What is a Dental Membership Program? 15 Minutes
Watch the course video, read the article and download the free resources to learn more about dental membership programs.
Do you have Amazon Prime? or a Costco Membership? Those are perfect examples of a successful membership program. You can create the same strategy for your practice. Patients can pay your office a monthly or yearly fee to get access to benefits and discounts to your practice (your practice only, there is no network). Your practice creates the plan benefits and the plan pricing and then promotes it to existing and new potential patients.
Imagine if you had 1,000 patients paying your office $35/mo. This means your office, if set up correctly, will generate $35,000 or predictable recurring revenue for your practice (This is just counting membership fees, you will generate more with treatment plans). What can you do with this type of revenue stream? will it help you cover payroll costs predictable each month? will it help you pay your overhead or order supplies? I know one thing that it will help you do, sleep better at night. Cash flow issues are a dental practices worst problem (and other businesses as well) . I know because I have managed both business models – a predictable recurring revenue model and a feast and famine model. I would rather gouge my eyes out if I had to run another feast and famine business model again.
The point is that dentistry is changing for the better. Especially for practice owners who want to reduce their dependence on dental insurance and work directly with patients, middle men are the worst!
1. Share this video with your team members – This is the key to success!
2. Download our Ebook about creating a membership program below
Jordon Comstock is the founder and CEO for BoomCloud. He focuses on teaching dental practices about the importance of creating membership programs to generate recurring revenue, build patient loyalty, increase external marketing and increase case acceptance.