In part 1, we covered four reasons why you should make your membership plans more valuable (valuable builder) and different than Dental Insurance. Not a “discount only” plan (profit killer).
HOW TO SET FEES
In our office we sent out a lot of surveys and study local and national trends.
Knowing when and what your patients and prospects are looking for is key.
For example, if you offer sedation or laughing gas in your practice, it is never covered by dental insurance. Consider that as a benefit to be included within your membership plan/plans that patients can receive a discount, or for free as membership benefit.
For a lot of people, especially people who are really scared of the dentist or have extreme anxiety, that benefit alone will help them switch and join your membership plan because they know that you’re going to help them conquer their fear to get their dental care.
So remember to not fall into that rabbit hole and then don’t keep digging that hole deeper if you have already.
When you take a bad turn or make a bad business decision, remember it’s okay. We’ve all done it in one way or another. That’s how we learn. Sometimes it’s time to stop what you’re doing and change direction. Time to pivot. The same can be done if your membership plans aren’t as profitable or patient-centric as they could be.
Going forward, make it a resolve with your membership plans to create value and make it about offering services and products that are unique and interesting to your patients. Make it an apples to oranges comparison to insurance. Be insurance friendly, but not insurance driven. Don’t play a game that you won’t win. Play the game that sets you in a category of one to your ideal patients.
As Steve Anderson described in his book, The Bezos Letters:
Test – build – accelerate – scale
For more growth tips for your practice and personal life, listen to our Free, recent podcasts https://yourpracticegrowth.com/podcasts/ here. Recent interviews include: Patient marketing strategies, Practice Profits, and Botox.
…read more about practice building topics on this week’s blog post yourpracticegrowth.com/blog here.
Have a great week!
Dr. Tyler Williams, D.D.S.