Over the last year, we have had several patients ask us if they can pay for their dental treatment with Bitcoin or other crypto currencies, and the answer is usually no… until now.
The difficulty for the dental practice is in the accounting of these things, any income still needs to be taxed, and very few accounting systems cater for bitcoin and crypto currencies.
In Feb 2024, I should have finished setting up my own dental practice, and therefore will not be reliant on any third party systems for accounting, and therefore, we should be able to accept crypto currency, although we will likely limit this to the most common currencies.
We would not expect a lot of our patients to pay like this, but we understand that for some patients, this would be a very convenient way to pay, and hence, we are looking into systems to implement this.
How the process is likely to work:
The assessment
We would need to see you for an assessment appointment, and here we would need to go over your situation in detail, and work together to find the best treatment plan for you.
At this stage, you would have the overall cost of the treatment in GBP (£).
Paying in Crypto
If you chose to pay in Bitcoin or cryptocurrency, then we would look at the value of the currency on that day, and come to a figure for that day.
Cryptocurrencies are typically volatile, and if you were thinking of paying in stages, we would need to look at the conversion rate of that day that you were thinking to make the payment, and agree on the conversion rate for that day.
Service Level
No matter how you pay for your treatment, the level of service and care will always remain at the highest level, it is just the form of payment that will have changed.
