How Dr Jeevan Boyal added nearly £50k of value to his practice by Switching Provider

If you're a dental practice owner looking to reduce overheads and enhance practice value, switching your dental plan provider could be the solution. Dr Jeevan Boyal, Principal at Casa Dental, made the decision to transition his patients from Denplan to Patient Plan Direct to achieve these objectives.

He took over Casa Dental, a three-surgery private practice, in 2023. Like many new practice owners, he was looking for ways to increase his private patient numbers and manage his finances more effectively. This included revisiting the existing dental plan his practice had in place with Denplan.

"When I bought the practice, I reviewed all the costs, including the dental plan fees, and quickly realised it wasn't a lot of service for a very high fee," Dr. Boyal recalls. "That really stimulated me to look elsewhere in the market."

Evaluating the Market

Dr. Boyal took a proactive approach by exploring different dental plan providers, focusing on finding one that aligned with his financial goals and his commitment to patient care. He understood that a smooth transition was key, not only for his practice but also for his patients.

"What was really important to me was the patient experience in that switch. I wanted to ensure that they were unaffected by the change," Dr. Boyal explains. "We switched to Patient Plan Direct within the first three months of buying the practice. It was a lot of change in a short time, especially since we were rebranding the practice and putting more emphasis on our brand rather than that of the plan provider."

The Switch to Patient Plan Direct

Patient Plan Direct provided what Dr. Boyal describes as a "simple" and seamless switching facility. The transition was also very easy to communicate with patients thanks to the ability to bulk transfer patients from one provider to another without patients needing to complete a call to action

"We introduced the switch as a positive change," Dr. Boyal says. "As long as you keep the terms of the plan the same (what’s included clinically and an A&E benefit) then patients don’t mind who’s providing it. From their perspective, nothing had changed. It was the same practice, the same clinician, the same benefits."

What made the process even more rewarding for the practice was the minimal disruption it caused. In fact, only two patients chose not to stay during the transition. On top of that, the practice had subsequently gained more plan patients with the support Patient Plan Direct’s dedicated Business Development team and saved a significant amount of money.

A Desperate Offer from Denplan

It wasn't as though Denplan didn't fight to keep Casa Dental as a client. Dr. Boyal said, "They offered us savings worth a year and a half's fees, but in return, they wanted to tie us in for three years... I looked at the offer over the long term, and it was actually a load of nonsense. Throwing cash at us wasn't going to solve the underlying issues and it just didn’t sit right with me."

Instead, Dr. Boyal opted to look at the long-term benefits Patient Plan Direct offered, and the decision proved fruitful. In the first year, Casa Dental saved £8,000 in costs by switching plan providers, providing a much-needed financial boost. This saving could add almost £50k in practice value in the long term based on a x6 EBITDA multiple.

The Benefits of Patient Plan Direct

Patient Plan Direct is proud to offer a low-cost dental plan solution without compromising on service. Many clients, like Dr. Boyal, have noted the provider's excellent support, training, and help in growing a plan patient base. Whilst there are other low cost plan providers in the market, few have been trading for 15 years specifically as a dental plan provider offering a highly focused service. 

If you're a dental practice owner looking to reduce overheads and improve your dental plan offering, it may be time to explore a switch. As Dr. Boyal's experience shows, you have nothing to lose and may discover significant financial benefits.

Watch the full video testimonial featuring Dr Jeevan Boyal, where he shares how the switch positively impacted his practice and the steps he took to make it happen.

https://patientplandirect.com/case-studies/casa-dental/?utm_source=GDPUK&utm_medium=Article&utm_id=SS