It’s time to start your dental savings plan, and you need an enrollment fee. What’s it going to be? What will be included with it? Will it be a monthly fee or an annual fee? How do you know you are calculating it correctly so that it’s beneficial to your practice and attractive to your patients? All of these questions require serious reflection before beginning your plan.
Generally speaking, most enrollment fees include some or all preventive services.
It’s extremely important to examine multiple metrics when choosing the right plan enrollment fee. Primarily, what type of socio-economic community do you serve? It’s also a good idea to consider what percentile your current standard fees fall within compared to other dentists in your area. Combine that with your own “temperature” or tolerance to provide a certain percentage of discounts, and you can start to get a rough idea of where you think your enrollment fee should fall.
Additional metrics should also be considered.
Are you longing to stop participating in-network with a particular (or all) dental insurance? If so, how can you best structure your membership plan to offer patients as an alternative to avoid attrition? Also, if you have a strong perio program it might not make sense to include two prophies per year in your plan’s enrollment fee.
Although other metrics can certainly come into play, one of the biggest decisions you must make is whether your patients will pay for your plan monthly or annually. There are pros and cons to both.