Dental practices are increasingly feeling the pressure of declining reimbursement rates on their bottom line. According to a survey by Bankers Healthcare Group, nearly three-quarters of dentists state declining reimbursement rates as their top industry concern.
Forward-thinking dental practices are protecting themselves by offering in-house membership plans directly to their patients. Similar to loyalty programs such as Costco or Amazon Prime, patients pay a monthly or annual subscription fee directly to your practice and, in return, receive standard preventive care treatments and discounts on other procedure categories.
In today’s reimbursement environment, providing in-house membership plans is no longer a “nice-to-have”, but a “must-have” for growth-oriented practices.
The five reasons discussed in this article are: 1) decrease reliance on dental insurance; 2) earn subscription revenue; 3) improve patient loyalty; 4) engage new patients; and 5) boost practice value.