Tips for staying afloat during an economic downturn
The current economic reality exists. Companies are laying people off. People are losing their dental insurance. But what that’s creating for you is an opportunity, not merely lost patients and practice revenue. It’s all in how you look at it.
During a recession, it helps to think long term. The people who lost their jobs during this crisis will find new ones. That’s a fact. Sure, some will move, but some were going to move anyway. Some will go to another dentist, but some were going to go to another dentist anyway. Some won’t get care, but some were never going to get care.
So knowing all of this, let’s look again at how you can use this time as a way to reinvent your practice and offer more.
Eliminate the Perceived Need for Dental Insurance
One doc who called to speak with me was located in an area where not just one, but three major local employers had shut their doors and the employees were all met with pink slips. He explained to me that many of his patients were losing their insurance benefits.
I explained to the doctor that the insurance companies have done such a good job at getting the public to believe they need insurance benefits to visit the dentist that when those insurance benefits aren’t available to them, they often choose not to go to the dentist or follow through with treatment.
We talked about how to provide the people of his community with a way of affording his care so that they could keep coming to his office. In offering value oriented, bundled preventive care through the QDP system, the doctor was able to eliminate the perceived need for insurance while offering the patients in his town a comparable break on the cost of their dentistry. He made it possible for them to continue getting their care at roughly the same cost as before, but on his terms and with his fee schedule rather than a third party insurer’s. Best of all, the insurance company didn’t get to pocket all the profits. He did.
The Geographic Exclusivity Advantage
When you’re a QDP member, your office gets an exclusive territory and no other dentist in that territory can offer QDP.
Unlike with PPOs, where your office is lumped onto a list with many, many other practices, QDP gives your office the ability to offer the local population a unique benefit to having you as their dentist. Can you think of a better way to build patient loyalty?
In many parts if the country, up to 60% of the population does not have dental insurance. Many of these people are looking for an affordable option for their oral healthcare. Why not give them one by using Quality Dental Plan and turn them into a loyal member of your practice? They will not want to go anywhere but your office.
Let’s be honest, your patients don’t love dealing with insurance companies any more than you do. They find them demeaning and bureaucratic, but they deal with them because they don’t believe they have any other options for affordable care.
If you’re the one offering them what they want, at a value they can afford, at a time when they likely feel no one is looking out for them, aren’t you the hero?Find Out More About QDP >>