Stop Leaving Money on the Table: Improving Key Performance Indicators to Keep Your Practice Thriving

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When there is a shift or imbalance in the economy, like today’s inflationary surge, the last thing you should do is panic. Decisions made out of scarcity or haste will often impede your practice’s ability to grow. Keeping your cool during times of change is a critical business skill, and electing to hastily offer treatment specials, accept more insurance plans, or overschedule patients is not sustainable or scalable. It will often lead to team burnout and loss of morale within your office.

A better approach is to offer a membership plan subscription that makes coverage affordable for your patients, keeping them committed to care — even during inflationary times. And the best part? Creating a sustainable and successful membership plan doesn’t have to require a lot of effort. Kleer has you covered.

We know that most practices are likely tracking production, profit, and overhead, but here are some of the other, underlying key performance indicators that will keep your practice thriving — and how Kleer can help.

New Patient Conversion: New patient reappointment rates average below 50%, meaning you spend a lot of marketing money to get them in the door, but the majority never return for further treatment. This is a staggering statistic, but one you can curtail by offering a simple, transparent, affordable Kleer-powered membership plan . Based on data from our platform, 100% of Kleer patients visit at least 1X a year, so you can be assured that your new patients will return and commit to further treatment.

Hygiene Reappointments: In a perfect world, fee-for-service (FFS) patients visit twice a year and adhere to a standard treatment plan. Unfortunately, this is not reality. Our market research confirms that FFS patients, on average, only visit once every two years and lack commitment to their oral health. Kleer membership plans include hygiene visits, so patients consistently book and keep hygiene reappointments and visit 2-3X more often than FFS patients.

Treatment Presented vs. Treatment Accepted: Dentists, alongside their hygienists and treatment coordinators, present thousands of comprehensive care plans a year, but only about 40% of patients accept the full scope of treatment. A patient’s unwillingness to commit can be difficult to navigate but not impossible to course correct, and a membership plan is a key component of helping to change this dynamic. Kleer-powered membership plans incentivize patients to accept treatment now, with an acceptance rate 2.6X higher than the average uninsured patient. There are no submissions, pre-approvals, or waiting periods to delay your patients from getting the treatment when they need it.

Discounts: Practices often sacrifice 30-50% of production to insurance discounts. While you may want to accommodate varying types of insurance, it doesn’t mean you must rely on them as your sole coverage option. A Kleer membership is a great coverage option to offer patients instead of insurance and 3rd party discount plans — we’ve even seen that membership plan patients outperform many PPO patients across thousands of practices. Our Drop PPOs Toolkit has helped hundreds of dentists navigate away from the hassles, costs, and declining reimbursement rates that make insurance difficult to manage and unprofitable. So whether you decide to drop insurance entirely or continue your participation, a Kleer membership plan helps ensure your coverage foundation is secure.

Speed of Collections: How quickly you get paid is the lifeblood of your practice. And unfortunately, insurance reimbursements can take up to 60 days to process, which means that you are essentially financing treatment for the insurers. Kleer patients pay their subscription upfront and for any additional care at the time of treatment, so there are no accounts receivable or past due balances to delay your practice from getting paid. When your patients make a payment, you receive it. It’s as simple as that.

A lot goes into improving the financial health of your dental office, but a practice without a membership plan isn’t growing or staying competitive. After reviewing these KPIs and their impact on your practice, we hope you can walk away with the confidence to create a membership plan solution that builds patient loyalty, increases patient visits, boosts case acceptance, and maximizes profitability.

At Kleer, we are unwavering in our commitment to optimizing patient coverage while providing practices with the tools, resources, and support needed to get started.

At Kleer, we are unwavering in our commitment to optimizing patient coverage while providing practices with the tools, resources, and support needed to get started.

To learn more about how a Kleer-powered membership plan can help boost your practice’s bottom line download the ebookGenerating Practice Revenue: Maximize the Value of Your Current Patients, And Acquire New Ones 

1. Dental Intelligence (2021). The Results of Analyzing 10,000+ Dental Practices.
https://www.dentalintel.com/benchmarks_thank_you/2021-02-02-The%20Results%20of%20Analyzing%2010000%20Dental%20Practices.pdf

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