One of the most common responses I hear from dentists and office managers is “we already have an in-house membership plan in place, but thanks for reaching out.” My immediate thought is “how much of an impact is it creating for your BUSINESS?” Most providers think having a plan checks the “membership” box, and they move on. While having some kind of organized membership plan in place does help your patients, is it really doing anything for your business? Maybe you don’t have a plan at all because you don’t see the value. Throughout the years of talking with dental professionals about membership plans, three specific categories have emerged: Resistors, Attemptors, and Trailblazers. To determine who you are, let’s start with a few questions;
- Is your MONTHLY membership revenue covering any of your major expenses (i.e. payroll, rent/mortgage, your insurance adjustment)?
- Are your membership patients the most profitable patients you see?
- Are your patients choosing your plan over traditional insurance plans?
- Are you always renewing those membership plans on the plan renewal date so you aren’t missing out on revenue?
- Is it reducing administrative time per patient?
Resistors are the folks who simply do not see the value of an in-house membership plan. And they want nothing to do with the topic. In their perspective, they are just slicing their bottom line and offering discounts to patients who are already paying full fees. The team is not on board and they are too busy to add yet another administrative task to their plate.
The Attemptors are those who have created a plan but for one reason or another, it’s not working. Perhaps they are managing it with an excel spreadsheet and only offering an annual payment option. Their patients accept it because they get discounts and it covers their preventive care. It’s a “nice to have” but isn’t really making a huge business impact.
Then you have your Trailblazers. These are likely early adopters who implemented a plan years ago because they recognize the value of loyal cash patients. Many times these are fee-for-service practices (or close to it). They are willing to do whatever they can to create loyalty without signing the evil insurance contract. They love their pricing and revenue independence and freedom to practice without the constraints of a third-party. Their plans are generating thousands of dollars every month and it is a significant revenue stream for their business. Treatment acceptance is high and patient loyalty is strong. The staff can advocate for the plan, and they all see the value in growing it. The membership plan in their practice is the best thing since sliced bread and they cannot understand why some dentists don’t see it.
So the question is, who are you? Are you a resistor who isn’t interested in membership plans? If so, we obviously have some thoughts on the subject we’d love to share. Our ROI calculator might help change your mind as well. Maybe you’re an attemptor and you don’t know what to do or where to go with your plan. You want it to be profitable but are unsure where to start. We can help!! We’ve even got this handy self-assessment quiz for you. It will help point you in the right direction. If you’re a Trailblazer like us, welcome!! We’d love to hear about your experience or see if there are ways we might help to improve your already stellar plan.
Dental membership plans are the future of dentistry. Don’t resist or attempt, blaze a trail to success, profitability and freedom. We can help, Let’s Plan Forward!