2020 is coming to an end, but unfortunately it doesn't look like the pandemic is any time soon... With new cases surging and states beginning to shut down again, businesses everywhere are wondering how they will survive. Dentists are seeing less patients and paying higher costs (think PPE) than ever before and with flu and cold season upon us, the statistics look grim.
According to the American Dental Association, less than 38% of dental offices are "business as usual" and over 60% are open but seeing a lower patient volume than expected.
So how do you weather the storm? How can you save your practice and survive the pandemic? Can you potentially come through stronger and more self sufficient than before? We think you can!
Here's what we know:
Business Stability = Financial Security = More Money.
Serving Patients Better + Increasing Patient Base + Lowering Costs = More Money.
There's one simple answer to the question on the top of your mind. How do I serve my current patients better AND increase my patient base AND lower my costs?
Easy, Dental Membership Plans.
What is that?
A Dental Membership Program is made up of plans, usually adult, child and perio or some combination. Your dental membership program connects you to your patients in a new and transparent way by eliminating insurance companies. Yes. You read that right.
DENTAL MEMBERSHIP PROGRAMS ELEMINATE THE NEED FOR INSURANCE COMPANIES.
I can see the wheels spinning in your head and I know what you're thinking....
Think of it like Amazon Prime, you are Amazon (and who doesn't want to be Amazon!). Patients pay YOU directly, every month to be apart of your program. In turn, they receive preventative care services from you. Most plans work similar to this:
The expectations are clearly set for the patient and the dentist. There are no hidden fees for either to worry about. Plans are affordable for patients and they create a recurring revenue stream for your practice!!
How much time do you think your staff spends on dealing with insurance companies? Could you even take a guess? I bet its high and it makes them grumpy!! Wouldn't you rather pay them to do something more worthwhile with their time? Like perhaps contacting potential patients or uninsured patients or newly retired patients to get them signed up on a plan?
Will This REALLY Make Me More Money?
I knew you were going to ask this!! But Dr. Jason Flannagan, DDS can answer it so much better and in 37 seconds.
I'm a member of Amazon Prime. If I need anything for work or home I jump on immediately to order it, making sure I am utilizing my two free day shipping! I am so loyal to Amazon Prime because they've made it easy on me. It's so convenient how could I not be loyal?
What if I lost my job? Would I stop paying for Amazon Prime? Probably not, I am so loyal and it's saving me money which I need to do now more than ever.
Now let me rephrase the above: I am a member of your program. If I need any dental work done I am going to call you ASAP because I want to make sure I utilize what I am paying for. Plus I am already in your office regularly for my preventative care. I am loyal to your practice because you've made it easy on me. It's so convenient how could I not be loyal?
What if I lost my job? Would I stop paying for my dental care? Probably not, I still have teeth don't I! And that's my health we are talking about!! I am so glad my dental care wasn't wrapped up in my job. Thank goodness I can still visit my dentist!
See what we mean?
Serving Patients Better
+ Increasing Patient Base
+ Lowering Costs
= More Money = Dental Membership Program!
To learn how Plan Forward can help you leverage your patient base, or for more information about Plan Forward, schedule time to speak with our team of dentistry experts.