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Dental Membership Plans vs. Insurance: How In-Office Plans Work | Dave Monahan, Kleer
Description
Your patients without dental insurance don't have to be your least valuable patients. Dave Monahan, CEO of Kleer, explains how in-office membership plans work, who joins them, and why membership patients come in twice as often as uninsured patients and can bring in 30 to 40% more than insured ones. He also covers plans for local businesses, the "my PPO contract won't let me" myth, and how much work it takes to run a plan.
In this episode:
- What a membership plan is, and why you should never call it insurance
- Who joins: retirees, millennials and families without coverage
- Membership patients vs. insured and uninsured patients
- The barriers built into dental insurance
- Why half of PPOs lose money for the practices in them
- Offering membership plans to local businesses
- How to market to local employers
- Will membership plans ever be regulated like insurance?
- The PPO contract myth
- How much work it takes to set up and run a plan
Dave Monahan is the CEO of Kleer, a membership plan platform for dental practices. Before Kleer, he worked as an engineer at Northrop Grumman, ran businesses at Microsoft, and founded a wearable health device company.
Chapters:
0:00 Intro
1:09 "If you don't have a membership plan, you're behind"
1:44 Meet Dave Monahan of Kleer
4:13 From fighter jets and Microsoft to dentistry
7:21 Who joins membership plans?
8:53 Membership vs. insured and uninsured patients
11:23 What is a membership plan?
12:12 Never call it insurance
14:00 How membership plans differ from insurance
15:06 Why membership patients show up
16:35 The barriers built into insurance
17:19 Half of PPOs are unprofitable for practices
18:15 Insurers cutting fees during inflation
19:20 Membership plans for local businesses
22:43 Marketing to local employers
24:37 Chad's 10-year membership plan
26:48 Will membership plans be regulated?
29:08 The PPO contract myth
30:10 How much work is it to run a plan?
33:20 What patients and the practice see
34:58 Closing
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