Declining reimbursements, administration hassles, and the increased cost of running a dental practice due to Covid-19 have made many PPO plans unprofitable. As a result, many dental practices are evaluating PPOs to determine if they should drop ones that don’t work for their practice. To help, we have created the 7 Steps to Drop Your Bad PPOs. This blog post expands upon one of the steps in the playbook. Namely, before dropping any PPOs, it’s important to offer your patients an alternative to their existing coverage. A dental membership plan is the perfect solution since it’s an affordable, comprehensive coverage option for your patients. It puts you in control and can be implemented quickly.
A membership plan fills in coverage gaps
A membership plan provides a great coverage option for patients that currently have insurance plans that you no longer accept. A membership plan is similar to a PPO because it includes preventative care and provides discounts on additional treatment. However unlike a PPO, patients gain access to benefits immediately and there are no hassles like deductibles, waiting periods, or annual maximums. Patients transitioning from a PPO value the simplicity, transparency, and affordability of the membership plan.
A membership plan is exactly what your uninsured patients want
A dental membership plan is also an excellent way to re-engage your uninsured and dormant patients who avoid treatment due to lack of coverage. Uninsured patients worry about not having coverage, are very uncomfortable negotiating price, and overestimate the cost of care by 200-500%. As a result, many feel vulnerable and avoid visits and treatment. In fact, uncovered patients visit 2-3X less than patients with coverage and accept half the treatment.
The good news is that Kleer’s research found that 89% of uncovered patients want to purchase a dental benefit if it is simple, transparent, and affordable. A dental membership plan gives patients exactly that! Payments are affordable, prices are transparent, coverage is easy to understand, and there are no hassles that come with dealing with third-party insurers. Patients have the flexibility to sign up for monthly or annual payments and benefits start the minute they join. The simplicity and transparency of a membership plan creates a membership club effect resulting in regular visits and a higher treatment acceptance.
You are in control
Dental membership plans put you in control. By cutting out the insurance middleman you are able to provide the quality coverage patients are looking for while untangling yourself from the red tape of a PPO. You set the price of your plans, you set the treatment protocol, you are paid directly by patients, all while providing them with exactly the coverage they want and need.
Membership plans get results
Kleer’s data shows that membership plan patients are the best patients. They visit 2-3X more often than uninsured patients, and generate 2.1X more production. Based on data from our platform, membership plans generate on average $25-$60 per patient per month—or $30,000-$72,000 per year for every 100 patients that subscribe. Much like Amazon Prime or Hulu, patients are motivated to use their benefits; resulting in more visits, more case acceptance, and higher production.
Once you implement your dental membership plan, the process of dropping bad PPOs and revitalizing your practice can begin. To get started, assign one person in your office to manage and track your plan. Promote it regularly in your office, on your website, and through social media. Then, set goals and track your progress each week to see how many new members you can enroll. By using your membership plan as a new foundation for patient retention and loyalty, you can begin identifying and shedding those coverage options that do little for your business or your patients. Download Kleer’s Steps to Drop Bad PPOs Playbook to learn more about how to navigate this process and start down the road away from bad insurance.