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CRITICAL FACTOR FOR MAXIMUM PROFIT WHEN CRAFTING YOUR PLAN A common mistake many Doctors make is to take a percentage off various services (e.g., they may offer DHBSP patients 10% off all nonpreventive care). There are two reasons this is a HUGE MATHEMATICAL ERROR and will COST YOU MONEY! As soon as you do the math for yourself, you’ll understand why … REASON NO. 1 On a piece of paper, write down what you charge for Invisalign and a crown. Now write down how much money you’d be discounting if you gave 10% off these services. If you find that 10% is more than $500 off Invisalign and $100 of crowns, then you know why we don’t offer a percentage. REASON NO. 2 This one is even less obvious until you read it. Then it will be crystal clear. Let’s say your benefits plan offers $25 off fillings and extractions; $100 of crowns, implants, and veneers; and $500 off Invisalign and Clear Correct. That means you’re offering ZERO off endo, perio phase I, partials, dentures, etc. While your patients without insurance will be thrilled to have a plan that saves them money even for a limited list of services, you don’t give away the store by offering a blanket percentage off everything you do! To see examples of many of the tri-fold brochures and DHBSP cards we’ve designed for our members, Go to InsidersCircle.com: SITE MAP ADVANCED MARKETING BRAIN TRUST 012 DENTAL BENEFITS IN-OFFICE PLAN BROCHURE. Although we can’t discuss the exact annual fee you should charge for your plan, most of our members charge roughly 1/5–1/4 the amount they charge for their most common crown. This covers the cost that comes with onboarding a new patient. You may give up the profit you would earn from annual exams or “free” (included) services, but you will see a return on your investment through other treatment options they choose. You will find that Mary Smith is finally ready to try Invisalign treatment because through your practice’s dental health savings plan, the treatment option is affordable. And because her preventive care is covered, she keeps coming back to your practice! It’s a win-win.
This does not have to be a complex conversation, and visual guides can help. Layout what each employee who opts into the program would get. A simple way to introduce this plan is to say, “Mrs. Hanson, I can tell you care about your employees. You want to offer them an affordable option for dental care, and I want to help as many patients as I can. I believe this benefits all three of us: you, your employees, and my practice.” You can use a brochure or pamphlet to better explain what patients would receive in the plan. Mrs. Hanson can then use those same materials to explain the service to her employees. Waive the first-year fee: Make this an offer they WILL NOT want to refuse. Not only will the boss be able to offer a dental plan to the team without the hassle of insurance, but they can also do so without employees having to pay a dime for the DHBSP for the first year!
The added benefit is that unlike dental insurance, your patients don’t have to pay a third party who then takes a cut and has to pay you for fees. And you don’t have to worry about insurance companies dictating how to best serve your patients. The annual fee for the plan is collected at the start. That money goes directly into your pocket. Meanwhile, your patients appreciate saving money off their dental care and being able to remain with your practice. Pro Tip: Some of our members have created heavy plastic wallet-sized membership cards — similar to a credit card — for their dental health savings plan members. This can be valuable for your own internal tracking purposes to encourage patients to use the services they already paid for with an annual fee. Plus, patients will likely keep the card in their wallet, which is a constant reminder for annual exams and dental treatment. We will be happy to design the graphics for your DHBSP cards in addition to your tri-fold brochures. HOWDO I IMPLEMENT THIS? Use the “Dream 100” and/or the “shoe leather” Gems described above to get your foot in the door of small- to medium-sized local businesses that don’t offer dental insurance to their employees. “A common mistake many Doctors make is to take a percentage off various services (e.g., they may offer DHBSP patients 10% off all nonpreventive care). This is a HUGE MATHEMATICAL ERROR and will COST YOU MONEY!”
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That boss just became an absolute rock star to the team, and you have an opportunity to get new patients in your door, receiving the treatments they need, and provide service that is so great they won’t want to leave. And they won’t have to! Your dental health savings plan will make it easy for them to stay. You may only get 5–10 new patients to opt into this program through each the employers who says yes, but that is 5–10 new FEE-FOR- SERVICE patients who can become loyal members of your dental family just by you reaching out to local businesses to fulfill a need. That is a powerful thing to be able to offer ... especially during a global pandemic, when so many people and companies are trying to save money where they can. Realize the power of this Gem to help you strengthen the fee-for-service part of your practice. Work it effectively … If you get a “YES!” from just two employers each month for the next 12, you’ll have added 200 to 300 (or more) new full fee-for-service patients to your practice a year from now!
2 CRITICAL POINTS WHEN PITCHING YOUR PLAN TO THE BOSS ...
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Explain the benefits of your dental health savings plan: The employer has to do nothing but offer this service to their employees. They do not have to pay insurance companies, and they are not bound by restrictions and deadlines. All they have to do is put your tri-fold DHBSP brochures into the hands of employees.
7 InsidersCircle.com | 1-888-880-GEMS (4367)
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