You’ve heard about membership dentistry, but does it come at a cost? Along with many other positive features, membership plans can bring to your practice, plans actually increase practice revenue. Read on to discover how membership dentistry can bring in more money to your practice.
Care for cash-pay patients
Membership plans ultimately reduce dependence on dental insurance and make way for uninsured patients to receive care at your practice. Membership plans allow you to give quality and unique care to cash-paying patients. Your revenue will increase as you can take on new patients.
Generate predictable income
Membership plans can generate predictable recurring revenue. You understand the amount patients pay for their membership, and with auto-renewals, you can expect that revenue at the time of renewing. Auto-renewals help patients stay on track with their dental care and ensure practices get paid automatically, decreasing gaps in payments. With membership plans, there aren’t “busy” or “down” times of the month.
This stabilizes your practice and brings a steady revenue stream. You can hire smarter and make better investment decisions when you have a steady revenue stream.
Members spend more
Lastly, it’s been proven in our society that members buy more. Amazon Prime is a great example of this. Amazon Prime members pay $99/year for their Prime membership, and data shows they also spend more money on Amazon per year than non-Prime members.
In conclusion, you can see the many different ways membership dentistry will increase practice revenue. Visit us at www.membersy.com today to take a deep-dive into membership plans and start putting your practice first.