Overview
There are several different options available for you to introduce patient payment plans within your dental practice, with a wide selection of providers offering a range of benefits, at varying prices, and with different levels of support. The right plan can create predictable recurring revenue for your practice while encouraging preventive care among your patients. Many plans will also have support available to help a practice with the transition, from inception to fruition, with guidance on financial planning, recruitment, and marketing.
Understanding the different payment models available in the UK market can help you to choose a structure that is both financially sustainable to your practice’s profile and ambitions, while supporting long-term patient relationships. Private dental plans allow you to offer treatment options to your patients for an agreed price. The available commercial plans vary in the range of treatments covered, eligible patient groups, and the terms and conditions, including costs. Depending on the treatment and economic needs of your patients, you may want to offer more than one type of plan.
Researching your options carefully is key and, before agreeing to participate in a plan, making sure that you know all the costs that are involved as well as the terms and conditions that apply to you (including any for moving provider), and your participating patients.
Private dental plans do not suit every practice. Your patient base and your willingness to be constrained by the terms of any plan you choose will affect whether it is a realistic option for you. In some cases, a bespoke in-practice capitation scheme may be more suitable. Consider the advantages and disadvantages alongside the possible effects that any scheme may have on your practice, in both the short and long term. You must also be aware of the Financial Conduct Authority’s (FCA) requirements and, where possible, avoid offering a regulated activity. requirements and, where possible, avoid offering a regulated activity.
