A new approach offers increased opportunities for dentists to grow their practices
It is a fact – patients are spending less on dental care today than they were four years ago. Unemployment rates are still high, and employers are downsizing their benefits. It is easy to see why those who once believed dentistry was recession-proof now have reason to take pause. However, it does not have to be this way. These challenges can be overcome with a change in the way we currently do business.
Quality Dental Plan is a different approach to our patients’ dental health benefits. It is an in-office savings plan providing both dentists and patients an alternative to traditional insurance, and helps dentists offset the changes in patient behavior brought on by the still slow economy. Here’s how:
Change #1: In-Network Dependence. When money is tight, patients with insurance often become more rigid about staying in network – even if that means leaving a long-time dentist. QDP helps you retain patients by offering them a low-cost way to stay with the practice they already love. And because there are no copays, premiums or deductibles, it may even be less expensive than their employer’s plan.
Change #2: Uninsured Patients. It’s estimated that 60% of the population is currently without dental benefits. When paying out of pocket is the only option, even those who know the value of dentistry are likely to go into avoidance. QDP makes care affordable and accessible to hundreds of local consumers who might otherwise forgo treatment.
Change #3: Patients Are Spending Less. Study after study shows that Americans are spending less on dentistry in this economic climate. QDP helps in two ways. First, it provides a source of new patients to help offset the lower per-patient production. Second, with QDP, patients pay upfront for basic care for the whole year. This eliminates the time suck of collections and removes the need to have to “sell” the same patient on treatment on every return visit. And when patients have paid for the year in advance, they’re more motivated to visit regularly to get their full benefit – giving you more opportunity to present and perform treatment.
Change #4: Fewer Elective Services. In a recession, patients are typically focused on budget and savings. But surprisingly, this doesn’t mean that all patients spend less – it often just means they are more selective about finding value. Because QDP unlocks exclusive savings on cosmetic and elective services, it can actually motivate patients to accept treatment. And because patients have prepaid, they’re unlikely to leave your practice for another dentist’s discount.
Change #5: Longer Recall. Dental patients are notorious for procrastinating – even more so when budgets are tight. Having paid upfront to access savings through their QDP plan gives them an incentive to keep regular hygiene appointments, and make sure their family does too. And while insurance patients often delay a visit until a new benefit year begins (with an all new annual limit), QDP lets them start treatment anytime.
Going on network with insurance companies is no longer the only option. Quality Dental Plan offers dentists and patients another solution to overcome the current challenges in today’s marketplace.