The traditional way of paying for dental treatment may have finally met its match, and this opponent is beneficial to both patients and clinicians. A growing number of dentists are finding success employing in-house membership clubs, giving the old way a run for its money – literally. In fact, the ADA reported this year that 1 in 6 dentists have cut ties with insurance. As in-house membership plans become more popular, dental practice owners and associates are seeing the benefits of pivoting to a subscription-based business. Here a just a few perks of keeping things in-house:
- Increased Patient Retention
Dental membership plans offer structure and stability for regular treatments. Patients aren’t surprised by large bills and can better control their own oral healthcare path, because they can budget for their dental visits and know what to expect. Patient loyalty also tends to be higher with membership clubs, as it gives them decision-making power that doesn’t rely on insurance.
- Predictable Revenue
Not only do membership clubs offer patients stability, clinicians feel empowered with a predictable revenue stream. When you know how many memberships you have and what they bring in each month, you can build on that base to grow your club. It’s a win for both patients and dentists for financial planning.
- Focus On Preventive Care
Membership plans emphasize preventive oral care, so patients are encouraged to maintain regular visits for check-ups and cleanings. This in turn helps reduce the need for costly
restorative treatments. How do patients benefit from membership clubs? In addition to helping you generate a stable revenue stream, the benefits of a membership club for patients is worth a closer look. Subscription-based services are growing in popularity, so customers are more likely to accept this type of structure when visiting their dentist.
If you’re looking to move to this type of structure for your practice, here are three ways you can show your patients the benefits of joining the club:
- Cost Savings
In-house memberships often cover preventive services and allow for discounts on other dental treatments. This is especially valuable to patients who do not carry dental insurance. You can play a pivotal role in helping them maintain their oral health by offering club membership.
- Transparent Pricing
There are no surprises when it comes to the cost of maintaining and receiving quality oral health care. The cost to “join the club” is clear and predictable so patients can easily budget for their care on a monthly or yearly basis. You can further put your patients at ease with up-front literature outlining all the treatments and services their membership covers.
- Personalized Care
Club memberships don’t bend to the will of insurance, so clinicians can offer the treatment plan that’s best for their patients. There’s no waiting for reimbursements (that are getting squeezedmore and more each year) or insurance adjustor telling you what treatment or material to use. You’re the expert and know your patients best. Membership allows for that personalized care your patients deserve and you worked hard to deliver.
Memberships Are Good for Both Patient + Doctor
There are various other reasons membership plans are beneficial to both patient and doctor. For our doctors, the biggest benefit (and by association, their patients) is no more insurance hassles. Time saved on paperwork alone is eye-opening, and you’re no longer at the mercy of treatment approval, shrinking reimbursements, or patients who might be insurance-bargain shopping. Keep in mind that you’re also collecting 100% of the service fee for each member you gain. This puts you back in the driver’s seat of your business so you can run things the way you see fit. Memberships help support patient retention, generate predictable revenue, and streamlined administration. You and your patients both enjoy a better oral health experience.
Ready to Break Free From PPO Prison?
If you’re ready to reduce your insurance dependence and reap the benefits of creating your own in-house membership club, illumitrac provides the software to create your custom dental membership club that is 100% yours. As your membership club grows, you can drop your bad PPOs—allowing you to work less and earn more. Predictable, passive revenue, here you
come! Learn more and schedule your free demo today.