By now we're sure you know what a dental membership plan is... but just in case; a dental membership plan is a chance for your patients to receive standard preventative care as well as discounts on various restorative treatments for a monthly or annual fee. More info on what a dental membership plan is here... Now that we've refreshed your memory, you may still not be quite clear on the benefits to your practice. No worries, we're here to help!
1. Eliminate your dependence on insurance companies and increase treatment acceptance.
"Patients usually join these membership plans, also known as dental savings plans, to avoid the limitations of insurance companies, supplement holes in existing coverage, or establish an emergency treatment fund." dentaleconomics.com
How many times have you heard, "my insurance won't cover that, do I really need it?" This undermines the doctor! Why are insurance companies dictating what treatments are right for your patients? This is unacceptable. Did you know that patients on a membership plan utilize their preventative care appointments and stay current with treatment far more than insured patients? It's true!
What about insurance write offs? "While inflation has rolled along, dental benefit coverage is still at the 1970s level! If coverages had kept up with the rates of inflation, average annual maximums would be close to $10,000! Additionally, dental benefit providers are requiring dentists to write off more and more of the differences between their benefits and the actual cost of the services while requiring patients to pay more out of pocket with no out-of-pocket maximum that benefits medicine. As one can see, dental insurance is not insurance at all!" Registered Dental Hygienist Magazine
Overall, insurance companies can cause more strife than security.
2. Recurring revenue - two of the best R words in the English language!
YES! Membership plans build recurring revenue for your practice. Remember the pandemic? Hard to forget right..? Dental practices all over the country were forced to close their doors to protect themselves and their patients. Practices utilizing a membership plan still had revenue coming in while their doors were closed AND saw an increase in memberships because of layoffs or changes in employment. That's right! They were building their practice even when forced to close. Were you?
3. Patient loyalty - you know them and love them, make sure they feel the same about you.
Patients want to see one doctor, in one location who can really get to know them and their health. Perio patients especially do not want to jump from one dentist to another. Membership plans ensure that your patients stay with your practice through employment and life changes. Patients on a membership plan are also more likely to complete their treatment plans because they are already paying for the service. Their teeth stay at the top of their mind and thus, your practice does too!
These are just three benefits of a dental membership plan. If you'd like to hear more please reach out! We are happy to help you set up your membership plan today. And remember, we know because we've been there. Our platform was developed by a dentist and their staff. We're here to help, Let's Plan Forward.
To learn how Plan Forward can help you leverage your uninsured patient base, or for more information about Plan Forward, schedule time to speak with our team of dentistry experts.