need.
View our list of recent purchases for other ideas.

Patients paying with trade credit must be considered extra, new customers. You should deal with them only when you have time not otherwise booked by cash-paying patients (cash IS "King"). You can designate periods of time when you will accept trade credit.

It is your time and expertise that the patient is purchasing with trade credit. Other costs associated with outside lab work or fabrication of dental appliances are considered "third-party cash costs" that the patient will expect to pay in cash.

Learn more about the benefits.