by Sponsored Content: Kleer
The ADA’s recent economic outlook report cited that the vast majority of practices are experiencing operational price increases and little to no relief from insurance reimbursements.
Increased supplies and materials costs, staff wages and lab fees are noted as having the most substantial impact.
In response, Kleer has taken a proactive approach to help practices offset the rising cost of doing business by driving more high-quality recurring revenue through its unique dental membership platform.
1. Support predictable cash flow
Increasing annual revenue across an organization not only means more profit but also means that you’ll have more cash on hand to reinvest back into your business. The predictability allows you to take on new initiatives confidently, hire additional staff, or open new locations knowing that you have a more reliable source of income to support your growth. Data from thousands of practices shows that Kleer partners commonly see a 172% increase in production, which amounts to a +$646 increase per membership patient, per year.
2. Create a buffer against the unknown
If the effects of covid-19 taught us anything, it is that the world is unpredictable. Membership plans help practices insulate themselves against sudden external shocks, such as an economic recession or a pandemic. Insurance is already built on a faulty system that doesn’t reflect the true cost of care. Diversifying your income with a membership plan makes practices less vulnerable to market fluctuations and less reliant on insurance for reimbursements.
3. Enhance patient engagement and loyalty
When patients enroll in a membership plan, they make a commitment to your practice. They are saying that they value the care you provide and want to continue receiving treatment from your office long-term. This type of loyalty is essential for practices looking to build a stable patient base and mitigate attrition. Also, by signing up, patients are more likely to maintain their regular check-ups and preventive care appointments, leading to better oral health and fewer emergency visits down the road.
4. Insights into your practice’s financial health
The overwhelming benefit of implementing a Kleer-powered membership plan is the level of data you’ll have at your disposal to make sound business decisions. With real-time reporting, you can track plan sign-ups, renewals, and churn across practices to get a pulse on how well your membership program is performing. This visibility allows DSO leaders to forecast more accurately, easily manage membership plan performance, and drive higher profitability across their organization.
Kleer’s advanced, cloud-based platform includes everything a practice needs to design, implement, automate, and grow a successful membership plan. The platform is trusted by over 7,000 dentists across solo, group, and DSO practices in all 50 states.
If you’d like to learn more about how Kleer can help your DSO generate more practice revenue, schedule a free consultation today.
