Are you a dental professional looking to increase patient loyalty and profits? Megan Lohman, Kristin Nistler, and Sarah Patterson have the answer.
“When you can give these patients a transparent view with simple pricing, and you bundle it and you set a price on it, then they just have this peace of mind and they come in every six months for these hygiene appointments.”
In this workshop replay, Megan Lohman will share her best-known methods for achieving ultimate success with a membership plan in your practice. She’ll walk you through the evolution of membership plans, how they’ve changed, and how they can help drive so much business impact. A membership plan is not just a one-time fee, it’s an opportunity to create predictable revenue and cash flow. In this blog, Megan will outline exactly how to leverage membership plans to increase patient loyalty and unlock success for your practice.
Welcome to our webinar. Today, we are excited to introduce Megan Lohman, Founder and Co-CEO of Plan Forward, a SaaS platform supporting Best membership plans for dental practices. Megan is a successful and innovative female entrepreneur and businesswoman who has authored many articles for leading dental publications and speaks nationally for many dental associations, study clubs and meetings. She has firsthand experience of the issues dental practices face with membership plans, and built Plan Forward to help streamline operations and create a more efficient practice. Joining Megan today is Kristin Nisler, Director of Alliance Partner Business Development at Best for Dentistry, and Sarah Patterson, who will be moderating the webinar. We look forward to hearing Megan share her best
Why is it important for dental professionals to leverage membership plans to increase patient loyalty?
It is essential for dental professionals to leverage membership plans to increase patient loyalty in order to ensure both the success of their practice and the satisfaction of their patients. Membership plans provide patients with incentives to keep coming back and can be used to reward loyalty with discounts, special offers, and priority access to appointments. This encourages patients to form a bond with the dental practice and their dental professional, which in turn increases the likelihood of them returning for future appointments. In addition, having a membership plan in place can help to bring in new patients by offering them the same rewards and incentives as existing patients. This is beneficial for the dental practice as it allows them to expand their patient base while still fostering loyalty among current patients. By leveraging membership plans, dental professionals can ensure that their practice remains competitive and successful in their field.
Here are the steps you need follow to retain cash patients:
1. Create a plan to provide a solution for uninsured patients
2. Use software platforms to create a more consultative approach
3. Introduce membership plans that remove the fear of cost for patients and create predictable revenue for the practice.
#1 Create a plan for provide a solution for uninsured patients.
Creating a plan to provide a solution for uninsured patients can be a daunting task. The first step to creating such a plan is to understand the needs of uninsured patients and the services they require. Uninsured patients are typically looking for alternatives to traditional dental insurance, and it is important to consider how they might best be served with a membership plan. It is also important to consider the structure of the plan, and how it might be different from a discount plan. When creating a membership plan, it is important to consider the services that will be included, the cost of the plan, and if there will be any added value for patients that join the plan. For example, a typical plan may include two cleanings, discounted exam, cleaning, bite wings and fluoride, and discounted restorative treatment. It is important to also consider if there will be any enrollment fees or if the plan will be a subscription based model with monthly or annual payments. Lastly, it is important to consider the renewal process and how patients will be notified when their membership plan is up for renewal. By taking the time to consider these components, a successful membership plan can be created that both meets the needs of uninsured patients and provides a reliable source of revenue for the practice.
Once the plan is established, it is important to promote it to uninsured patients. This can be done through traditional advertising methods, such as print, radio and television, as well as through online marketing efforts. Additionally, it is important to reach out to local community organizations and offer information sessions to educate uninsured patients about the available plans. It is also beneficial to reach out to nearby dental offices and let them know about the plan, as they may refer patients who have no insurance. Finally, it is essential to track the success of the plan. This can be done by tracking the number of members, the number of services provided, and the average cost per member. This information can be used to make adjustments to the plan, if needed, and ensure that it continues to meet the needs of uninsured patients. By following these steps, a plan can be created that provides a solution for uninsured patients while remaining a reliable source of income for the practice.
#2 Use software platforms to create a more consultative approach
Step 2 of this process is to use software platforms to create a more consultative approach. This is done by leveraging the software to help create membership plans that are tailored to the practice’s patient demographics and the needs of the uninsured patients. The software can be used to create a membership plan that bundles preventive care services and sets a price for them. This removes the fear of cost that uninsured patients have when they walk into the office and gives them peace of mind that they can come in for preventive care without worrying about the cost. Additionally, membership plans create a predictable revenue stream for the practice, as they are charged a yearly or monthly fee to access the discounted services. The software can also be used to track the renewal dates of patients and quantify the missed revenue opportunities that occur when a patient fails to renew on time. This helps create more efficient operations within the practice and allows the practice to maximize their revenue potential.
Thirdly, the software platform can be used to improve patient education and communication. Patients can be sent automated reminders for their appointments via text or email, as well as information about their specific health plan. This helps to ensure that patients are aware of their coverage and can make informed decisions about their treatment options. Additionally, patient education materials can be stored in the software and sent to patients as needed. This helps to ensure that patients have access to reliable and up-to-date information about their health conditions and treatment options. Finally, the software can also be used to analyze patient data and generate reports that can be used to assess the practice’s performance and identify areas of improvement. This data can be used to inform decisions about patient care, marketing, and other operational aspects of the practice. The software can also be used to track patient outcomes, allowing the practice to make changes and improvements to the care they provide based on the results. In summary, using a software platform to create a more consultative approach can help to improve the quality of care and operational efficiency of the practice.
#3. Introduce membership plans that remove the fear of cost for patients and create predictable revenue for the practice.
In order to introduce membership plans that remove the fear of cost for patients and create predictable revenue for the practice, it is important to understand the differences between a discount plan and a true membership plan. A discount plan is where a patient pays a one-time fee to access a discounted fee schedule for all services, which are billed ala carte. This does not eliminate the fear of cost for the patient, as they are still paying each time they come in for service. A true membership plan is a subscription plan offered directly by a provider to their uninsured patients. The preventive care is bundled and the provider sets the price, usually at a one-time enrollment fee. This fee is paid either monthly or yearly and restorative care is discounted. With a membership plan, the patient has the peace of mind that they are not paying for services at the time of service, which encourages them to come in more regularly for preventive care and to accept more treatment. Membership plans also create predictable revenue for the practice, as they are collecting fees for services even if the patient does not use them. Lastly, membership plans typically result in increased production, profits, and cash flow for the practice.
In order to ensure a successful membership plan, the practice must be able to communicate the plan to the patients and understand their needs. A practice should have an informative website and a dedicated staff member who can explain the plan to patients in person or over the phone. Additionally, the practice should offer incentives for signing up for the membership plan, such as a free consultation or a discounted service. Practices can also use marketing tactics to get the word out about the membership plan, such as email campaigns, direct mail, and social media. Finally, it is important to monitor the metrics of the membership plan to ensure its success. Practices should track numbers such as the number of members, the average cost per treatment, the number of treatments per patient, and the number of patients who are referred from the membership plan. This will help the practice understand which areas of the plan need improvement and which areas are successful. By taking the time to understand the metrics of the membership plan, the practice can ensure its success and create a predictable revenue stream.
Dental professionals have the opportunity to increase patient loyalty and profits by leveraging membership plans. By understanding the needs of uninsured patients, creating a plan to provide a solution, and using software platforms to create a more consultative approach, dental professionals can introduce membership plans that remove the fear of cost for patients and create predictable revenue for their practice. With the right plan in place, dental professionals can maximize their revenue potential and unlock success for their practice. With the right strategy, you too can unlock patient loyalty and achieve the same results.
