If you’re looking for ways to improve your dental practice, you should consider starting a dental membership program. A dental membership program can help generate predictable recurring revenue, improve patient loyalty and decrease dependence on PPOs. In this guide, we will discuss the benefits of dental membership programs and how to get started!
dental membership programs offer a number of benefits that can be extremely helpful for dental practices. For example, dental membership programs can help generate predictable recurring revenue. This is because patients who are enrolled in the program will make regular payments, which can help dental practices budget and plan for the future. In addition, dental membership programs can improve patient loyalty. Patients who feel like they are getting a good value for their money are more likely to be loyal to the dental practice and less likely to switch to another provider. Finally, dental membership programs can decrease dependence on PPOs. This is because PPOs often have high discounts and require a lot of paperwork. By switching to a dental membership program, dental practices can save money and simplify their billing process.
How to set up a dental membership plan
1) Do your research: The first step to setting up a dental membership plan is to do your research. You need to understand the income demographics of the local market you’re trying to attract and set your prices accordingly. In addition, you should research different dental membership programs and find one that fits the needs of your dental practice.
2) Choose a pricing model: Once you’ve done your research, you need to choose a pricing model for your dental membership program. There are two common pricing models for dental membership programs: yearly and monthly subscription. With a yearly subscription model, patients pay for each dental service a year in advance. With a monthly subscription model, patients pay a flat fee every month regardless of how many dental services they use.
3) Set up your billing system: The next step is to set up your billing system. You’ll need to choose a software that can manage dental membership plans and track payments. In addition, you should set up automatic payments so that patients can be automatically billed each month.
4) Promote your dental membership program: The final step is to promote your dental membership program. You can do this by creating marketing materials, such as flyers and posters. You can also promote your dental membership program online by creating a website or blog.
By following these steps, you can set up a dental membership program that will be beneficial for your dental practice. Membership programs can help generate predictable recurring revenue, improve patient loyalty and decrease dependence on PPOs. In addition, they can simplify your billing process and help you attract new patients.
What is possible?
Dental membership programs can have a significant impact on dental practices. In fact, some practices have generated over 1 million dollars per year in predictable recurring revenue. This is because dental membership programs offer a number of advantages that appeal to both dental practices and patients.
Here is an image of a practice that has generated a million dollars in recurring revenue from their membership program managed by BoomCloud:
Some of the advantages for dental practices include:
-Predictable recurring revenue: Dental membership programs can help dental practices generate predictable recurring revenue. This is because patients who are enrolled in the program will make regular payments, which can help dental practices budget and plan for the future.
-Improved patient loyalty: Dental membership programs can improve patient loyalty. Patients who feel like they are getting a good value for their money are more likely to be loyal to the dental practice and less likely to switch to another provider.
-Decreased dependence on PPOs: Dental membership programs can decrease dependence on PPOs. This is because PPOs often have high discounts and require a lot of paperwork. By switching to a dental membership program, dental practices can save money and simplify their billing process.
Some of the advantages for patients include:
-Affordable dental care: Dental membership programs can make dental care more affordable for patients. This is because patients pay a flat monthly fee, which can be less expensive than paying for dental services individually.
-No surprises: Dental membership programs can help patients avoid dental bills with unexpected charges. This is because the monthly fee covers all dental services, so patients know exactly how much they will be paying each month.
-Convenient: Dental membership programs can be more convenient for patients. This is because patients only have to make one payment each month, instead of paying for each dental service separately.
By offering affordable dental care, predictable recurring revenue, and improved patient loyalty, dental membership programs can have a significant impact on dental practices.
How to attract patients to your dental membership program
If you’re a dental practice looking to attract new patients, b2b marketing can be a great way to reach small business owners and their employees. By targeting businesses in your local community, you can educate them about your dental membership program and the benefits it can offer their employees. Additionally, 55+ communities are often great sources of new patients who are uninsured or underinsured. By reaching out to these communities and educating them about your dental membership program, you can help more people get the dental care they need.
To learn more about this strategy, download our ebook titled the million dollar membership plan!
