With economic challenges contributing to the high running costs of a practice, is it time to review your existing dental plan provider to potentially make a huge cost saving?
We asked Dan Nulty at Patient Plan Direct why practices may consider reviewing their plan provider to ensure they’re getting the most efficient and cost-effective deal.
Why should a practice consider switching plan provider?
I’m frequently hearing the same three reasons when I meet practice owners:
- Cost. Some plan providers offer a ‘bells and whistles’ package, which includes add-ons that patients or practices may not require. Big annual events that cost the earth or other plan auxiliary ‘benefits’ are all wrapped up in an admin fee that may not represent best value. Our focused approach at Patient Plan Direct allows us to keep our fees to a minimum, allowing for huge cost savings versus working with other providers.
- A reduction in customer service. Some practices with long term relationships with their plan provider have indicated that they’re not getting the attention and support they once were.
- Long-term contracts. This isn’t something everyone is comfortable in agreeing to. Some plan providers are bringing in such contracts to try and tie in client practices in light of the new simple means of switching plan provider.
What is ‘Simple Switch’?
This is when one plan provider switches plan patient details to a new plan provider, utilising the bulk change process (an established banking facility offered by the direct debit scheme provider, Bacs).
It’s a quick, simple and low-risk means of switching plan provider that negates the need for patients to sign a new direct debit instruction.
How straightforward is the Simple Switch process?
This seamless process happens without any action required from patients. There is also no actin required from a practice team, meaning it’s a super simple process for all parties.
Most plan providers require three months’ notice if a practice intends to move to another provider. Once notice is given, a communication is sent to patients to inform them of the changes.
Thereafter, everything else is managed in the background by the plan providers without any break in collections from patients
You’ve had a hugely successful 2022 – why are more practices switching to Patient Plan Direct?
We are a ‘low-cost plan provider’ and we specialise in plan. This means that the bells and whistles approach that a practice may live without, ensures we are experts in our product offering and ultimately offer a cost saving proposition which our competitors can’t compete with.
Our client services team are exceptional in their knowledge and the response to any query our clients may have is rapid.
Then there is our easy-to-use online portal that offers real-time plan insights, reporting, paperless plan sign up and financial forecasting.
Training for a practice team (new or existing) is part of the service we offer, as there is a host of marketing resources that we provide, and so much more.
What is your advice for all practices that offer a plan?
Take time to shop around. Review your existing provider against the other plan providers in the market, as you could potentially save thousands a year.
It’s becoming ever more financially challenging to run a practice – a trend likely to continue throughout 2023. As such, any opportunity to save should not be ignored.
The best part – it’s a super simple process to switch providers, so why hesitate?
To review your existing plan arrangements with the Patient Plan Direct team, visit patientplandirect.com/simple-switch or call 0344 848 6888. No obligation – let’s just see how much we can save you annually.
