Dental insurance premiums continue to rise and reimbursement rates continue to fall. This behavior is causing the market to shift toward a patient-centric, value-based model. One way dentists can meet the needs of patients is to offer an in-office dental membership plan. Think of it as subscription-based dentistry. Typically, plans allow patients the option of low monthly payments or a discount for a one-time payment-in-full. This covers their preventative care for a year. The benefits for patients and dentists are plentiful but it’s left some wondering; how do you effectively manage in-office dental membership plans?
Operating a Membership Plan without a Management System
According to American Dental Support, 40% of dental practices offer a subscription plan to patients. Many of them however, do not have a management system or software for tracking member participation and billing. Anyone can create a plan that benefits patients. But the real goal should be to create a plan that benefits the business, too.
Lack of technology and automation often leads to more administrative work for a practice team. And who has time for that? If the team is handling more of the administrative tasks, it takes longer to enroll patients and manage the plan. As a result, a smaller percentage of the practice’s uninsured patient base is enrolled. Ultimately, the membership plan feels like a lot of extra work for the team with an low impact on revenue. Or even worse, a loss in profitability.
Managing a Membership Plan with Plan Forward
Plan Forward’s HIPAA-compliant platform manages member participation and billing. Reducing the workload also de-stresses the team and allows for more productive worktime.
Plan Forward gives dentists the freedom and flexibility to practice how they see fit. Trusted in practices nationwide, they make the experience of creating and launching a membership plan personal and simple. Plan Forward’s clients enjoy the following benefits:
- Industry experts to help create impactful membership plans
- Practice-branded marketing materials
- High-touch implementation process
- Exceptional customer success team
- Plan pricing designed to increase practice profitability as membership grows
The solution enables dentists and their teams to increase treatment acceptance with affordable payment options. It also grows recurring revenue with pricing engineered to increase practice profitability as it scales. Patient loyalty and retention improves with plans designed to deliver recurrent preventative care to patients.
Return on Investment After One Patient Enrolls
In addition, most of our customers see a return on their investment after just ONE PATIENT enrolls in the practice’s membership plan. ONE PATIENT. At patient number two, you’re making a profit using Plan Forward’s solution.
As we like to say in the office, “Really, it’s a no-brainer.” Every practice has a base of uninsured patients. Let’s partner together and offer them an affordable alternative to traditional dental insurance.
