When you take the pulse of today’s healthcare providers, you’ll discover they face an onslaught of challenges: stiff competition, shrinking insurance reimbursements, and lack of patient compliance with treatment plans. However, one of their greatest obstacles is the lengthy delay they experience in reimbursements from insurance carriers. Fortunately, we’ve got the perfect cure: non-insured benefits.
Take two discount programs and call me in the morning
Non-insured benefits can create a new profit center for healthcare providers. In particular, discount programs like dental or vision help providers get paid quickly. With these dynamic solutions, patients must pay the total discounted rate at the time of service. This means providers don’t have to worry about claims being denied or the time it takes to be reimbursed by insurance carriers.
To top it off, non-insured programs often generate patient loyalty for a healthcare provider—particularly when the clinic offers a discount on their own services along with the benefit program offering.
Case in point: We at New Benefits have a highly successful client who sells a benefit program within dentist offices. As part of the package, dental providers offer a discount on their services along with several other benefits. Not only does this keep patients coming back, but the dental office also generates monthly revenue from the membership program.
Another example is a booming Texas-based urgent care center that offers a non-insured package to patients. They add thousands of new members per location each year, which has resulted in a major revenue boost for their organization (to the tune of several million dollars). This organization has also enjoyed an increase in repeat patients and higher utilization of their additional services, such as immunizations and school/sports physicals. To top it off, they use the program to differentiate themselves from other clinics in the area. Because they offer a healthcare discount program that saves their customers a significant amount of money, the urgent care center has gained a serious edge on their competition. In fact, they have become the go-to clinic for their community.
A simple remedy
In today’s tumultuous healthcare climate, many healthcare providers are in need of a fresh solution. Non-insured benefits could be the cure they so desperately need. These programs not only expand the services healthcare providers offer; they also increase provider brand recognition through a private label program. Additionally, non-insured programs offer immediate income for healthcare providers since patients must pay on the spot.
Health providers have been discounting their services to insurance companies for years. This is their opportunity to “sell” this discount directly to patients—and in turn, generate more revenue and boost patient loyalty.
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