in-house dental plans

Will In-House Dental Plans Grow My Practice?

In-house dental plans are continuing to grow, especially as the nation’s healthcare coverage evolves. With many patients beginning to pay out of pocket or neglecting their oral health due to the expense, these plans can benefit both your patients and your dental practice. There are a few essentials, though, to ensure your practice experiences the greatest growth possible.

Research Pricing Before Launch

If you don’t set the right prices for your in-house dental plan, you run the risk of not breaking even. You don’t want that! Instead, sit down with your internal fee schedule, as well a list of what other local practices are charging. (And what their plans include.)

You want to be competitive, but you also want to ensure that this is a beneficial option for you as well. Many practices include routine services like cleanings and x-rays in the plan, and members receive an additional 10% off other services like fillings or perio cleanings.

Auto-Renewal Automates Your Dental Practice

Auto-renewal creates an efficient system for all parties. As your plan begins to scale, you want this to effectively run itself. This means utilizing automation so your team doesn’t need to manually process payments every month. With auto-renewals, your patients will stay loyal (much like Amazon Prime) and continue to use your services.

There are software solutions to help you automate the entire process, which will also let members sign up from your website.

Get Approvals First, Then Spread the Word

You need to be cautious when marketing an in-house dental plan. Existing insurance contracts and not registering with the applicable organizations can lead to a sticky legal situation. Have your attorney review all existing contracts with insurance companies as well as the plan specifics so there’s no conflict. Some insurance companies require you to accept whichever is lower: the stated fee schedule and published fees, which could decrease your reimbursements.

Some states view in-house dental plans as a type of insurance, so you will need to get it approved by the insurance commissioner. Other states categorize these as “discount plans” or “prepaid plans” and need to be registered with the state. This would require the plan and all marketing materials are submitted for review.

Once your plan is approved, it’s time to spread the word! Give it a prominent spot on your website, include it in your email newsletters, and post on social media. We recommend using some of your Facebook Ad spend to increase awareness.

The Bottom Line on In-House Dental Plans

In-house dental plans are an ideal way to make your practice as accessible as possible for patients while also increasing recurring revenue. When done well, these plans can definitely help grow your practice! Just remember the essentials: price it right, automate, and register as necessary.

To maximize your practice’s growth from these plans, make sure you market it well. Train employees on how to discuss it with patients, and promote it externally on all channels.

As the healthcare landscape continues to evolve, it’s important that your dental practice evolves as well. In-house dental plans can help you grow your practice and better serve your patients, just make sure to establish it well first. When you start strong and plan for success, you can create a thriving dental practice for your patients and your team.