What if you could increase your practice’s revenue while offering patients more affordable care? In today’s competitive dental industry, practices need innovative solutions to stand out and thrive. One such solution is a custom dental plan. This membership model allows you to create tailored programs that benefit both your practice and your patients.
In this post, we’ll explore how a dental plan can add value to your practice, improve patient loyalty, and boost your bottom line.
1. What is a Custom Dental Plan?
A custom dental plan is a membership program designed by your practice to offer patients discounted services in exchange for a recurring fee. Unlike traditional insurance, there’s no third-party involvement. Instead, you set your own fees, discounts, and services, giving you complete control over the plan.
This model is particularly appealing to uninsured or underinsured patients who want affordable, predictable dental care. For practices, a custom dental plan creates a steady stream of recurring revenue while fostering patient loyalty.
2. Benefits for Your Practice
Implementing a custom dental plan offers numerous advantages for your practice:
- Increased Revenue: Recurring premiums provide a steady income stream, helping you grow your practice’s financial health.
- Improved Patient Retention: Patients who join your plan are more likely to return for regular care, increasing chair occupancy.
- Greater Flexibility: You decide which services to include, how much to charge, and what discounts to offer.
- Reduced Reliance on Insurance: Attract patients who don’t have or don’t want traditional insurance, expanding your patient base.
A custom dental plan is a win-win for both your practice and your patients, offering value and convenience.
3. How a Custom Dental Plan Adds Value for Patients
Patients also benefit significantly from a custom dental plan:
- Affordable Care: Predictable costs make dental care more accessible, especially for those without insurance.
- No Insurance Hassles: Simplified payments and no claim denials mean a smoother experience for patients.
- Exclusive Discounts: Members enjoy special rates on services, making it easier to maintain their oral health.
By offering a custom dental plan, you provide patients with an affordable, hassle-free alternative to traditional insurance.
4. Steps to Create a Custom Dental Plan
Creating a custom dental plan is easier than you might think. Here’s how to get started:
- Assess Your Practice’s Needs: Identify the services and discounts that make sense for your patient base.
- Set Your Fees: Determine the monthly or annual premium and the discounts you’ll offer.
- Choose a Platform: Use tools like Taubra Dental Plans to create and manage your plan efficiently.
- Promote Your Plan: Train your staff to explain the benefits and enroll patients.
With the right tools and strategy, a custom dental plan can be up and running in no time.
5. Common Questions
Here are the answers to some frequently asked questions:
- How much does it cost to set up a custom dental plan?
Most platforms charge a flat monthly fee (e.g., $149.95) plus a small percentage of premiums. - Can I change my fee schedule later?
Yes, you can update your fee schedule as needed to reflect changes in your practice. - How do I market my plan to patients?
Train your staff to explain the benefits and use in-office signage, social media, and email campaigns to promote the plan. - What happens if a patient cancels their membership?
Patients can cancel at any time, but you’ll retain any premiums paid up to that point.
Conclusion
A custom dental plan is a powerful tool for increasing your practice’s value, revenue, and patient loyalty. By offering affordable, predictable care, you can attract new patients, retain existing ones, and create a steady stream of recurring income.
Ready to add value to your practice? Schedule a call today to learn more about creating your own custom dental plan and take the first step toward a brighter future for your practice!