Suki Singh, looks at some of the reasons why Practice Plan has seen a marked increase in practices wanting to switch providers.
Like so many other business areas in dentistry, the patient plan environment has a healthy level of competition. This is good for practices.
There are a number of providers that offer differing services. And a certain amount of switch activity is to be expected as practices look for the best value for money.
However, we have witnessed a rise in the number of practices wanting to switch from their current provider to Practice Plan.
So, with that in mind, we’ve looked into what is driving this increase in switch activity.
Time to reflect
Although practices have been dealing with a large influx of patients over the last 18 or so months due to the high demand for private dentistry, standard operating procedures have restricted the flow of patients through the practice.
This affords dentists more time to step back and reflect on their business. They can consider whether they are getting the best service possible from their provider and the most out of their plans.
Many use this time to look at the alternatives in the market and what other plan providers can offer. This has been one catalyst for the increase in practices making a switch.
Since the pandemic hit, we’ve also noticed a rise in dentists conversing with their peers on a range of issues. This includes the topic of providers.
Practices that have switched to Practice Plan have told us that a key factor in their decision was the recommendations they received from others who’d already made the switch.
Value of a branded plan
More and more dentists have started to realise just how valuable their practice brand is within their local community. A plan that is branded to their practice and not the plan provider, helps them to further build their profile.
A plan that is branded to the practice gives the patient a greater sense of belonging and increases loyalty.
This change in perspective has seen more practices deciding to move away from plans branded to their provider in favour of other providers such as Practice Plan, who brand their plan communications to the practice.
Extra support
In this ’living with Covid’ world, practices have first looked to stabilise and now to build their business.
As such, they want a provider that can offer them the relevant business support. As well as guidance to help them grow their business in a profitable way.
When practices are comparing plan providers, they’re not just focusing on reducing all of their costs and finding the cheapest provider. We have seen an increased emphasis on finding a provider that offers so much more additional support. As well as the best value for money.
Also, as the costs of materials and wages continue to rise, practices are making a concerted effort to run their businesses in a much more efficient way. Many believe a provider that can offer expertise and additional business support and advice will help them achieve that.
Being part of family
Over the years Practice Plan has developed a strong reputation in dentistry for its customer service. We go the extra mile and create an environment where practices feel part of a family.
Over recent months more practices have expressed a desire to become part of that environment.
Practices have told us that they’ve joined Practice Plan because they’ve seen others enjoying the benefits on offer; such as events, workshops and extra support. They don’t want to miss out.
They’ve seen that by joining Practice Plan, they will become part of a big family. They will have a supportive partner that will not only help their team grow, but also help their practice to flourish.
If you’d like to find out more about joining the Practice Plan family and how we can support your individual business, why not visit our website.
