How you can grow your practice without relying on insurance
There’s a myth pervading our industry that if you’re a fee-for-service practice, the only way to spur your practice income is to go PPO. However, the reality is that nothing could be further from the truth. The solution isn’t going PPO, clearly, or you would have buckled and gone down that path already. It lies in learning how to keep patients coming back when costs are rising and unemployment is high. Fee-for-service practices are feeling the pinch as patients are reducing their visits to reduce costs. And chances are you don’t know where to turn or what alternative measures to take to stay afloat.
Is the Grass Really Greener?
The fee-for-service model has served your business well when times were good. But things are a lot tougher than they used to be. We’re dealing with an X factor that no one saw coming. And the very things that served you well will need to serve you again as you reinvent your practice.
When you’re struggling as a fee-for-service practice, it’s only natural to look over the fence at dental insurance. And the grass over there really does look greener at first glance.
But don’t be tempted and don’t be fooled. It doesn’t matter whether it looks greener over there because the grass is greener where you water it.
Presenting an Alternative to Insurance…
The very things that helped you become a successful fee-for-service dentist are what will help you grow your practice income. All it takes is for you to apply the same thinking you used in becoming a fee-for-service dentist to becoming a Quality Dental Plan (QDP) dentist.
What if you can provide the services they need at less cost than they are spending for insurance plans today? What if you could offer fair savings on the more expensive treatment that they’d be paying out of pocket for anyway?
Quality Dental Plan is a benefit program for patients, but one that allows the dentist to set the fees and decide on the benefits. QDP puts the dentist in control, not the third party.
QDP can also increase treatment plan acceptance. You see, any time that people pay for a membership program, they want to get their money’s worth and take full advantage of the benefits that come from that membership. Think of Costco, BJs or Sam’s Club, and consider how many miles people travel just to shop there because they have a card that provides them with discounts and perks that not everyone gets.
Grow Your Practice With QDP
It’s simple psychology. Charge people for a membership and they’ll spend more. This works in your dental office as well. When a patient is presented with treatment and is a QDP member, they’ll want to use those benefits. You’ll notice that your QDP patients will even pursue elective treatment in order to take advantage of their membership.
There is another option for your practice. Now that we’ve busted the myth that you have to go PPO to keep your practice income high, all you need to do is to keep doing what you’ve been doing your entire career: remain a fearless innovator who isn’t afraid to try new things. Are you ready to get started?Find Out More About QDP >>