As dental insurance premiums continue to rise for patients and reimbursement rates continue to decline for dentists, the market is shifting 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, a subscription-based model which typically offers patients the option of low monthly payments or a discount for a one-time payment-in-full.
Operating a Membership Plan without a Management System
According to American Dental Support, 40% of dental practices offer a subscription plan to patients, but do not have a management system or software for tracking member participation and billing. Anyone can create a plan that benefits patients, but the goal is to create a plan that benefits the business, too.
This lack of technology and automation often leads to more administrative work for a practice team that is already over capacity. Because the team is handling more of the administrative tasks, it takes longer to enroll patients and manage the plan on a day-to-day basis. As a result, a smaller percentage of the practice’s uninsured patient base is enrolled on the plan.
Ultimately, the membership plan feels like a lot of extra work for the practice team with an insignificant impact on revenue or even 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 carried by the practice team.
Giving dentists the freedom and flexibility to practice how they see fit and trusted in practices nationwide, Plan Forward makes the experience of creating and launching a membership plan personal and simple. Plan Forward’s customers 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, grow recurring revenue with pricing engineered to increase practice profitability as it scales, and build patient loyalty with plans designed to deliver recurrent preventative care to uninsured 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.
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.
To learn how Plan Forward can help you leverage your uninsured patient base, or for more information, schedule time to speak with our team of dentistry experts.